Applying to the Competition
Anyone age 18 or over may apply to the Rhode Island Business Competition.
While applicants do not have to be Rhode Island residents, to be selected as a semi-finalist, applicants must agree to establish or continue business operations in Rhode Island should they be named a finalist or winner.
Applicants may submit an idea for early stage, or seed stage, company. This typically is a business proposal at the inventor stage where there is an idea, a concept, or even a product, but little or no income.
No industry is favored over any other. The competition has received applications for many industries, including data management, food & beverage, education, energy, entertainment, green technology, health & nutrition, hospitality, insurance, maritime operations, med-tech, and software.
The judges focus on originality, scalability, and likelihood of success when winnowing down applicants. Scalability refers to breadth of business. For example, an application to develop a storefront cafe will likely not be viewed favorably. However, a proposal to create a franchised network of storefront cafes will likely garner a more positive reception since it has the potential to create more jobs.
Be sure to review previous winners.