ANN ARBOR — The Great Lakes Entrepreneur’s Quest will be announcing 10 winners in the first Vision to Action Challenge at ACE’13 Jan. 31 in Livonia as part of the GLEQ Business Plan Competition awards presentation.
The Vision to Action Challenge was introduced as a new track in the Fall 2012 GLEQ Business Plan Competition. The challenge required participants to identify action steps to launch their business or to increase traction and growth. Each participant submitted a completed Business Model Canvas and a three-minute video presenting their venture and the action they’ll take to push their business forward.
The Vision to Action Challenge joins two other tracks in the GLEQ Business Plan competition, the New Business Idea and Emerging Company categories, where participants submitted a written executive summary to be judged by venture capital and angel investors.
The Challenge offers concept-stage entrepreneurs a path to develop their ideas and more experienced entrepreneurs a process for increasing business momentum, to better position them to complete a business plan.
“We often see entrepreneurs experience confusion and anxiety about the “next steps” to take to launch or grow their ventures,” said GLEQ executive director Diane Durance. “Often key questions about the technology, market demand, and economic viability need to be answered before a business plan can come together. The Vision to Action Challenge supports entrepreneurs as they work through these decision points by giving them expert advice and a process for honing in on action steps to move forward.”
GLEQ plans to continue this track in the Spring 2013 GLEQ business plan competition, which launches with the sign-up period on Feb. 4. All Michigan entrepreneurs starting or growing innovative ventures are invited to participate in the GLEQ business plan competition. In addition to the Vision to Action Challenge, the spring competition will feature the $100,000 SmartZone Award and industry-specific awards in food safety, green chemistry, biotechnology, alternative energy, advanced manufacturing, and more.