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

Would-be business owners could get a leg up by means of an once-a-year opposition held this thirty day period.

The third yearly 53 Ideas Pitch Competitiveness is underway and could suggest funds prizes as very well as coaching on pitching, funding, forecasting and typical enterprise.

“There is greater consciousness that individuals are trying to get cash to convey their strategies to daily life, but have problem discovering it,” explained Steve Padgett, director of the Tiny Organization Middle at Cleveland Local community Faculty.

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Scientific studies show that 4 out of 5 entrepreneurs do not accessibility bank financial loans or undertaking cash. In its place, their resources of funding are own community, generational wealth or connections to networks. The 53 Ideas Pitch Levels of competition exists to enable lessen this inequality in entrepreneurship.

“We know companies start out with great ideas and if we can present resources to nurture and develop those people ideas, our community will thrive,” Padgett stated.

The contest is supported by Cleveland Community School and Fifth Third Financial institution with free methods presented by Small Organization Centers located at community faculties in the course of the region, like Central Piedmont, Cleveland, Gaston, Mitchell, Rowan-Cabarrus, South Piedmont and Stanly.

This is how it functions:

To enter, folks have 53 seconds to share their notion in the sort of a video clip submitted at 53thoughts.com.

Spherical one is primarily based on the idea. Contestants do not have to be pitch pros. They just have to have to share who they are, their plan, the trouble it solves, how it is new or exceptional to an existing product or services and how they can make it transpire.

Judges will decide on the best 53 concepts, and these contestants will move on in the level of competition to acquire schooling to enable them prepare a three-minute pitch for the next round of the levels of competition.

Judges will then slender the industry to the major 10, and people picked will receive $250 prior to transferring ahead to compete in the Pitch Day finale. The major location will acquire $10,000, second place $5,000 and third put $2,500 to support switch their notion into a feasible company.

Tale continues

“We are fully commited to supporting entrepreneurship across Charlotte and through North Carolina,” mentioned Joel Dancy, with Fifth 3rd Bank. “We are incredibly fired up to once more be supporting the 53 Ideas Pitch Competition for the reason that it not only assists in the small phrase with obtain to money for the winners but also in the prolonged time period by means of economic schooling for all individuals.”

Previous year’s competitiveness received far more than 130 entries.

Nicole Hawthorne was announced the winner for Jayla’s Heirlooms, a organization furnishing handcrafted assorted dolls. Nicole went on to husband or wife with Amazon, where by her culturally numerous dolls are offered for kids and households globally.

To discover far more and enter this year’s pitch opposition by the May perhaps 31 deadline, go to 53concepts.com.

This short article at first appeared on The Shelby Star: 3rd yearly 53 Strategies Pitch Competition provides company alternatives