DIXON – Registration for the Dixon Business Competition could start as soon as next week, with a deadline in mid May.
Once the competition’s website is set up, interested residents will be able to register, said Lee Crockett of Venture Advisors, the company working with local businesses and organizations to bring the competition to Dixon.
The competition timeline, name, website and other elements were discussed during a meeting Wednesday morning between Crockett, Dixon Main Street Executive Director Josh Albrecht, Mayor Jim Burke and representatives from area business and organizations.
The contract with Venture Advisors to bring the competition to Dixon was signed by Main Street and Dixon Are Chamber of Commerce.
The group meeting Wednesday decided on the name – Dixon Business Competition – and Crockett and Venture Advisors will set up the website, based on the template the company has used for other competitions.
An informational “kickoff” event was scheduled for April 23, during which interested participants and sponsors can get more information about the competition.
The competition’s goal is to help potential entrepreneurs create a business plan that can be implemented into downtown Dixon immediately, sparking economic growth and entrepreneurship in the city.
Competition participants will submit a brief business plan, which will be judged by a panel of local business representatives to determine a set of finalists. The finalists will then present during a public event, and winners will be chosen.
While the details haven’t been finalized, there will likely be first-, second- and third-place winners, who will split about $10,000 cash and $6,000 in rent credit for a storefront.
Three seminars will help participants to put their business plans together. The seminars were tentatively scheduled for May 16 and 17, with two seminars being held May 17.
The judging is scheduled to take place during June, with final public presentation tentatively scheduled for June 25.
As of Wednesday morning, local businesses and organizations had contributed $12,000 toward the competition’s cost, Albrecht said, adding that all of the $1,000 checks have been contributed voluntarily, without organizers soliciting sponsorships.
The total cost of the competition is $30,000, so additional fundraising is expected to start this week.
Chris Brantley, owner of AVP Digital Studios, contributed the $6,000 in storefront rental credit.