Mickleton, NJ (PressExposure) July 18, 2008 -- Business plan competitions provide great opportunities for budding entrepreneurs to find funding, contacts, and feedback for their business. Chad Doerrmann of Mickleton, New Jersey, founded Monarch Bags LLC, a company that designs stylish mobility aid bags.
He recently participated in the Silicon Valley Business Plan Competition in May 2008. Twenty-four hours before the submittal deadline for the competition, Chad never heard of the SCU Business Plan Competition. When running low on funds, he decided to search business plan competitions online and came across the Boomer Business Plan Competition. Regarding the close deadline, Chad says, "I decided I didn't have much to lose and it was better finding out twenty-four hours before the competition than twenty-four hours after the deadline."
Two weeks later, Chad was notified that he made the semi-finals of the competition out of about 60 entries. While being eliminated in the second round of judging, Chad was pleased to make it to the top ten for the General Category of the competition. At the same time, it encouraged him to continue with his business and was a positive experience "the judges provided great feedback highlighting my businesses strengths and weaknesses."
Monarch Bags are sold on monarchbags.com, 1800wheelchair.com, and select medical supply stores.