Public Invited to April 9th Business Plan Competition Finale

Three companies named finalists in North of Boston Business Plan Competition

SALEM, Mass., March 29, 2012 /PRNewswire-USNewswire/ -- The finalists have been announced in the 2012 North of Boston Business Plan Competition sponsored by the Enterprise Center at Salem State University. They will compete for cash prizes on Monday, April 9th, in the recital hall on the university's central campus in front of an audience of regional business leaders and interested observers. The public is welcome to attend both the presentations and the reception that follows.

One of the following will take home the $5,000 first prize; second and third place winners will receive $3,000 and $2,000, respectively.

• Advastim™ LLC of Beverly, MA, produces a wireless (leadless) neurostimulator system that can potentially minimize complications and improve long-term effectiveness of spinal cord and other neurostimulation treatment. www.advastim.com
• Imagination Brands is the manufacturer of Doodle Roll®, an all-in-one paper and crayon activity kit. The Beverly-based company develops a variety of innovative, sustainable, fun and affordable arts and crafts and business products. www.imaginationbrands.com
• Shady Oaks Organics is meeting the needs of local restaurants and markets for fresh, gourmet mushrooms. They grow several varieties of oyster and shitake mushrooms organically in Newburyport, MA. www.shadyoaksorganics.com

The competition, which is designed to encourage companies to start and grow their businesses on the North Shore, drew more participants than ever this year. Most were attracted more by the opportunity to focus on writing a business plan and to meet local business leaders than by the prizes.  Past winners have cited the competition as being a key factor in their success.

From the comments and advice received from the judges, who can include early stage investors, venture capitalists, bankers and other experts, to the exposure to both consumers and the North of Boston business community, the Competition has helped kick start many young businesses in the region. Proof of the Competition's value to the regional economy can be seen in the 10 sponsors, the 14 co-sponsoring business organizations, and the many business people who attend the final presentation.    

"These companies are our future," said Laura Swanson, COO of the Enterprise Center, which has run the Competition for eight years.  "We need them, and we need to support them so that they will put down deep roots right here on the North Shore."

The Competition is grateful for the support of its GOLD Sponsors: TD Bank and People's United Bank; its SILVER Sponsors:  Salem Five Charitable Foundation, Community Credit Union, East Boston Savings Bank, North Shore Technology Council, Ozzy Properties, Phil Holberton Pitch Coaching; and Media Sponsor, The Salem News.

Co-sponsors of the 2012 competition include the 128 Innovation Capital Group, Amesbury Chamber of Commerce, Bertolon School of Business at Salem State University, Cape Ann Business Incubator, Creative Economy Association of the North Shore, Greater Newburyport Chamber of Commerce, Lynn Area Chamber of Commerce, Marblehead Chamber of Commerce, Merrimack Valley Economic Development Council, North Shore Alliance for Economic Development, Peabody Chamber of Commerce, Salem Chamber of Commerce, Salem State University Alumni Association and the Small Business Development Center at Salem State University.

For more detailed information about the 2012 North of Boston Business Plan Competition, visit www.enterprisectr.org/bpc or call (978) 542-7528.

The Enterprise Center arms business owners with the knowledge and skills to start their business, grow and succeed. It is located at 121 Loring Avenue, Salem, MA  01970.  Phone 978-542-7528, www.enterprisectr.org.

SOURCE Enterprise Center at Salem State University