John Pappajohn has announced the launch of the 2011 John Pappajohn Iowa Business Plan Competition. This is the sixth annual business plan competition for Iowa sponsored by the venture capitalist, who, since 2006, has awarded more than $250,000 in prizes to start-ups across the state. This year, a total of $50,000 will be awarded to the top three submitted business plans: $25,000 for first prize, $15,000 for second and $10,000 for third. The competition is designed to stimulate business development and provide support for outstanding business plans. The John Pappajohn Iowa Business Plan Competition is open to new and start-up businesses (in business for less than four years). The first round of the competition will take place between March 1 and April 30. During this time, businesses are invited to submit business information via Angelsoft.net. A link to Angelsoft is available at www.iowabusinessplancompetition.com. In May, selected companies will be contacted and invited to submit full business plans through Angelsoft. Seven to 10 of these companies will be chosen to present to judges in September. After presentations are completed, three finalists will be notified. Each finalist will prepare a 15-minute presentation to be given at the Iowa Venture Capital and Entrepreneurs Conference in Des Moines on Oct. 5. Winners will be announced following the presentations. For more information, go to www.iowabusinessplancompetition.com.