In Lake Havasu City, there is a thriving community of entrepreneurs who fill the area with small businesses in every industry. Each of these play an important role in the economy, and new ideas are coming to life each day.

The HavaStartup Business Plan Competition was created to help these entrepreneurs showcase their idea, connect with mentorship and the funds needed to boost their startup and grow the local economy.

This annual program is organized by ASU at Lake Havasu City, in collaboration with the Lake Havasu Chamber Foundation for Education and Leadership and Better Business Bureau Serving the Pacific Southwest.

The fourth annual HavaStartup competition is inviting entrepreneurs with new business ideas as well as established startups, that have been operating less than 3 years, that want to create a business plan to grow. With support from expert mentors, applicant businesses will create a business plan that turns their passion into a thriving business.

Photo RSM Team

Oftentimes, entrepreneurs have a great idea but lack the resources needed to make it a viable business. Even when a business gets off the ground, it’s challenging to successfully continue. Through participation in this competition, applicants will be guided to think critically about every aspect of the business model and ways to finetune it by developing a well thought out plan, with guidance from community mentors. Applicants will then meet various industry experts and get access to networking, training and funding opportunities, increasing survival and success. The winner of the HavaStartup 2022-23 Business Plan Competition will receive a cash prize to use on steps to grow, presented by Better Business Bureau.

The competition was conceptualized by Dr. Leepsa Nabaghan Madhabika, Business Faculty of ASU at Lake Havasu City to help people with an innovative idea and wanted to turn it into a viable business through education, mentoring and prize money. It’s not just about winning the prize money but taking the opportunity to learn from mentors to see if your idea is actually something that can survive, sustain and become successful.

Participating this year has been simplified to just two easy steps submitted in either video or written format. Step one is to complete the 5-minute online application describing your business or idea and how it improves the local economy, and what you would use the winning prize money on. Step two is completion of a business plan, where templates and guidance will be provided. Both aspects can be submitted in written or video format.

If you’re ready to grow your business idea, visit havasu.asu.edu/havastartup to apply or email at lmadhabi@asu.edu for details.

Key Competition Dates