A business model competition to create jobs

Tulsa, OKLA (November 16, 2011) – In a world where a vast majority of support is given to technology startups there is now support for the other 6.7 million* entrepreneurs starting a new business this year. Sean Griffin, CEO of StartUp Cup, today announced the launch of StartUp Cup, a grassroots, locally driven, business model competition that can be replicated in any community. Local StartUp Cups are open to any kind of business and this proven model has already helped launch more than forty-six businesses since its creation in 2007.

“Entrepreneurs are the solution to our current economic crisis but communities are challenged to support a diverse entrepreneurial climate,” said Griffin. “Look at any city and you will see hit and miss, short-term efforts, but nothing provides the long-term support needed and truly develops a business and business owner over the long haul.”

The fundamentals of StartUp Cup were developed in Silicon Valley during the dot-com era and transplanted to Tulsa, Oklahoma beginning in 2007. After five years of testing and refinement the model is being offered to other communities to replicate.

Local StartUp Cup participants will develop a viable business model through a seven month judging, coaching and mentoring process. StartUp Cup provides all the tools needed to drive this competition. Organizations purchasing a $199 license will receive a step by step guide, access to an online project management system, website template and hosting to promote their efforts, bi-weekly coaching and online support. Communities may upgrade for more support if they feel it is needed.

The first StartUp Cups will host their kick off events in April with winners being announced during Global Entrepreneurship Week. Three communities have already committed to launch in 2012 and more than sixteen communities have expressed interest.

“There is no one size fits all template for entrepreneurial development. Each entrepreneur is unique and has unique needs. There must be a human element, someone who can identify and support these unique needs. Most important, the support must be long term,” said Griffin.

About

StartUp Cup is a community based local business model competition. It is a proven model to build businesses and create jobs. Its objective is to annually launch more than fifty local competitions resulting in a growth of 150 viable businesses with more than 20,000 jobs.

For more information please contact: Kristen Bergman via telephone at 918-409-2246 or email kristen@startupcup.com.

* In 2010, an average of 0.34 percent of adults created a new business each month, equaling about 565,000 new businesses per month. Kauffman Index of Entrepreneurial Activity 1996-2010, March 2011