Great Lakes Entrepreneur's Quest Delighted With a 60% Participation Increase in its Statewide Business Plan Competition

ANN ARBOR, Mich., Nov. 19 /PRNewswire-USNewswire/ -- The Great Lakes Entrepreneur's Quest (GLEQ) experienced a more than 60% increase in start-up participation in its annual two-phase business plan competition compared to the 27 companies competing in 2006. This year, forty-four companies are competing in Phase I where professional investors and start-up experts assess the entrepreneur's executive summaries. "Internet technology has had a huge increase in activity compared to last year and now represents greater than 40% of all companies in the competition", said Art DeMonte, Executive Director of the GLEQ. Other technologies represented in the competition include: alternative energy, life sciences, advanced manufacturing, and new services and products.

Key to the success of the GLEQ program is the addition of two powerful training options for GLEQ entrepreneurs: FastTrac(R) TechVenture(TM) and Cantillon eCourse. Theses programs are strongly supported through key partnerships with the Michigan Small Business Technology & Development Center, Ann Arbor SPARK, Automation Alley in Troy and TechTown in Detroit.

About 80% of the 44 competition registrants are from southeast Michigan with half of those in Ann Arbor alone. Western Michigan had 6 competition registrants while entrepreneurs from Houghton, Traverse City and Flint also are in the hunt to be designated top company.

The GLEQ sponsors a statewide business plan competition with particular emphasis this year on Business Commercialization. The GLEQ is structured into two distinct maturity "paths": companies with more developed businesses compete in the Emerging Company (EC) path, while teams with new or less developed business ideas compete in the New Business Ideas (NBI) path. In Phase I, both EC and NBI executive summaries will be assessed by up to four professional investors - with highly valuable written feedback provided to the entrepreneurs. Winners in Phase I can receive cash awards up to $5,000 and in- kind services from legal, marketing and accounting sponsors.

More information about each company can be found at www.gleq.org The full list of GLEQ companies in the business plan competition follows:

                         Phase I - 2008: 44 companies

     1.  AJLSOFT, INC Clarkston
     2.  AmpTerra Ann Arbor
     3.  BioLumix Ann Arbor
     4.  C6 Aerospace Ann Arbor
     5.  CADcorporation.com Ann Arbor
     6.  CLEAN EMISSION FLUIDS Harrison Township
     7.  Caring Counselors Ann Arbor
     8.  DevHive Farmington Hills
     9.  Ethanol & Electric LLC Detroit
     10. Funutation Tekademy LLC Cleveland, Ohio
     11. GeoJab Battle Creek,
     12. Green Weddings - Michigan Traverse City
     13. Healthcare Data Solutions Ann Arbor
     14. Inland Seas Cruise Line Ann Arbor
     15. Intellingen Ann Arbor
     16. InTune LLC Ypsilanti,
     17. Miller-Schuring Agency Inc Kalamazoo
     18. MITechPodcasting Grand Rapids
     19. MaterialWerks, LLC Oxford
     20. meet Ann Arbor
     21. MentalNote Royal Oak
     22. Mobile Sign Language Systems LLC Ypsilanti
     23. NJ Baker & Company Lawrence
     24. National Adopt-A-Watt Program Royal Oak
     25. NextPhase Ventures DEXTER
     26. OcuSciences, Inc.  Ann Arbor
     27. OPS Solutions LLC Belleville
     28. OrgOrg Ann Arbor
     29. PolyGreen Ann Arbor
     30. Proca Power Rochester
     31. PULSE VIDEO GAME CLUB (VGC) Detroit
     32. Pure Entropy Technologies Troy
     33. RateMyStudentRental, LLC Flint
     34. RaveSession Sterling Heights
     35. RealKidz, Inc. Ypsilanti
     36. RentSold.com Berkley
     37. RS Wallace Electric, Inc Kingsley
     38. sci_Zone Holland
     39. SkinTreet Ann Arbor
     40. SmartKart Royal Oak
     41. Tech Initiatives Houghton
     42. TouchStone Innovations Ann Arbor
     43. Volturna Grand Rapids
     44. ZeroTech Interactive Detroit

To register for the competition, training classes, learn more about the competition's eligibility requirements or register for Phase II please visit www.gleq.org.

About the Great Lakes Entrepreneur's Quest (GLEQ)

The GLEQ, is a program designed to accelerate the formation of high-growth companies across Michigan. Anyone who lives, works or attends school in Michigan can participate in the educational programs and business plan competition. Over $22 million was recently awarded to twelve GLEQ alumni from the 21st Century Jobs Fund, bringing the total investment into GLEQ companies to over $40 million. The GLEQ is a proud recipient of a grant from Michigan's 21st Century Jobs Fund to continue to strengthen its program.

The GLEQ provides coaching, mentoring, business training and entrepreneurial discussions to entrepreneurs statewide. It also sponsors a two phase statewide business plan competition each year. The competition is structured into two distinct maturity "paths".

Phase I of the competition requires an executive summary to be developed and in Phase II, which begins in February, an 8-12 page business plan is completed. Cash awards up to $5,000 and $25,000 in Phase I and II respectively and in-kind awards are provided to the winners. Innovation Awards sponsored by Automation Alley, Next Energy and Southwest Michigan First provide investment amounts up to $12,500 for teams meeting the sponsor criteria. Total disbursements in 2008 will exceed $120,000.