RANDOLPH — Vermont Technical College has launched a business plan competition for small farm and food businesses with prizes of up to $22,250.

The contest is intended to encourage the development of new businesses.

It’s open to residents and students in Washington, Orange and Windsor counties who are involved in food production, processing, distribution, packaging or retailing including restaurants.

The existing or new business must be located in those three counties and be for-profit with a gross revenue that does not exceed $500,000.

Students also must live in or be enrolled in a school in those counties in order to participate.

Applications are due May 21.

Finalists will be announced by June 1. They will have until Oct. 5 to complete their business plans, which they’ll present to judges on Oct. 12.

For application forms and more information, go to www.vtc.edu/businessplans or call Steve Paddock, competition coordinator, at 728-9101.