Got an idea for a business? This competition could kick it in gear

53 Ideas

53 Strategies

Would-be business people could get a leg up by way of an yearly levels of competition held this month.

The third yearly 53 Suggestions Pitch Levels of competition is underway and could imply money prizes as perfectly as coaching on pitching, funding, forecasting and general enterprise.

“There is greater consciousness that persons are trying to find money to deliver their thoughts to life, but have difficulty acquiring it,” explained Steve Padgett, director of the Tiny Business enterprise Center at Cleveland Local community University.

Additional: Cleveland Community College’s healthcare helping system appears to improve

Research exhibit that 4 out of five entrepreneurs do not accessibility lender financial loans or enterprise funds. As an alternative, their sources of funding are personal community, generational wealth or connections to networks. The 53 Ideas Pitch Level of competition exists to assist lessen this inequality in entrepreneurship.

“We know organizations get started with great tips and if we can present sources to nurture and expand individuals concepts, our neighborhood will thrive,” Padgett mentioned.

The contest is supported by Cleveland Neighborhood Faculty and Fifth 3rd Lender with cost-free resources offered by Smaller Business enterprise Centers located at group schools through the region, which include Central Piedmont, Cleveland, Gaston, Mitchell, Rowan-Cabarrus, South Piedmont and Stanly.

Here’s how it functions:

To enter, folks have 53 seconds to share their plan in the variety of a video clip submitted at 53suggestions.com.

Spherical a person is based on the idea. Contestants do not have to be pitch pros. They just want to share who they are, their concept, the dilemma it solves, how it is new or remarkable to an existing products or services and how they can make it take place.

Judges will find the prime 53 ideas, and all those contestants will go on in the competition to obtain teaching to help them get ready a 3-moment pitch for the next spherical of the levels of competition.

Judges will then narrow the area to the top 10, and people chosen will obtain $250 right before shifting forward to compete in the Pitch Working day finale. The top location will acquire $10,000, 2nd position $5,000 and 3rd put $2,500 to enable change their notion into a feasible enterprise.

“We are fully commited to supporting entrepreneurship across Charlotte and all over North Carolina,” explained Joel Dancy, with Fifth 3rd Bank. “We are incredibly psyched to yet again be supporting the 53 Strategies Pitch Levels of competition since it not only allows in the shorter expression with accessibility to money for the winners but also in the very long term by way of money education for all members.”

Final year’s competitiveness gained much more than 130 entries.

Nicole Hawthorne was announced the winner for Jayla’s Heirlooms, a small business offering handcrafted numerous dolls. Nicole went on to spouse with Amazon, wherever her culturally assorted dolls are readily available for small children and households throughout the world.

To find out additional and enter this year’s pitch competition by the May possibly 31 deadline, go to 53thoughts.com.

This report at first appeared on The Shelby Star: 3rd once-a-year 53 Suggestions Pitch Competitors provides small business possibilities

diana

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