Thursday, December 12, 2003
Brooklyn Public Library's (BPL) Business Library's PowerUP! Your Business Starts Here Competition recently awarded entrepreneurs Farid Ali and George Constantinou as the top prize winners. Ali and Constantinou plan to open
Bogota Latin Bistro, a 30-seat restaurant in Park Slope. The partners received an award of $10,000 and an in-kind package of services worth $9,000.
In its first year, BPL's Business Library's PowerUP! Business Plan Competition encouraged Brooklyn residents to craft an implementation approach for a new Brooklyn-based business. Entrants were offered resources and workshops through BPL's Business Library. The competition, sponsored by BPL's Business Library Success Council, offered all entrants the support of workshops and library resources to help develop their business ideas, with monetary awards for the best plans.
The runner-up winners of the PowerUP! Competition were Tremaine Wright, who plans to open a community-based coffee shop in the Bedford-Stuyvesant section of Brooklyn, and Kristen Davis and David Bivens, who developed a business plan for the
Yogasana Center for Yoga in Park Slope. The runner-up winners received a cash prize of $3,000 and an in-kind package of services worth over $6,000.
The Honorable Mentions for the competition included Roger Fortune, Susi Yu and Richard Yu for a retail wine store in the Fort Greene section of Brooklyn, Kristen Marino for Slope Sports in Park Slope and Deborah Stewart and Shakellin Graham for a magazine featuring West Indian culture, lifestyles, music and dining.
"The competition tapped into Brooklyn's entrepreneurial spirit by inspiring a wealth of new business ideas," said Ginnie Cooper, BPL's executive director. "We were impressed with all the creative and well thought out business plans that were submitted. The creators of Bogota Bistro were selected because their idea had all the elements of a winning plan. We hope their participation in the library's competition contributes to their success, and maybe even their dreams."
"The PowerUP! Business Plan Competition offered the motivation and tools to create a business plan for our restaurant idea," said Ali. "It brought us to people, places and valuable resources we would not have acquired on our own. Some amazing doors have opened up as a result of walking into this library. The Brooklyn Public Library has been an incredible place to come to get information."
"The idea for the PowerUP! Competition was developed following September 11 and the subsequent job losses," said Kathleen Parisi, National Business Development Officer in Community Development for Citibank, the main sponsor of the competition. "The goal was to take advantage of the entrepreneurial trend and fill the job gap by encouraging individuals to become self-employed. I feel so strongly that every single person who participated in this event was an incredible winner. The key to the success of everyone who participated is to never give up and continue using the resources of the library."
To qualify for the competition, individual applicants or team leaders had to be Brooklyn residents planning to open a business in Brooklyn. To help the applicants develop their business plans, the Brooklyn Public Library offered a series of workshops on marketing, creating a business plan, and budgetary principles. Applicants also received assistance through SCORE volunteers and the resources of the Business Library. The business plans were judged on their content, including the thoroughness and quality of the analysis, use of business information and clear communication.
The PowerUP! Business Plan Competition was sponsored by Brooklyn Public Library's Success Council and funded by Citibank, Brooklyn Economic Development Corporation, Community Capital Bank, Donovan Communications, Harvest Hanson and Pina M. Inc.
Brooklyn Public Library is an independent New York City library system serving the borough of Brooklyn. It is the fifth largest in the United States. Its Central Library, Business Library and 58 branch libraries offer free information, programs and computer access to people of all ages. Reach the library's resources of over 60 reference databases, catalog information and news 24 hours a day at
www.BrooklynPublicLibrary.org.