NORCROSS, Ga., Jan. 8, 2007 (PRIME NEWSWIRE) -- The Gwinnett Innovation Challenge 2007, www.gwinnettinnovationchallenge.com, a business plan contest announced today, invites entrepreneurs, inventors, students and management teams to compete for over $105,000 in prize money, services and software. The Challenge, designed to encourage and recognize innovative new business ventures, is open to companies and business plan teams with ties to Gwinnett County and less than two million in annual revenues.
The Gwinnett Innovation Challenge, initially conceived and organized by Intelligent Systems Corporation in 2006, is championed by a number of local leaders with a long history of support for innovation, entrepreneurship and civic service in Gwinnett County. Trailblazer sponsors are Scientific Atlanta, Sage Software, Intelligent Systems and the Gwinnett Business Journal. Catalyst sponsors include the Gwinnett Chamber of Commerce and Gwinnett Innovation Park; and the Innovation Network sponsors include Andersen, Tate & Carr; Carabiner Communications; Day & Associates; Moore Stephens Tiller; Morris, Manning & Martin; PrimeNewswire; TechCFO and WeathersDesign.com.
"Last year's winners are proof that the recognition and prizes associated with the Challenge provide a big boost to a new business," said President and CEO of Intelligent Systems, J. Leland Strange. "The success of the inaugural 2006 competition made the decision to offer an even more lucrative prize package an easy one for our fellow Trailblazer sponsors, Sage Software, Scientific Atlanta and Gwinnett Business Journal, and all of the other Challenge supporters who are encouraging innovation and entrepreneurship in our local community."
According to Lloyd R. Meese, President and CEO of Wi-Ex, the Growth Stage winner in last year's competition, "Winning the 2006 Challenge gave us a big boost in resources at a time when we needed them most. We've had a year of phenomenal growth in our revenue and customer base and generated great reviews of our wireless signal extender products. I would certainly encourage Gwinnett based entrepreneurs to enter the 2007 competition."
Interested entrepreneurs can enter the Gwinnett Innovation Challenge with the submission of a five-page executive summary by midnight March 11, 2007. Finalists will present to a panel of judges consisting of experienced investors, entrepreneurs and executives on April 13, 2007. Winners will be chosen in both Seed Stage and Growth Stage categories and will be recognized in an award ceremony on April 18, 2007 at the Gwinnett Technology Forum. Complete contest details and a Challenge Entry Kit are available at www.gwinnettinnovationchallenge.com.
Winners of the business plan competition will be awarded cash prizes totaling $35,000. In addition, winners will receive Innovation Value Cards redeemable for over $70,000 in services and products. In addition, finalists in both categories will receive business software from Sage Software and all qualified entrants will receive judges' feedback on their business plan submission.
The Innovation Value Card, a concept similar to a stored value or gift card in the consumer market, can be used by the winners to purchase a specified value of services from sponsors in the Innovation Network. The services offered are particularly tailored for early and growth stage companies and include services such as website design, accounting, tax, legal, financial planning/consulting, office rent, public relations, newswire services and printing, in addition to organization memberships and small business software products. The Innovation Network members are local companies that have served Gwinnett County businesses for a number of years.
For more than fifty years, Gwinnett County has been home to many pioneering companies, especially in the technology field, that have created successive waves of new ventures and spin-offs. Support for innovation and start-up businesses is increasingly recognized as an important component of county and state economic development. In December 2005, the Governor's Entrepreneur and Small Business Office designated Gwinnett County as an "Entrepreneur Friendly Community.
About the Gwinnett Innovation Challenge
The Gwinnett Innovation Challenge is an annual business plan competition designed to recognize and encourage innovation and entrepreneurship. The Challenge is open to companies and business plan teams with ties to Gwinnett County and less than two million in annual revenue. Winners in both the Seed Stage and Growth Stage category will share a prize package worth over $105,000 in cash, products and services. Initiated in 2006 by Trailblazer sponsor Intelligent Systems Corporation, the 2007 Challenge is also sponsored by Trailblazers, Scientific Atlanta, Sage Software and Gwinnett Business Journal; Catalyst sponsors Gwinnett Chamber of Commerce and Gwinnett Innovation Park; and the Innovation Network sponsors of Andersen, Tate & Carr; Carabiner Communications; Day & Associates; Moore Stephens Tiller; Morris, Manning & Martin; PrimeNewswire; TechCFO and WeathersDesign. For more information, visit www.gwinnettinnovationchallenge.com.