DIXON – An entrepreneurial competition in Dixon could soon be official, the mayor said.
Representatives from the city and Dixon businesses and organizations met with Lee Crockett, of Venture Advisors LLC, Friday morning to discuss bringing an entrepreneurial competition to Dixon.
It was the second such meeting since Feb. 14, when the idea for a competition that could result in a new business in downtown Dixon and greater entrepreneurial development in the city was first discussed.
The official agreement is likely to be made between Venture Advisors and both Dixon Main Street and the Dixon Area Chamber of Commerce.
It could be signed during the next meeting, Mayor Jim Burke said, which could happen in the next week or so.
Having both Main Street and the Chamber of Commerce on the agreement, Main Street Executive Director Josh Albrecht said, will help include as many businesses and individuals in the process as possible.
The competition could bring “an excitement about entrepreneurism in Dixon and (people) thinking Dixon first what they’re starting their businesses,” Albrecht said.
During Friday’s meeting, Burke said, $9,000 was pledged by local business leaders toward the overall cost of the competition, which was estimated to be about $30,000.
There also was $6,000 in rental credit pledged, Burke said, which could go toward the prizes.
Venture Advisors likely would get paid about $10,300 in the agreement.
Prizes for the winners, Crockett said Feb. 14, don’t have to be more than $5,000 to bring the serious interest the city will want.
One of the biggest benefits to having the competition, Albrecht said, was the mentorship aspect that will help the competition winners have business plans ready to be put into action.