The Rhode Island Business Plan Competition today launched its 2008 season. With a record $150,000-plus in prizes, the contest will rank among the richest such competitions in New England, organizers said...

...Applicants need not be based in Rhode Island, but must agree to use any winnings to expand or establish operations in the state...

“Each year the competition attracts more applicants and sponsors, which shows that there is a strong interest in supporting emerging entrepreneurs in Rhode Island,” said competition Co-Chair Garrett B. Hunter, the president of the Business Development Company of Rhode Island.

...“Winning the Rhode Island Business Plan Competition has been shown to significantly help a young company on its way”... said contest Co-Chair Charles Kingdon, associate vice president of Brown Technology Partnerships at Brown University.