If economic indicator reports and talk of recessions is raining on your business's hopes for the future, perhaps getting together with a group of entrepreneurs and business startup executives can help turn that tide around for you. One recent business reporter did just that and came away with a lot more confidence in the future of our economy and about the state of the local Denver business climate. A reporter from the Denver Business Journal had the opportunity to emcee the competition for the best business plan at the JumpStart Biz Plan Awards.
We reported on the first ever JumpStart Biz Plan Awards business competition that was organized by the Denver Office of Economic Development back in July of this year. The competition included 150 local startup companies who entered the contest by submitting their business plans. Organizers of the competition then selected 10 finalists and then again narrowed that down to three, each of which gave a 10-minute presentation to a panel of judges. The judges asked them questions and selected the winner.
The grand prize award of $50,000 went to Denver's own AppIt Ventures, which aims to help entrepreneurs and aspiring business owners with a suite of software applications designed to help them develop a business plan and set a strategy for growth. Other finalists included VertiFresh, a startup that grows hydroponic herbs and vegetables in containers or "pods." Another finalist was an information technology and security company called One World Solutions. The event was held at Galvanize located in the Golden Triangle area.
The Denver area is consistently ranked as one of the best cities to start a business. With competitions such as JumpStart and other desirable assets, the city is a hotbed of entrepreneurial activity. If you are looking to jumpstart your business, a good place to start is with an attorney well versed in all aspects of business planning and formation. Choosing just the right entity for the best possible tax benefits for your particular business as well as resources for helping you find both traditional and non-traditional venture capital financing can help you build a solid foundation for growth.
Source: Denver Business Journal, "For fast economic relief, get thee to a startup," Neil Westergaard, Oct. 25, 2012
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