Rutgers University is set to host a business plan competition for female entrepreneurs in May — with a prize package worth nearly $15,000 for the winning business.
The Supporting Emerging Entrepreneurs' Development (or SEED) competition is part of a new collaboration between the university's Office of New Ventures and Entrepreneurship and the Central Jersey Chapter of the National Association of Women Business Owners. It will be open to Rutgers students and professors, as well as any other New Jersey-based business that is at least 50 percent woman-owned and less than 2 years old.
"We are very excited to be partnering with Rutgers for this event," Helen Hogan, 2014 SEED chair, said in a statement. "We anticipate getting an increased number of applicants this year and hope to receive a diverse range of business ideas."
The prize package is undoubtedly a huge draw, but Hogan said the exposure and credibility that comes with participating in the competition also helps young businesses grow. Jams by Kim, a 2010 winner, scored a spot in the 2014 NFL Super Bowl gift baskets, for example.
Five finalists will be selected from the pool of applicants, and a fainl winner will be selected on May 20.
The deadline to apply is March 15. For more information, click here.
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