The application deadline is fast approaching for the annual Startup Challenge.

The Challenge provides an opportunity for prospective entrepreneurs, start-ups and emerging companies to showcase their ideas and business concepts. The Challenge connects regional entrepreneurs to each other, to funders, consultants, support programs and venture capitalists.

The Challenge begins with a one-page application and a five-minute first-round pitch presented to judges on March 27. Applicants are then selected to expand their ideas into a full 12-page business plan, which they present to an investor panel at the final event on May 1 at Cal State Monterey Bay.

Download an application at www.thestartupchallenge.org.

The Challenge includes three divisions: Venture, for businesses intended to grow into large enterprises; Main Street, for small businesses; and Student, for high school through graduate students.

WaterCity, a startup that aims to lower residential and commercial water bills, was last year’s winner in the venture category and is working on its first round of funding. Its founders, Jeff Langholz and Maeve Du Toit, hope to launch their company this year.

Katie's Coldpress, a mobile organic food truck planned by Katie Raquel of Seaside, won the Main Street category and launched last fall. The student winner was Construction Connection, a proposal to start a website and use iPhone software to connect contractors locally with workers, and workers with jobs.