LGEC is made up of two main components:
1) The Written Business Plan: Students create a detailed business plan outlining their vision for a business they would like to start in Rhode Island. The written plan includes a company logo, mission statement, marketing plan, market analysis and more.
2) The Business Pitch: After all written business plans are scored, the top five scoring students advance to a final pitch competition. During the final competition, students give an oral presentation (business pitch) to a panel of judges made up of successful Rhode Island entrepreneurs. The final five students will receive scholarships based on the their business pitch scores.
- 1st place - $4,000 scholarship
- 2nd place - $2,000 scholarship
- 3rd place - $1,500 scholarship
- 4th place - $1,000 scholarship
- 5th place - $500 scholarship
WHO IS ELIGIBLE?
All Rhode Island high school students in grades 9-12 from public, private, charter and homeschooling groups are eligible to compete. The student must be a Rhode Island resident. The competition is for student-created business ventures. In other words, students must:
- Have played a major role in conceiving the proposed venture
- Have a key management role in the proposed venture
WHEN IS THE CHALLENGE?
Friday, May 25, 2018, 8:00 PM: Students submit written plans via e-mail to firstname.lastname@example.org.
Tuesday, June 5, 2018, 8:00 PM: The Lt. Governor’s Office announces the top 5 students who will advance to the final competition.
Saturday, August 18, 2018, 10:00 AM: Top 5 students give their business pitches at the final competition. Location: New England Institute of Technology, East Greenwich.