Posted at: 06/10/2014 4:52 PM
Updated at: 06/11/2014 9:33 AM
By: Maarja Anderson
In its third year, the Northwest Wisconsin Business Idea contest is once again looking for entrepreneurs to offer up their ideas.
The contest provides cash for winning ideas, in hopes of spurring new business that sticks in northern Wisconsin.
Mark Snow was the second place winner in the 2013 contest. His idea is the Veteran's Radio News Brief, a 3-minute newscast catered to veterans and military personnel. He plans to disseminate the program nationally.
With the $1,500 Snow won last year, he bought a computer and recording gear.
Snow said he worked in radio for years and now he owns a barber shop, but the contest prompted him to pitch his new idea. He served in the Marine Corps for four years.
"I said, why don't I just create my own veteran's radio news brief and distribute it nationally. There's plenty of news for vets and nobody is doing it, so actually they inspired me to come up with the idea of it," said Snow.
Right now, Snow is in the process of selling his business so he can work on his news program full time. He's also working on lining up grants for more funding.
Julianne Raymond with the Small Business Development Center at UW-Superior said the contest not only helps entrepreneurs start out, but it also helps them learn how to pitch an idea.
The finalists compete for the prizes by giving a 2-minute pitch.
"People will then know how to evaluate your idea, not only based on the wow factor, but on your ability to know how is it going to make money and what customer base are you going to appeal to," explained Raymond.
Raymond said it's easy to get into the contest. If you have an idea and it would bring business to Ashland, Bayfield, or Douglas counties, all you need to do is apply by June 20.
Finalists present in early August and the top idea wins $2,500.
For more information, click here.