Several opportunities available to businesses
HOULTON, Maine — Area businesses are invited to become partners in the Houlton Entrepreneur Challenge to get exposure for their company and to take advantage of the opportunity to be associated with this unique approach to business recruitment.
The Houlton Entrepreneur Challenge, featuring a $35,000 incentive package, was announced in May. The contest is presented by the Town of Houlton, Southern Aroostook Development Corporation (SADC) and major financial partner Machias Savings Bank.
The challenge is open to all legal U.S. residents and all individuals eligible to conduct business in the U.S. who are 18 years of age or older at the time of entry. The proposed businesses can be independent operations or franchised and they can be a one-person or a team concept. A current Houlton business can apply as an expansion, so long as it introduces a new element in the current business.
The program will include three phases and features a mandatory educational component so participants are well prepared for their new venture. Phase I begins with a seminar on Sept. 1
The winner will be announced the week of January 23-27. The selected business will receive the $25,000 forgivable loan as well as multiple benefits to aid in the start or expansion of their business.
There are several different ways that a business can become a partner in the Houlton Entrepreneur Challenge. They include financial partnership, business partnership, promotional partnership and media partnership. All include varying levels of publicity and tie in with the program.
A financial partnership involves a minimum contribution of $1,000 toward the incentive package. Financial partners will have their logo appear on the cover of the program manual and on the Houlton Entrepreneur Challenge web page as well as being mentioned in publicity, highlighted in program presentations and recognized at Challenge educational programs and additional promotional efforts over a 12-16-month period.
Business partners provide a product or service as an incentive to the winner of the Houlton Entrepreneur Challenge or to other participants. These partners will be featured in the program manual and on the Houlton Entrepreneur web page as well as other publicity.
A promotional partner is a business who helps fund the promotion of the challenge to potential participants in the area and around the state through Internet, print, radio and television. This can involve sponsoring advertising through various media outlets through their own advertising contracts. Three levels of promotional partnership are available including Top Gun for $1,500 or more, Launch Pad for $1,000-1,499.99 and Mentor for $500-$999.999. For Top Gun and Launch Pad levels the business’s logo will appear on the cover of the program manual and on the Challenge web page. Mentor level partners will be featured in the manual and on the web page. All levels will receive promotion for a 12-16-month period.
Media outlets are encouraged to consider being a media partner by providing advertising space or airtime in their publication(s) or on their station(s). The levels are the same as the promotional partners — Top Gun for $1,500 or more, Launch Pad for $1,000-$1,499.99 and Mentor for $500-$999.99. The promotional coverage for those levels is also the same as for promotional partners.
The Houlton Entrepreneur Challenge is a contest for new business ideas, existing businesses with a new idea or expansion plan, as well as businesses outside the area who are interested in opening an operation in Houlton. The selected business will receive an incentive package that includes a $25,000 forgivable loan as well as donated services by several area businesses.
The program will officially kick off on Sept. 1 with a “Starting Your Maine Business” seminar. Initial business concepts must be submitted by Sept. 16.
In addition to Machias Savings Bank, the other financial partners are Houlton Water Company, Buildings Etcetera, F.A. Peabody Company, J. McLaughlin Construction, MMG Insurance, S.W. Collins Company and York’s of Houlton. Business Partners already committed to the program are Severson, Hand and Nelson, Northern Maine Media/WHOU 100.1FM, F. A. Peabody Company and OTT Communications.
Further information on the Houlton Entrepreneur Challenge is available on the town’s web site at www.houlton-maine.com or SADC’s web site at www.sadcaroostook.org. Program manuals with all pertinent information can be downloaded from these web sites. Copies are also available at the Houlton Town Office, Machias Savings Bank’s Houlton branch and other locations around town.
Information is also available by calling Nancy Ketch, Houlton community development director, at 521- 5938 or Jon McLaughlin, SADC executive director, at 521-0157.
