The Enterprise Center at Salem State College has launched the sixth annual North of Boston Business Plan Competition designed to find and support early stage, start-up and existing growth businesses on the North Shore and Merrimack Valley.

The 2010 North of Boston Business Plan Competition will award a $5,000 first prize, $3,000 second prize and $2,000 third prize to outstanding plans for companies less than three years old who are planning to add at least five full-time employees by the end of two years.

Applications are due no later than 5 pm on Thursday, Jan. 28, and complete information about the competition may be found at www.enterprisectr.org/bpc.

"Entrepreneurs are the greatest economic engine of our local economy and workforce," said Christine Sullivan, executive director of the Enterprise Center. "In these challenging economic times it is even more crucial to find and support growth companies."

This year’s judges include early stage investors, venture capitalists, bankers and other experts who will examine each plan and select winner.