SALT LAKE CITY--(BUSINESS WIRE)--Entries begin March 13 for Grow America Springboard, Grow America’s regional business competitions to reward and support Utah’s best entrepreneurs. Grow America Springboard events allow entrepreneurs to compete for cash awards and business services to help them create new jobs and lift local economies. Grow America (www.growam.com) will provide $1,000,000 in cash awards and resources over the course of three events in 2012 and a Utah state championship in January 2013.

The first 2012 competition will take place May 21, 2012; details to be announced. The Round 1 deadline for entry is midnight, April 6, 2012 MDT. Grow America expects thousands of entries and will award prizes in three main areas of focus:

 

• Idea Category (Concept): I have an idea for a business; I don’t have a complete plan for my business; I have not invested significant resources into validating my business assumptions; I am looking for money I can use to validate my idea.
• Start-up Category (Emerging Business): I have a plan for my business and have started validating my assumptions; I have started talking with potential customers; I know what resources it will take to build my product or service, and I am looking for money to get started.
• Ramp-up Category (Growth): I am currently operating the business; my business is breaking even and has generated profits; I have established sales and sales projections; I am looking for money to go to the next level.

The eligibility requirements are as follows:

 

• You must be 18 years old or older
• You must live in Utah or your business operations and jobs must be located in Utah
• You must be able to attend the May event in person (must be present to win)

To enter, go to http://growam.com.

Springboard competitions are supported by community partners who believe in Grow America’s vision. They want to support entrepreneurs and to strengthen the local economy through the development of new businesses and the growth of existing small businesses.

The Grow America Springboard competitions are judged by a panel of business experts who have started and successfully grown their own businesses. The panel also includes angel and venture capitalists who know what to look for in a business that has the potential to grow, create new jobs and strengthen the economy.

In addition to the winners, other participants in the Grow America Springboard competition will receive valuable service awards and benefit from their involvement through networking events and other activities and opportunities to connect with potential business mentors and investors to enable them to fulfill their dreams.