The 2023 Innovation Community Business Plan Competition is set for Thursday. Community members with ideas are being invited to share and compete. The competition includes prize money for the winner. Theresa Welbourne is the Executive Director of the Alabama Entrepreneurship Institute. She said this competition is meant to draw out the entrepreneurial spirit in the city.
“There are a lot of people that are just sitting in their homes, and they have ideas but they don’t know where to go, and advertising cash prizes, having a forum like this, this helps people come out,” said Welbourne.
Welbourne said everyone will receive coaching from accountants, lawyers, and members at the event.
“We’re really doing it to try and find people who have ideas and need some help getting their ideas moved to starting a business,” said Welbourne. “Or even who have maybe a company they’ve started up and need some help getting to the next level.”
The competition is hosted by the business support group called The EDGE Incubator and Accelerator. This year, a grand prize of $10,000 will be awarded and up to $5,000 in funding to be awarded.
