The University of Maine’s Business Challenge has netted a three-year, $10,000 annual sponsorship from the Hampden-based Business Lending Solutions.
With the agreement, the competition will be called “UMaine Business Challenge, presented by Business Lending Solutions.”
Now in its sixth year, UBC is a collegiate business competition for students attending Maine colleges and universities. Students from schools across the state compete for more than $20,000 of cash and in-kind consulting to help start or grow their business.
“This agreement represents a turning point for the UMaine Business Challenge, allowing us to shift our focus from prize fundraising to developing high-quality programming that teaches students how to create and present a successful business plan,” said Nicholas LaJoie, the 2016-2017 UBC Planning Committee Chair, in a statement.
In addition to funding a first place cash prize of $5,000, Business Lending Solutions will provide competitors with consulting support throughout the competition and will also work closely with the UBC leadership to help expand its reach by encouraging greater statewide participation in the annual business competition.
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