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$25,000 to be awarded to New Hampshire Start Up

On June 2nd the Manchester Young Professionals Network (MYPN) will award $25,000 in cash and in-kind services to the winner of the MYPN NH Start Up Challenge business plan competition. The event is being held at the New Hampshire Institute of Politics at Saint Anselm College on June 2nd at 5:30pm and is free and open to the public.

The event will feature an exclusive opportunity for the two remaining finalists, TRX Sports and Nearby Registry, to deliver an elevator pitch to the audience. The winner will then be announced for the first time in front of the attendees. Guests are encouraged to pre-register at www.mypn.org.  

mypn2“The NH Start Up Challenge is emerging as New Hampshire’s signature business plan competition,” said E.J. Powers, Chairman of MYPN. “We were extremely impressed by the quality of business plans submitted and are hopeful that the assistance provided to the winner, courtesy of many generous sponsors, will go a long way in making their business a success.”

The finalists include TRX Sports which has created “FLEYE” a video and GPS products and systems that allow sports enthusiasts to capture their experiences and share them online. 

“Participating in the MYPN NH Start Up Challenge has been a tremendous opportunity to network with other successful entrepreneurs and experienced business professionals who can help us grow from a great idea into a great company,” said Cameron Miner, CEO of TRX Sports. “In addition to the great connections and media exposure that we have gained through the Challenge, winning the $25,000 award would be incredibly valuable for us right now. The prize money would enable us to install a FLEYE System at a NH resort this summer, allowing us to get some early exposure and do more testing in preparation for the full launch this winter.”

The other finalist is Nearby Registry, a provider of online gift registry service for independent retailers and service providers. “MYPN’s NH Start Up Challenge triggered me to transfer my long-time local gift registry idea into a tangible business plan that proves the benefit local registry sales will have for Nearby communities,” said Allison Grappone. “The $25,000 from the Challenge will make Nearby Gift Registry a reality, sooner.”

Over 50 entrepreneurs applied and five semi-finalists received scholarships and attended the Stonyfield Farm Entrepreneurial Institute.  Along with the scholarship, they also received guidance and support regarding important aspects of their business plan from SCORE mentors.  Two finalists, TRX Sports and Nearby Registry were then chosen to present their business plan to the challenge judges consisting of Phil Ryan, Merchants Automotive Group; Kathleen Cook, Bean Foundation; Graham Chynoweth, Dynamic Network Services; Richard (Dick) Kimball, Bigelow & Company; and Steve Webb, TD Bank. The winner will be unveiled the evening of June 2nd.

The 3rd annual MYPN NH Start Up Challenge is a statewide business plan competition designed to encourage entrepreneurship and social innovation. The competition was created in 2008 by MYPN, New Hampshire’s first and largest young professional networking organization with over 3,000 members.

In less than three years, MYPN has awarded over $50,000 to New Hampshire start-ups. The 2010 competition winner was Play @ Work. Their goal is to help busy parents balance family, work and life by providing office space while their young children enjoy a supervised playgroup in a welcoming, child-friendly atmosphere.

The 2009 Start Up Challenge winner was Float Left Labs, a non-profit that assists other non-profits with marketing and web design needs. Float Left Labs has been open for business for over a year and is achieving its goal of providing marketing services to non-profits such as New Hampshire Businesses for Social Responsibility, Families in Transition and the Nashua Senior Center.

Public Service of New Hampshire is the presenting sponsor of the MYPN New Hampshire Start Up Challenge. Additional sponsors include FairPoint Communications, DYN Inc., abi Innovation Hub, Sheehan Phinney Bass + Green, Howe Riley and Howe, Business NH Magazine, Anagnost Companies, Montagne Communications, Wells Fargo Advisors, Northwestern Mutual, Merchants Automotive, McLane Law Firm, The Daymark Group, Wiggin & Nourie, Ogden Media and Z food & drink. Additional sponsorship opportunities are still available.

For more information please visit www.mypn.org.

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