Just like FOX-TV’s “American Idol” stars who strut their talent, young entrepreneurs in the Delaware Valley now have a venue to showcase their business skills. The first Young Entrepreneur Award of the Delaware Valley will recognize the area’s most successful young entrepreneur and also the most innovative one.
“It takes a lot of guts, hard work and commitment to launch a business when you’re young, and in this business climate, you need even more nerve,” says Anthony Mongeluzo, the award’s creator and president of Medford, N.J.-based Pro Computer Service. “We’ve created the award to encourage existing young entrepreneurs and to acknowledge that they’re part of a special elite in the business world.”

Eligibility requirements include:
•  Founder(s) must be 35 or younger by Dec. 31, 2009 and have started their business by 30.
•  Founder(s) must own 50 percent or more of the business.
•  Annual Revenue must exceed $100,000 in gross sales for fiscal year ending 2009.
•  Primary business headquarters must be in the Delaware Valley.

Scoring for the award will include a weighted system that considers the percentage of revenue increase during a three-year period, number of jobs created during the same period and the dollar sales amount more than $100,000.
Entrepreneurs not qualifying for the Young Entrepreneur Award still can apply for the Innovative Entrepreneur Award, by a committee consisting of members of the Entrepreneur Forum, event sponsors and the presenter.
The Innovative award will go to a person who has created a prototype of a business product or service but has not raised the capital to implement the concept yet.

There is no fee to apply for either award. Visit YEDV.org for an application; deadline is June 30th 2010.

“Entrepreneurs bring vitality and excitement to the business world, yet their contributions often go unnoticed,” says Mongeluzo, the host of the event, and the recipient of numerous entrepreneurial awards, including recognition as the 88th fastest-growing IT company in the United States. “Our goal is to ensure that the best entrepreneurs receive the recognition they deserve.”
Sponsors of the event include: Archer & Greiner PC, Burlington County Chamber of Commerce, Leib Commercial Collections, KEH Insurance, Perlow Productions, Pilotlight Studios, Pinnacle Building Services, Pro Computer Service, Rowan University, SNJ Business People, TD Bank, WithimSmith+Brown PC.

An awards ceremony announcing the winners will be held Thursday, Sept. 23, at the Merion, Cinnaminson, N.J. Attendees will have the opportunity to meet with other young entrepreneurs from the Delaware Valley while Fox 29’s Michele Buckman will present the Innovative Entrepreneur Award, and Flyers Hall of Famer Brian Propp serves as keynote speaker.

The Entrepreneurs Forum of Southern New Jersey Inc. (EFSNJ), a not-for-profit organization, dedicates itself to fostering the development of entrepreneurial ideas and ventures and improving the success rate of emerging, growth-oriented companies.
The EFSNJ’s focus is to serve the needs of entrepreneurs, businesses, and educational institutions in the South Jersey region, primarily the counties of Burlington, Ocean, Camden, Gloucester, Atlantic, Salem, Cumberland and Cape May.