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NEWS

November 10, 2011

BUILD Bartlesville Contest to Provide Seed Grants to Winners

Bartlesville, Okla. — Early stage entrepreneurs, as well as current business owners in the Bartlesville area are encouraged to submit their innovative business ideas to the BUILD Bartlesville competition. BUILD Bartlesville is a new program developed by the Innovation Center at Rogers State University. Participants in the competition will compete for their share of $14,000 in grant funds that they can use to start or enhance their business.

Complete information about the competition may be viewed at the following website: www.buildbartlesville.info.

Entrepreneurs who plan to compete should go to the website and complete the intent-to-compete forms sometime between Nov. 7, 2011 and Jan. 27, 2012. Proposals are due on February 13, 2011.

"Sometimes entrepreneurs need a little capital to turn an innovative idea into a commercial success. We are offering an incentive to see if we can encourage more people to take their ideas to the next level," said David Wood, who serves as President and CEO of Bartlesville Development Corporation.

The competition is open to qualifying startups or businesses looking to expand in the Bartlesville area or willing to locate a business there, Wood said. The grants are intended to create jobs in the Bartlesville community and may be used for implementing ideas resulting in a new business, upgrading a product line or service, or branching into new markets. Successful proposals will have the potential to increase wealth for the Bartlesville area. To be eligible, the innovative product or service will generate more than one half of its revenues from outside Washington County.

Up to two entrants with the best plans to start or expand a business will receive a portion of $14,000 to go toward eligible costs, which include feasibility studies, market research, equipment, the purchase or improvement of property, marketing and more.

"One of our missions is to help businesses and grow jobs," said Dr. Ray Brown, RSU vice president for economic and community development. "Through the RSU Innovation Center and our partners we provide the assistance a business might need. This competition is another way to encourage entrepreneurship and small business development."

The Build Bartlesville Innovative Ideas Grant competition is a collaboration among Rogers State University, the Strategy Center at Tri County Technology Center, and the Bartlesville Development Corporation. Area sponsors include the 66 Federal Credit Union, Armstrong Bank, Arvest Bank, Banc First, Bartlesville Development Corp, RCB Bank, and the Rogers State University Innovation Center.

More information regarding the competition and eligibility requirements are available at www.buildbartlesville.info.