The Launch Angel Competition, a business plan contest based in southeastern Wisconsin, will launch its second-year competition June 21. Launch Angel’s goal is to launch at least one new business in southeastern Wisconsin every year.
The contest will have a prize package worth more than $25,000, a $10,000 increase over the first year. The winner of the first competition, announced in April, was Milwaukee-based Pragmatic Construction. The prize package included access to public relations and marketing advice, legal counsel, accounting services, membership in several business organizations, free advertising and more.
In addition to the prizes provided last year, this year’s winner will receive a booth at the Wisconsin Business and Technology Expo, a free business checking account and a meeting with a commercial banker, software and training, business classes, retirement plan consultation, company letterhead and business cards, interior design and architectural services.
This year’s competition will also recognize the two runners-up with smaller prize packages, which will include a marketing and public relations consultation, some legal counsel, risk management consultation and a gift certificate toward a business class.
Anna Baxter Kirk, creator of the competition and founder of Launchpad MCPR Inc., a Milwaukee-based marketing, communications and public relations firm, said a second year of the competition was needed because it had so many applicants in its first round.
“There were such incredible applicants this year and there are already signs that (the competition) is benefiting entrepreneurs in the region,” Baxter Kirk said. “We’ve got almost all of the sponsors from last year and several new ones. Their investment speaks volumes to what Launch Angel will do and the positive impact it will have.”
There were many start-up businesses that weren’t quite ready for the first competition, Baxter Kirk said.
The prizes, designed to help jumpstart a new business, were donated by sponsors, who Baxter Kirk called angel investors.
Some of the angel investors also served as angel advisors, a group who helped Baxter Kirk judge the competition. This year’s angel advisors are Baxter Kirk; Dan Meyer, owner and publisher of Small Business Times; Wendy Baumann, president of the Wisconsin Women’s Business Initiative Corp.; Henry James, counselor at the University of Wisconsin-Milwaukee Small Business Development Center; Corey Vollmers, human resources manager at GE Healthcare; and Wendy Pawlyshyn, co-owner of Juju Gifts, Accessories and Décor, a year one Launch Angel runner up.
Applications for this year’s contest are due by the end of September. The contest will be narrowed to 10 by October, and to three by November. The winner will be announced in January, 2007.
“The winner gets a whole year to work with our sponsors,” Baxter Kirk said.
Once the competition is narrowed to the top 10 applicants, they will be asked to submit a full business plan so the angel advisors will be able to review the financial feasibility of all contestants, Baxter Kirk said.
“You can get a lot of information from the questions on the application, but to delve into the financial thought process is something that is important to see,” she said.
2007 Launch Angel Sponsors
• Launchpad MCPR Inc.
• Small Business Times
• Brevient Technologies
• OnMilwaukee.com
• Fullhouse Interactive
• Sondra Safer CPA
• Park Bank
• Reinhart Boerner Van Dueren S.C.
• Weiss Design Studio
• Special Editions
• NLTK Architects
• Cieslik Celek Interior Design LLC
• Diversified Management Services
• Ed McGuire / Principal Financial Group
• Wisconsin Women’s Business Initiative Corp.
• UWM Small Business Development Center
More information on the Launch Angel competition is available at its Web site: www.launchangel.com.
