PROVIDENCE – (July 11, 2018) – The Rhode Island Business Plan Competition, the largest community-supported business plan competition in the Northeast, today announced it has renamed itself as the Rhode Island Business Competition.

"We want to emphasize the fact that we’re all about fostering the development of emerging companies in Rhode Island," said Executive Director Peter Lowy. "Dropping 'Plan' from the name puts the emphasis on business competition and avoids suggesting, as some people from time to time think, that the Competition awards prizes for the best written or most attractive document."

Competition judges will continue to require submission of a full business plan, and will continue to award prizes based on their assessment of which applicants have the best potential to develop a growing business.

Six competitors shared prizes valued at $259,300 in the 2018 Competition, which concluded in May.

The 2019 Competition, which launches in October, will feature two tracks: an Entrepreneur Track, open to anyone 18 years of age or older, and a Student Track, open to any student age 18 or older enrolled at an accredited college or university.

Currently, more than 50 previous participants are operating their own companies.

The Rhode Island Business Competition is supported by private companies, professional service providers, foundations, colleges and universities, public agencies, banks, individuals, as well as former competitors.

About the Competition

Established in 2000, the Rhode Island Business Competition has been recognized as one of the top 40 business plan competitions in the country. To date, it has awarded prizes valued at more than $2.6 million to developing companies across many industries. More information is available at www.ri-business.com.