Wisconsin has more than 158,000 women-owned businesses, but less than 3 percent of them have more than $1 million in annual revenues.
The Make Mine a $Million Business program aims to connect eight Wisconsin businesses with resources to help their companies generate $1 million in annual revenues by 2010.
The business plan contest will connect winners with mentoring, money, marketing and technology resources to help them grow their companies.
Make Mine a $Million Business is a national program. Last year's program recognized 39 women across the country.
The Wisconsin program, to be held May 21 in Madison, will recognize eight women-owned startup businesses in the state.
Currently, 41 women entrepreneurs have applied to the Wisconsin program. Only eight of those applicants are from metropolitan Milwaukee.
Officials from the program want more than 100 applicants. Applications are due by April 24 and are available at www.makemineamillion.org.
To qualify for the Make Mine a $Million Business program, applicants must be Wisconsin-based, women-owned businesses, open for at least two years. The business must also be able to prove its scalability to $1 million in annual revenues.
Before the event, applicants will be narrowed to a field of 15, which will compete that day. Finalists will present "elevator pitches" to judges before a live audience.
The competition will be held May 21, at the Madison Concourse Hotel, 1 W. Dayton St., Madison.
The program also will include seminars and programs for female entrepreneurs, experts in finance, insurance and technology, and networking opportunities. For more information, visit www.makemineamillion.org.
Eric Decker is a reporter with Small Business Times, covering banking and finance, mergers and acquisitions, private equity investment, manufacturing and related fields. He can be reached at firstname.lastname@example.org.