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The Richmond-area chapter of SCORE is holding its third annual startup contest for entrepreneurs in the region.
The first-place winner will receive a cash prize of $5,000. The second-place prize is $2,500, and the third-place prize is $1,000.
The deadline to enter is March 16. The number of contestants this year will be limited to the first 25 entrants.
The winners will be selected during a pitch presentation program on June 6.
Entrepreneurs who have been in business for less than a year — or are thinking of starting a business — are eligible to enter the SCOREcard Business Model Canvas Competition.
This is the third year for the competition.
Last year, the Dog Wagon food truck that has a carry-out and delivery location in Richmond’s Scott’s Addition neighborhood emerged as the winner of the SCOREcard Business Model Canvas Competition.
In 2016, Smart Web Squad LLC, which offers a subscription-based custom-designed content management system for restaurant website menus and texts, was the winner.
Applicants must submit a written analysis of their business idea by April 18. All entrants will be teamed with a SCORE mentor who will guide them through the process and, if requested, will continue to provide support after the competition.
Based on the applications and written business analysis, a panel of judges will select six finalists. This is a change from the past two years when the group held a semifinal round of presentations to select three finalists.
The six finalists will be announced on May 4. The pitch presentations to judges will be made and the winners selected at the June 6 program.
Applicants may register for the competition online beginning Thursday at www.richmond.score.org. A $50 application fee is required.