Amazing Entrepreneur Business Plan Competition Rules
All Contestants (and each team member) must agree in writing to the rules, regulations, terms and conditions of The Amazing Entrepreneur Business Plan Competition in order to participate, and the Finalists (and each team member) will be required to agree in writing to the terms and conditions of an Affidavit and Release before being awarded prizes.
The term “Business Plan” is used throughout this website, but each contestant must adhere to the guidelines spelled out on the Business Plan Summary Form.
Established Business Category
Open to individuals (18 years of age or older) who currently own and manage a small business in Gwinnett County (SBA size standards: www.sba.gov/content/table-small-business-size-standards). The business must be less than 36 months old as of April 1, 2017 and must have a current business license. As part of the entry process, contestants must submit proof of the age of the business (Examples: Sole proprietors: a bank statement documenting the opening of a business bank account; Corporations: articles of incorporation; partnerships: partnership agreement.)
Generally excluded are the following: non-profit corporations, buy-outs, expansions of existing companies, real estate syndications, tax shelters, franchises, licensing agreements or other arrangements for distribution in a different geographical area, relocations, and multilevel marketing ventures.
The Competition’s Selection Committee may exclude other ventures in its sole discretion. The Winner must also agree that any cash prize received from the Contest must be treated as revenue for the business and not for personal use.
Open to contestants who live in Gwinnett County and have an idea for a business but are not yet open for business.
This category has the same entry requirements as the Established Business category, except for the business license and proof of business age requirements. Pre-Venture contestants must submit proof of Gwinnett County residency (e.g., copy of driver’s license, utility bill, etc.).
Rules of Participation
NO PURCHASE NECESSARY. VOID WHERE PROHIBITED.
Each Contestant (and each team’s members) must execute an agreement acknowledging and agreeing to the rules (the Official Entry Application), regulations, terms and conditions of the Competition, including without limitation, that: All decisions regarding the Business Plan Competition, including the selection of the Competition winner, are in the sole discretion and judgment of the Competition Selection Committee whose decisions in each case are final and unappealable; each Contestant shall release and hold harmless the Business Plan Competition, its Sponsors, Selection Committee, Participants, and all others associated with or assisting with the Business Plan Competition from any and all matters regarding the Business Plan Competition.
Applicants will be judged based on the quality of the business plan summary and the business’s market viability.
Employees and Board members of the Gwinnett Chamber of Commerce, The University of Georgia, Contest sponsors and their family or members of the same household are not eligible to compete in The Amazing Entrepreneur Business Plan Competition.
Entries must be of adequate substance and format and must be received by 5PM on the deadline date.
Additionally, up to five Finalists in each category will be required to present their business plans to a selection committee appointed by SBDC and the Chamber. Finalists will be contacted to arrange a time and place for presentations.
The odds of winning will depend on the number of eligible entries received that adequately meet the stated criteria for a valid submission.
Before the winner and finalists of The Amazing Entrepreneur Business Plan Competition receive any prizes and any related awards, assistance or incentives, they (including each team member) must agree to the terms and conditions for each such prize and award as specified by The Amazing Entrepreneur Business Plan Competition and organizations providing prizes and awards in the Affidavit and Release.
All Business Plans must be the original work of the entering individual or team. Absolutely no software-generated business plans will be accepted.
The Amazing Entrepreneur Business Plan Competition reserves the right to not release the names of or other information concerning the Selection Committee or other Competition judges or officials. Lobbying of any Selection Committee member or other Competition judge or official is strictly prohibited.
Contestants will be notified as to whether they are selected as a finalist. Prizes are not transferable. Winners are responsible for all applicable taxes. Winners of cash prizes will be required to submit an invoice to receive the funds. The Chamber will endeavor to distribute funds and connect winners with prize donors in a timely manner following the Contest, but reasonable delays may occur.
Right to decline to name a winner: If there are no acceptable Business Plans, The Amazing Entrepreneur Business Plan Competition in its sole discretion reserves the right to declare no winner and to not award the prize package to any Contestant.