Cover Letter to Investor with Copy of Business Plan

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Cover Letter to Investor with Copy of Business Plan Powered By Docstoc
					This contest is open to anyone 18 years of age or older.

The contest is open to new businesses (not yet started or in full-time operation for less than 2 years), and expanding
existing Cass County businesses. Expansion includes product lines, jobs, facilities, etc. and must be completed within
12 months of award. An existing business is defined as any full-time, private business that has existed for more than 2
years, employs 50 or fewer employees and has less than one million dollars in gross revenues. If the winner is a start-
up business, the business must be established within six months after the award is presented. Contestants must be
or propose to be a full-time business operation with the primary office physically located in Cass County for at least 2
years. The owner(s) must be an Indiana resident. The winning business will be awarded up to $10,000.00, as need of
funds is detailed in their business plan.

All contestants are required to submit a current business plan that includes, at minimum, the information contained in
the enclosed business plan outline. Finalists may be required to submit additional information. Finalists will be required
to give an oral presentation of their business plan. Reference, credit and criminal background checks will be
conducted. Winners must not have been convicted of a felony. Winners must not be delinquent on child support,
federal, state, or local taxes of either a personal or business nature. Prospective winners will need to provide 3 years
of personal/business tax returns and business financial statements for previous year. All contestants are subject
to application approval.

Contestants who have attended entrepreneurial training certificate programs such as Area Five’s Business Planning and
Management Course, NxLevel, or college-level entrepreneurial training programs will be given 5 extra points.

The contest will close at 4:00 p.m. on May 10, 2010. Finalists will be selected and the winners will be announced at the
Awards luncheon in June 2010. Submit a signed entry form, a signed business plan contest rules form, a copy of state
issued photo ID, two paper copies of the completed business plan, an electronic version of the completed business
plan (email or zip drive) to LEDF (Logansport-Cass County Economic Development Foundation) by May 10, 2010 to:
LEDF, 311 S. 5th Street, Logansport, IN 46947. Late applications will not be accepted. Incomplete applications will
be withdrawn and not allowed to compete. Deadline for submission is 4:00 p.m., May 10, 2010, LEDF Office.
(For a complete list of items to be submitted refer to the business plan outline, VIII – Supporting
Documentation.)

Entries and business plans must be typed or computer generated on 8 ½” x 11” paper, 10 point font minimum, and must
not exceed 27 pages including: Title Page, Table of Contents, Financials, and any Appendices. A deduction of 2
points/page (up to a 10 point maximum) will be taken for each page over the 27-page limit. Entries will be returned
upon request following the conclusion of the contest.

A contestant may submit concepts for more than one business, but each business concept must be submitted separately.

A panel of four independent judges chosen by the SUCCEED Partnership will screen all entries. During the scoring
process the lowest score will be eliminated. Contestants will be judged on feasibility, quality of
information/presentation, oral presentation, positive community impact, & potential job creation. All decisions of the
judges are final. All judges and contest committee members have signed statements of confidentiality. The judges
reserve the right not to select a recipient if they believe a participant does not meet the contest criteria or minimum point
requirements, which is 85% of the total points of the program. In the event the highest scoring business plan does
not achieve the minimum 85% of the total points for the program, SUCCEED will continue to coach and mentor
the businesses to get them to a higher level. Another business plan competition will take place within 4-6 months
with a new panel of judges. Details of this program can be provided by contacting a member of the SUCCEED
Committee.
The SUCCEED Partnership, in cooperation with the participating donors, will award the prizes listed herein to the
winner. All prizes are subject to specific conditions of the donors. Monetary prize disbursements will be allocated
directly from SUCCEED to the contracted business/supplier via invoice based on winner’s business expenses.
Monies can be provided for cash flow needs but specific need must be detailed in business plan and proven with
supporting documentation. In order to create a paper trail, documentation for all monetary disbursements of
award will be required. Participants agree to fulfill reporting requirements upon acceptance award.

A detailed description of all prizes is available from the SUCCEED Partnership and will be given to the winner. Prizes
must be used for business purposes only. There can be no substitution of prizes or cash equivalents awarded, and any
leased items or leased real property cannot be subleased or assigned. The prizes are not transferable and must be utilized
for the business purpose stated in the start-up cost/cover letter portions of the winner’s entry. Prizes are valid for 12
months after award date.

Winners agree to participate in a 1-hour monthly reporting and counseling with the Hoosier Heartland Small Business
Development Center and/or SUCCEED partners for a period of one year. The Hoosier Heartland Small Business
Development Center is also available to assist in completion of the business plan entry to make the application of higher
quality.

The winner is responsible for all taxes, title, insurance, license, registration, transfer fees, gross receipts taxes, and
closing costs incurred as a result of winning the listed prizes.

All contestants will indemnify and hold harmless SUCCEED Partnership from any and all claims of liability, both in
contract and tort. All contestants further waive and will hold harmless from any and all claims of liability any employee
of the SUCCEED Partnership, the judges, the donors, their employees, affiliates or agents, including, but not limited to,
loss or injury occurring as a result of consequence of this contest or the prizes awarded; and from any accident, loss or
injury caused to participants during the term of this contest; and the use or utilization of the prizes awarded.

The winner agrees to grant the SUCCEED Partnership, its affiliates, sponsors, and agents, exclusive joint use of his/her
name, voice, character, likeness, and the story relating to his/her winning this contest, and all matters incident thereto, in
connection with the promotion of this contest, and hereby waives any claim or royalty or remuneration for said use.


This contest is void where prohibited by law.


All applicable federal, state, and local regulations, rules, and laws shall apply to this contest.


This contest is open to all U.S. citizens or those with permanent resident status without regard to race, age, color,
religion, sex, disability, national origin, or ancestry. The judges reserve the right to request documentation

The following business types are not eligible to participate: real estate investment firms, lending activities, multi-level
marketing plans, gambling activities, illegal activities, speculative activities (commodities, etc.), charitable, religious, or
other non-profit organizations.

In the event of a tie, the low score initially eliminated will be implemented. If by implementing the low score, the
tie still is not broken, an email will be sent to all judges asking them to play the role of an angel investor and ask
themselves, “If I had to give one of the businesses in the competition $10,000, who would I award the money to?”

As a contestant in the SUCCEED ‘10 Business Planning Competition, I have read, understand and agree to
comply with the above contest rules: (Contestants should keep a copy of this form).
_____________________________________________________________
Printed Name
_____________________________________________________________
Signature
_____________________________________________________________
Title, Business Name
______________________________________
Date
             For questions contact Kristin Shellman at 574-737-2130 or kshellman@areafive.com

				
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