HOW TO PREPARE FOR INVESTMENT

There are 36 buisnesses moving on to the next step in the Amarillo EnterPrize Challenge and preparing their business for investment.

• 2012 Amarillo EnterPrize Challenge Next Steps:
• 1. Submit 7 copies of a Qualified Business Plan to the WTAMU Enterprise Center by 5 pm on January 13, 2012. Please follow the outline that is provided. Financial projections and historical data must be included or your plan will be disqualified.
• 2. Finalists will be selected and Finalist presentations will be made in March, with Awards given in April.
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• What are the Guidelines
• 1. 2012 Entrants must have submitted a two part application and authorization forms by October 28, 2011 at 5pm online and attended one orientation workshop.
• Qualified Entrants must submit 7 copies of their busines splan (following the AEC business plan guidelines and format), no more than 20 pages  long to West Texas A&M University by January 13, 2012.
• 2. The business must be a “basic business”. A basic business is defined as one that primarily exports its products or services outside of the Amarillo area, thus bringing new money into the local economy. to meet this definition,you must document that at least 75% of your company’s sales would come from outside of Potter/Randall counties.
• 3. Entrants must have acceptable credit and clear criminal history based on a background check. People who have been convicted of a felony or a Class A or B misdemeanor are not eligible to receive awards.
• 4. Businesses must be located in the Amarillo area (Potter or Randall counties) and businesses that receive grants must agree not to relocate for 4 years. Business that decide to move out of the area during the four-year period will be required to repay the full grant amount.
• 5. Relatives of judges and relatives of the Amarillo EDC, Amarillo EDC Board, WTAMU Enterprise Center and the Amarillo City Commission are ineligible.
• 6. Award recipients must agree to become a client and receive coaching and training from the WTAMU Enterprise Center for one year.
• 7. All award recipients must provide economic impact data quarterly to the WTAMU Enterprise Center for the life of their business.