Charlotte Venture Challenge launches its 2012 business plan competition

The Charlotte Venture Challenge business innovation competition, formerly known as Five Ventures, is accepting applications from early-stage entrepreneurial companies. The deadline is Feb. 29.

The Charlotte Venture Challenge is the region’s premier business plan competition, organized by UNC Charlotte’s Charlotte Research Institute and The Ben Craig Center. For the first time, prize money to be awarded to the winning companies will top $100,000.

The Belk College of Business is a long-time sponsor of the Charlotte Venture Challenge.

Judged by top business leaders including some of the area’s most successful entrepreneurs, angel investors and venture capitalists, winning companies will be chosen in six categories of competition: 1. New Energy & High Tech, 2. IT & Informatics, 3. Life and Biotech Sciences, 4. Consumer Products and Services, 5. Student Ventures and 6. Social Enterprises. Student Ventures must be operated by students enrolled in community colleges or four-year institutions.

In its 11th year, the Charlotte Venture Challenge has been renamed to encompass a broader mission: to establish a nationally significant competition that accelerates the growth of scalable new ventures in the Charlotte region and builds recognition of Charlotte as an innovation center.

“The Challenge has launched a number of significant companies in its history,” said Paul Wetenhall, president of the Ben Craig Center. “Our new sponsors and increased prize money are indicative of the accelerating activity and growing support infrastructure that the entrepreneurial community enjoys in the Charlotte region.”

The competition includes a series of five workshops for registered firms beginning Feb. 1. Over the course of three months, participants will learn about opportunity assessments, receive mentoring and connect with other entrepreneurs. The high-stakes finals and awards will be held on April 19.

To apply, visit www.charlotteventurechallenge.com.