2020 Delay Notice

i.d.e.a.WF is on pause due to the ongoing COVID-19 crisis. Please check back regularly for details.

Step

1

Attend one of four identical orientation sessions.

Details

Step

2

Enter the competition by submitting an investor fact sheet, application, credit reports on the owners, and the $295 entry fee.

Step

3

Attend six workshops that will lead you through the i.d.e.a.WF and business planning process.

Details

Step

4

Submit your business plan draft for feedback.

Step

5

Receive feedback and refine your plan by working with consultants at the Dillard College of Business at MSU Texas.

Step

6

Submit your final business plan.

Step

7

Attend the “How to Pitch a Plan to Investors” workshop

Details

Step

8

Work with consultants to develop and perfect your pitch.

Step

9

Make your pitch!

Step

10

Attend the awards ceremony (date to be determined.)

About i.d.e.a. wf

Since its inception in 2010, i.d.e.a.WF has awarded more than $250,000 in cash and about a half million of in-kind services to thirty different winners. In 2018, those winners combined to generate sales revenues of more than $9 million and to employ more than 100 people!
Participants in i.d.ea.WF will be led through the business planning and startup or expansion processes. Six orientation sessions, as well a series of eight unique seminars will teach entrepreneurs exactly what they need to do to plan their business, conduct market research, make sales and financial forecasts, market their companies, pitch to investors, keep accurate business records, understand those records, and pitch their plan to investors. i.d.e.a.WF is sponsored by the Wichita Falls Economic Development Corporation and overseen by Lalani Center for Entrepreneurship and Free Enterprise, which is located in the Dillard College of Business Administration at MSU Texas. The purpose of i.d.e.a.WF is stimulate the local economy by providing funding and other resources to entrepreneurs in Wichita Falls. Winners can use their funds to open new businesses or expand existing businesses, so long as they primary create jobs.

Benefits

In addition, participants will be offered free and confidential business consulting services and access to research databases that will empower them to make better decisions for their businesses. Participants should ideally treat i.d.e.a.WF as a six-month commitment and an investment that will enable them to work on their businesses rather than working in their businesses.
The Wichita Falls Economic Development Corporation, through its 4A board, has committed up to $250,000 in funding for the 2020 investment cycle. From three – five individual winners will share that funding, and each business is eligible to receive up to $100,000. Contestants will be eligible to proceed through the competition at three successive screenings: 1) the application and investor fact sheet, 2) the business plan, and 3) the investor pitch. Cash prizes that are funded by the 4A board are subject to both board and city council approval.

Orientations

re-scheduled dates coming soon

Location: Dillard College of Business Administration at MSU Texas.

Apr

7

Tuesday

Date

TBD

Orientation 4

Room 189
3:00 - 4:30 PM

Apr

4

Saturday

Date

TBD

Orientation 3

Room 189
11:00 - 12:30 PM

Apr

2

Thursday

Date

TBD

Orientation 2

Room 189
11:30 - 1:00 PM

Mar

30

Monday

Date

TBD

Orientation 1

Room 189
5:30 - 7:00 PM

Workshops

re-scheduled dates coming soon

Location: Dillard College of Business Administration at MSU Texas.

Sep

15

Tuesday

Date

TBD

How to Pitch a Plan

Room 189
5:30 – 7:30 PM

Jun

30

Tuesday

Date

TBD

Guerilla Marketing

Room 274D
5:30 – 7:30 PM

Jun

16

Tuesday

Date

TBD

Pro-Forma Statements

Room 274D
5:30 – 7:30 PM

Jun

2

Tuesday

Date

TBD

Sales Forecasting

Room 274D
5:30 – 7:30 PM


May

19

Tuesday

Date

TBD

Market Research

Room 274D
5:30 – 7:30 PM

May

5

Tuesday

Date

TBD

Financial Statements

Room 274D
5:30 – 7:30 PM

Apr

21

Tuesday

Date

TBD

Business Planning

Room 274D
5:30 - 7:30 PM

Judges

Businesses will be selected to advance at each round by an independent panel of five judges. The judges will consist of the following:

Dr. Scott Manley, the Munir A. Lalani Professor of Entrepreneurship at MSU Texas, Mr. David Toogood, the President and CEO of Work Services Corporation. Mr. Toogood also serves on the 4A board and will be the primary representatives.

Other judges will be selected from those individuals who have developed and owned a significant and successful business, a commercial loan officer, and a civic and/or community leader. These judges, who will be volunteering their time and expertise to i.d.e.a.WF, will have a broad range of experience and will thus be capable of evaluating firms from any industry. Final eligibility and approval of winners will be made by the 4A board and Wichita Falls city council.

Contact

Dr. Scott Manley
Lalani Center for Entrepreneurship and Free Enterprise
Dillard College of Business Administration

MSU Texas
3410 Taft Boulevard
Wichita Falls, TX 76309

Contact Form

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