Next Hormel competition launches with over $25,000 in grants available

McCOOK, Neb. -- "Economic Growth in Southwest Nebraska" is the theme for the next Hormel Entrepreneurial Competition, the time to apply is right now for more than $25,000 in business grants.

McCook Community College's Business and Community Education and the Hormel Family Foundation are looking for potential business ideas to be part of the next local competition. Applications are due Dec. 2.

The competition is open to new business development in seven Southwest Nebraska counties including Chase, Dundy, Hitchcock, Hayes, Frontier, Red Willow, and Furnas Counties.

"If you have a business idea or a plan to expand your current business, I encourage you to apply for the new 2016/2017 Hormel Business Plan Competition," said Andy Long, McCook Community College vice president.

"One of the best ways to keep southwest Nebraska economically sustainable is to help support and develop the people and businesses we already have."

Long said because of a generous donation from the Hormel family and many area sponsors, a new edition of the Hormel Business Plan Competition starts this fall.

Revisions have been made to the previous business plan competition to allow for more economic growth in southwest Nebraska.

"The winner will no longer receives prize money in the form of a small business loan. Multiple contestants are awarded with up to $25,000 in grants to develop their business ideas or expand on current business with no strings attached," Long said.

Applicants will receive assistance in writing business plans, money to help develop businesses, and professionals to provide expertise in several areas.

"I hope we can help turn your dream into a reality. This will create a better future for not only individuals and small business but also Southwest Nebraska," Long said.

Because of a tweak in the bi-annual competition in 2014-2015 -- which previously tied the winners to an equity partnership -- this "no strings attached format" helped produce a record number of 37 applicants for the last competition. Almost half of the applicants were named as semi-finalists and received a scholarship to attend, the on-line Entrepreneurship Business Plan writing class offered through Mid-Plains Community College during the 2015 spring semester. The classes are an important element to the current competition as well.

This competition began in 2007, open to McCook residents but in 2015 the competition was expanded to included business interests from nine counties and in addition to the $30,000 prize money the HEC gave awarded $1,000 to all the finalists as well as a total of $4,230 in scholarships

The Hormel Family Foundation was founded in 1999 by the late Ben F. Hormel to support MCC. Among his entrepreneurial ventures, Hormel operated the Chevrolet dealership in McCook. When he died in 2002, he passed on the torch to his children and grandchildren, who operate the foundation today. The main objective of the competition is to stimulate entrepreneurship and support business expansion in Southwest Nebraska.

Local sponsors will allow the college to keep the program going every other year, for at least the next five years. Gold sponsors include Community Hospital, MNB Financial Group and the McCook College Foundation.

McCook Economic Development Corporation is a silver sponsor. Bronze sponsors are AmFirst Bank, First Central Bank, Adams Band and Trust -- Imperial. Media sponsors include: McCook Daily Gazette, Hometown Family Radio, and High Plains Radio.

For more information about the competition please call the MCC's Community and Business Education at 308-345-8122, email: HormelEntrepreneurshipCompetition@mpcc.edu

For competition rules, deadlines and complete details please visit the Mid-Plains Community College web site and click on the "Hormel Entrepreneurship Competition":

http://www.mpcc.edu/community/hormel-entrepreneurship-competition