Funded Initiatives
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Product Name
Golden Horseshoe Business Plan Challenge
Project Description
The Golden Horseshoe Business Plan Challenge was a Regional/International contest designed to stimulate entrepreneurial awareness & business formation, and develop the entrepreneurial skills of current and prospective entrepreneurs. Participants from multiple regions developed and refined business plans to enter into a preliminary regional contest. During this process they received education, coaching and mentoring from local entrepreneurs.
Following the preliminary business plan competitions, regional winners were selected and went on to compete in the Golden Horseshoe Business Plan Challenge. The challenge winner received a cash prize to start a business based on their proposed plan.
Outcome from Using the Product
- Identify the benefit(s) users will derive from replicating the product.
- Increase entrepreneurial talent, as participants are eligible for significant education and coaching throughout the “Challenge” process
- Enhance economic development by increasing the number of startup companies formed
- Achieve investment in local companies from nationwide venture capital firms that have no previous investment in the region
- Formation of new collaborations and partnerships
Updated 12.09
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"WIRED has allowed us to think and ultimately act as a region. Areas like Rochester are having hard time competing in the National Economy, but if region is not working together it is going to make it that more difficult. I’m very optimistic about both what Wired has done and its sustained effect on the community.” Peter Robinson, Chair
Strategic Outcomes
To be supported by Finger Lakes Wired initiatives
- Increase job growth relative to national average
- Increase average wages relative to national average
- Increase retention of 20-34 age workers
- Adoption of a regional identity resulting in collaborative networking and communication in support of regional economic strategies
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