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The Amarillo Enterprize Challenge is a program designed to assist entrepreneurs in expanding an existing business or launching a new business. Everyone who participates will gain a better understanding of how to develop and follow a realistic business plan, and qualifying entrants can request a share of $500,000 in capital funding grants. To apply for the Amarillo EnterPrize Challenge, your business must be a for-profit "basic" business. A basic business is defined as one the primarily exports its products or services outside the Amarillo area, thus bringing new money into the local economy. To meet this definition, you must document within your three year business plan that at least 75% of your company's sales would come from outside the Amarillo area and that jobs created within your plan would be jobs in Potter/Randall Counties.
To date, through the Amarillo EnterPrize Challenge program 40 businesses have received cash grants of as much of $75,000 each, totaling over $2.05 million in grants over the last fourteen years. Altogether, these firms have created 312 new jobs and bring more than $24 million into the Amarillo economy. In addition, these companies have invested over $6.6 million in additional capital since receiving their grants.
Amarillo EnterPrize Challenge Rules & Regulations:
Amarillo EnterPrize Challenge Business Plan Guideline Workbook
Funding provided by:
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2010 EnterPrize Challenge Updates:
The 2010 Amarillo EnterPrize Challenge is well underway. With 104 applications, 53 of which were qualified- we have had more interest from entrepreneurs than ever before. At the end of January, 19 qualified business plans were approved for entry into the Challenge. These 19 basic industry businesses are competing based on their business plan
for a share of $500,000.
Finalists will be selected in early March to present to a panel of 5 judges and award recipients will be announced in early April.
If you are interested in participating in the 2011 Amarillo EnterPrize Challenge, we are currently accepting applications. The application deadline, orientation workshops and business planning process will begin in September 2010.
In early April we will also be hosting the 2nd Annual EnterPrize EXPO.
This facilitated networking expo is an invitation-only event specifically focused on developing and growing business for Amarillo area manufacturers, technology companies, consultants and service companies. This expo is not just another trade show, but a dynamic networking format that offers you an opportunity to discover local resources that can provide leverage and growth for your business. $25 per company. For more information about how to be a part of this event call us at 806.374.9777 or click here.
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