The competition in Fort Worth is heating up as the top 20 entrepreneurs have been selected for the city's esteemed Business Plan Competition, slated to undergo weeks of intensive workshops and mentorship to sharpen their business strategies. These contenders are set to benefit from personalized business development sessions designed to pave their path toward sustainable success, according to the City of Fort Worth.

This annual event, backed by Frost Bank, isn't just about winning the cash prizes, which total a hefty $20,000 split among the top three finishers. Running a business needs more than a one-time cash infusion, and the city's Economic Development Director Robert Sturns explained in a statement obtained by Fort Worth Texas Gov, "The Fort Worth Business Plan Competition is honestly one of my favorite events that we do as a department, and that enthusiasm is 100% shared by our sponsors at Frost Bank", as per the City of Fort Worth.

Following the program, participants will craft comprehensive business plans, judged by a panel to determine the top 8 finalists. These select few will then present to judges at a finale event on May 9 at the Modern Art Museum of Fort Worth for a shot at the prizes. The cash rewards are notable: $10,000 for first place, $6,000 for the runner-up, and $4,000 for third.

The industry-spanning list of this year's top 20 showcases the diverse talent within Fort Worth's small-business community—and it's not hard to see why local leaders like Sturns are excited. "It's really amazing to see so many of our local ecosystem partners come together to help guide and coach these small businesses – many of whom know the basics of their business and have the drive to succeed but are still getting their feet under them when it comes to scaling up and figuring out next steps," he said, per the City of Fort Worth.

Some of the highlighted businesses this year include Blind Eyed, led by a legally blind artist; Bre’s Sweet Treats LLC, a custom cake bakery; and the innovative Shaman Systems LLC which creates electronic components for electric vehicles. With 17 out of the top 20 businesses owned by minorities, women, or disadvantaged groups, the competition reaffirms Fort Worth's commitment to fostering an inclusive business environment.

With a rich dose of coaching from local business leaders and organizations such as Accelerate Fort Worth and SCORE Fort Worth, these entrepreneurs are eagerly refining their pitches. More information about the event and how to attend the finale at the Modern Art Museum of Fort Worth will be released soon, as the city anticipates crowning its next top entrepreneur.