Frequently Asked Questions
Q: Now that the contest is over, when will semi-finalists be chosen?
A: Semi-finalists will be chosen from applicants on or around January 6, 2009. Date subject to change.
Q. When will the winner be announced?
A: On or around March 31, 2009. Date subject to change.
Q: Where must my business be located?
You must operate your business (or be willingness to start/relocate the business) in any one of the 32 participating PA counties:
| Adams | Clinton | Fulton | Mercer |
| Bedford | Crawford | Huntingdon | Mifflin |
| Blair | Cumberland | Indiana | Perry |
| Cambria | Dauphin | Jefferson | Potter |
| Cameron | Elk | Juniata | Somerset |
| Centre | Erie | Lancaster | Venango |
| Clarion | Forest | Lebanon | Warren |
| Clearfield | Franklin | McKean | York |
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Q: I live in one of the 32 listed counties, but my business is outside of this area. Am I eligible to apply for the contest?
A: No, the location of the business is the determining factor for eligibility.
Q: What is the final deadline for entry submissions?
A: December 17, 2008.
Q: How may entries be submitted?
A: Entries are accepted electronically ONLY. No entries will be accepted by regular mail.
Q: How do I know if my business is eligible?
To qualify, entrepreneurs must have:
- A new marketable business idea
- Less than $500,000 in sales in year-to-date 2008 and less than $500,000 for the full year of 2007
- Fewer than 50 employees in 2007 and 2008
- Not received previous BFTP funding for this business
Q: Will the confidential information in my business plan be seen by anyone else?
A: All information and submissions are kept strictly confidential and will not be shared with any outside agencies. In addition, all contest reviewers have signed confidentiality agreements.
Q: What can the award money be used for?
A: Awards must be used to start or further develop the business. Within the business plan, you will describe how you will use the prize money in conjunction with key milestones. You will receive four tranches of money corresponding with those milestones.
Q: My business is less than a year old. Can I apply?
A: The age of the business is immaterial to this contest, unlike previous Ben Franklin-sponsored contests with which you may be familiar.
Q: What type of businesses are preferred?
A: Eligible companies will come from technology-based and manufacturing sectors. This does NOT include service or retail industries. Preferred sectors include
- Advanced manufacturing
- Advanced materials
- Nanotechnology
- Alternative energy
- Green technologies
- Medical devices
- Software
- Information Technology
Q: Can I apply if I have a great business idea but have not yet formed the business?
A: Yes.
Q: Is there a limit to the number of employees my business can have?
A: The contest is open to any company with fewer than 50 employees as long as all other requirements of the contest are also met.
Q: If I submit my application before the final deadline in December but need to make a change, can I resubmit my plan?
A: All changes will be accepted until the final deadline of December 17, 2008.
Q: Can a person submit more than one application to the contest?
A: Only one application per business is acceptable. There is no limit to the number of separate businesses for which you can submit applications.