Small businesses in Central New York can hit the jackpot.

The Central Upstate Regional Alliance announced on Wednesday that they are holding their second annual Creative Core $100,000 Emerging Business Competition in an effort to catalyze emerging small businesses in Central New York.

The competition, sponsored by M&T Bank and New York Business Development Corp., among others, is open to businesses in the 12-county Central New York region with less than $3.5 million in annual revenue.

The winner will receive the $100,000 grand prize. A separate $5,000 prize for the best individual business idea, is open to any high school or college student in the region.

“The first year of this competition has been enormously successful for many of the competition's entrants and for the region as a whole,” said Allen J. Naples, president of M&T Bank's Syracuse Division, in a news release.

“We're hoped to tap into the entrepreneurial spirit that we know exists in the region and bring it to the surface for everyone to see.”

The competition provides exposure to the leading entrepreneurs in the region and can also lead to new investments.

Applications are due by the close of business on Friday, Jan. 18, 2008.

The winners of the $100,000 and the $5,000 prizes will be chosen on Tuesday, April 22, 2008.

For more information, visit www.essentialconnections.org/100k.