Not high-growth or a tech startup? AltCap Your Biz $10K prize could be the boost you need
September 21, 2018 | Austin Barnes
A $10,000 prize can mean a world of difference for the right entrepreneurial dream, said Davin Gordon.
“There’s not a ton of opportunities for small businesses to not only pitch their business and go through that process, but actually have an opportunity to win some money,” he said.
Entering its fourth year on the startup scene, the AltCap Your Biz competition offers startups the chance to pitch their business and win money with no strings attached, Gordon, AltCap’s business development officer, explained.
“I think it’s so important because it gives [opportunity to] those small to mid-size companies that don’t really stand a chance [in funding competitions against more advanced startups],” he said.
Interested in applying? Submit an online application and two-minute pitch video that answers six business questions by 5 p.m. Oct. 3, Gordon said with urgency. AltCap –– a community development financial institution focused on aiding underserved populations –– enforces a strict deadline for applications.
“That’s the only way you can kind of weed out those that are serious about this,” Gordon said of the deadline.
Applicants accepted into the competition’s top 10 will submit detailed business proposals to AltCap judges. From there, finalists will be chosen to make an in-person pitch.
The winning entrepreneur(s) will be announced Nov. 14, as part of Global Entrepreneurship Week programming.
Although certain restrictions apply, startups don’t have to be high-growth or tech ventures to throw their hat into the ring. Small businesses of all kinds are encouraged to apply, Gordon said.
“This gives some of these small folks an opportunity to directly apply [the prize money] to their business right away,” he said.
Past winners of the AltCap Your Biz competition include; BareFood’n Happy, Maker Village, and Hostel KC.
A second-place $5,000 prize and third-place $2,500 also are awarded.
“I’ve kept this very mission-driven and we’re very community-oriented. That’s a huge component for us … How is this going to contribute to our local community and to the ecosystem here in Kansas City?” Gordon said.
The winner of the 2018 AltCap Your Biz competition will also receive help finding office/retail space and consulting services to help develop their brand.
Click here to apply for the AltCap Your Biz competition.
Featured Business
2018 Startups to Watch
stats here
Related Posts on Startland News
Is government helping startups enough? Founders feel isolated, Kauffman survey finds
Early stage entrepreneurs struggle with the technical steps to getting started, a new Kauffman survey found, and founders don’t believe the government is helping them. The prevailing sentiment that entrepreneurs view themselves as isolated from assistance is understandable, said Melissa Roberts, vice president of strategy and economic development at the Enterprise Center in Johnson County.…
Kauffman survey: Women more critical of their own early-stage entrepreneurial efforts
Women entrepreneurs are more likely than their male counterparts to grade their performances harshly during the first year of business, though that tendency typically fades over time, according to a new survey by the Ewing Marion Kauffman Foundation. It often is about approaching the venture a realistic viewpoint, said Jeff Shackelford, executive director of Digital…
Video: ShotTracker fan app courts NAIA tourney crowds with AR experience
A new ShotTracker fan app — expected to launch today — will combine real-time analytics with augmented reality for a first-of-its-kind fan engagement opportunity at next week’s Division 1 NAIA basketball tournament, said co-founder Davyeon Ross. “We want to make the experience as great as possible for the end user,” Ross said, noting his company’s…
TechAccel, UC Davis lab developing wheat seed to combat climate change
A Kansas City-based tech and venture development firm hopes to engineer wheat seeds that produce higher yield by withstanding warmer temperatures. “We’re taking a concept that is pretty important for wheat worldwide,” said Brad Fabbri, Chief Science Officer of TechAccel. Increasing temperatures make growing wheat more difficult across the globe, studies show. Reports indicate climate…