Hormel Family Foundation announces new competition

The Hormel Family Foundation announced today that it has begun accepting submissions for the annual Hornel Business Plan Competition, which will take place at the Hormel Business & Technology Center on the McCook Community College campus on June 6.

The deadline for this year's competition is May 18.

Detailed information about the event, as well as application forms and competition rules can be found at the Foundation's Web site www.hormelfamityfoundation.com.

"We have high hopes for this year's competition," said project initiator and Hormel Family Foundation board member Ben Hornel Harris.

"Last year brought a number of interesting business ideas to our attention, and this year we expect to see even more innovation and creativity, given the fact that interested contestants have had longer to prepare," he continued.

The Hormel Business Plan Competition is open to anyone interested in locating a small business in or near McCook. Start-ups and existing local business owners alike are encouraged to compete for the $25,000 cash prize, as well as consulting and advertising services valued at $10,000.

In exchange for the $25,000 investment, the Hormel Family Foundation will take a minority stake in the winning business. This unique approach to investing ensures a mutual commitment to the success of the business.

"As the Foundation's portfolio of successful companies grows, the ultimate beneficiary is the community of McCook, and that is the whole point of what we're trying to achieve here," Ben Harris concluded.

Spearheaded by the Hormel Family Foundation, the Hormel Business Plan Competition enjoys generous support from Community Hospital and McCook Community Development Company, comprised of AmFirst Bank, McCook National Bank and Wells Fargo.

The Hormel Family Foundation is a non-profit organization committed to education and business development in McCook.

It was founded in 1999 by the late Ben F. Hormel, himself a McCook businessman. In addition to the Hormel Business Plan Competition, the Foundation provided the funding for the Ben F. Hormel Technology Center for Business and Industry on the McCook Community College campus.