Fifth Annual North of Boston Business Plan Competition Launched with $10,000 First Prize

Competition Supported by Enterprise Center at Salem State College and Merrimack Valley Economic Development Council supports search for growth companies who will locate in Essex County and Merrimack Valley

SALEM, MA—The Enterprise Center at Salem State College and the Merrimack Valley Economic Development Council today launched the fifth annual North of Boston Business Plan Competition designed to find and support early stage, start-up and existing growth businesses. 

The 2009 North of Boston Business Plan Competition will award a $10,000 first prize, $6,000 second prize and $4,000 third prize to outstanding plans for companies less than two years old who are planning to add at least five full time or FTE employees within two years.  Applications are due no later than 5:00 p.m. on Friday, February 20, 2009 and complete information about the competition may be found at www.enterprisectr.org/bpc.  The Competition has the support of the North of Boston business community including seven sponsors and eighteen co-sponsoring business organizations.

“In these challenging economic times it is even more crucial to seek out and support growth companies in Essex County or the Merrimack Valley,” said Christine Sullivan, Executive Director of the Enterprise Center.  “Entrepreneurs are the greatest economic engines for our local economy and workforce.  This competition is one part of our commitment to promote this region as a place that is attractive to growth companies.”

“The goal of this competition is to find those new growth businesses and get them to locate or stay in Essex County or Merrimack Valley,” said Bob Halpin, President of the Merrimack Valley Economic Development Council.  “We need to show businesses of all sizes that whether they are high tech or low tech we have the money and resources in  the North of Boston to support them.”

Last year’s judges include early stage investors, venture capitalists, bankers and other experts who will examine each plan and select winners and the competition expects to retain the same mixture this year.  Full eligibility details, entry forms and information on the winners for the past four years are available at www.enterprisectr.org/bpc.

2008 winners include:
First Prize:  Differential Proteomics a biotech company that uses its patented technology to help identify specific diseases and cancer. 
Second place: Flavrz, a socially responsible, eco-friendly, distributor of organic beverages
Third place:  Enterprise Home, LLC, which plans, develops and monitors cutting edge housing developments in Tanzania

The Competition is grateful for the support of its platinum sponsor Eastern Bank, as well as gold sponsor Salem Five, silver sponsors Burns & Levinson, LLP, Danversbank, NorthShore Bank, North Shore Technology Council and media sponsor The Salem Evening News.

Co-sponsors of the 2009 competition include the 128 Innovation Capital Group, Amesbury Chamber of Commerce, Bertolon School of Business, Salem State College, Beverly Chamber of Commerce, Cape Ann Business Incubator, Cape Ann Chamber of Commerce, Creative Economy Association of the North of Boston, Greater Haverhill Chamber of Commerce, Greater Lowell Chamber of Commerce, Greater Newburyport Chamber of Commerce,  Lynn Area Chamber of Commerce, Merrimack Valley Chamber of Commerce, North of Boston Chamber of Commerce,  Peabody Chamber of Commerce, Salem Chamber of Commerce, Salem State College Alumni Association and the Small Business Development Center at Salem State College

For information about the 2009 North of Boston Business Plan Competition, including details on how to enter, visit www.enterprisectr.org/bpc or call (978) 542-7528.