Five Entrepreneurial Development Center Clients Selected as Semifinalists in John Pappajohn Business Plan Competition
CEDAR RAPIDS, IA—June 16, 2009—The Entrepreneurial Development Center (EDC), a community-sponsored business accelerator, is pleased to announce that five of its clients are semifinalists in the John Pappajohn Business Plan Competition. This list of clients includes: Vision-1 (Huxley), J&J Solutions (Iowa City), Ovation Networks (Cedar Rapids), LifeCrete (Fairfield) and Tri-Phase Drying Technologies (Norwalk). A total of 30 semifinalists (out of the 64 entries) were selected. The semifinalists were chosen based on their executive summaries and must submit their complete business plans by June 30 to continue in the competition.
Each winner will receive one of three awards totaling $50,000—grand prize of $25,000, $15,000 second place or $10,000 third place. The semifinalists will learn which prize they've earned at the Iowa Venture Capital and Entrepreneurship Conference on Wednesday, October 7, 2009.
The Iowa Business Plan Competition is designed to stimulate entrepreneurial activity and greater awareness of the resources available to grow entrepreneurs in Iowa.
"We are proud of our clients for being selected as semifinalists in the John Pappajohn Business Plan Competition," said Curt Nelson, President and CEO of the EDC. "A plan is one of the key ingredients to the success of a business. We are pleased that the John Pappajohn competition rewards entrepreneurs for taking the steps to identify a need in the market, determine that their product/service meets that need and then develop a quality plan around the business."
About the EDC
The Entrepreneurial Development Center was incorporated in 2003 as a community-sponsored, non-profit business accelerator. The company provides economic growth through the development and expansion of entrepreneurial enterprises and has successfully assisted over 300 Iowa-headquartered businesses. Its focus is on creating local wealth for area re-investment by growing and cultivating regional, national, and international businesses. Visit www.edcinc.org for details.
