Looking to grow your own local entrepreneurs? See if you can take some inspiration from these entrepreneur contests.
First, Lewiston-Auburn, Maine, with Launch L-A.
They are targeting young entrepreneurs with a prior connection to their county, but currently living elsewhere.
Does your idea have wings? If you’re a young entrepreneur just itching to launch your business idea, and you have roots in Lewiston-Auburn, Maine, we want to hear from you! That idea that’s been percolating for weeks, months, or years could be worth more than $100,000! There are a few catches, of course: you have to be willing to locate that business in Lewiston-Auburn, Maine’s second largest community. This community has come a long way since you knew it five or ten years ago, and we want the world to know we’re throwing the doors wide open to young, creative entrepreneurs like you.
Besides the cash, winners agree to participate in a mentoring program. (Surely you have some local experienced business people who would make excellent mentors?)
And about that cash, don't feel like your town or county has to offer a huge cash prize. Think about smaller amounts, in-kind services, and even free working space.
Second, CrowdPitch, a series put on by Funding Universe.
Think ´American Idol´ or ´shark tank´ — selected entrepreneurs will have 4 minutes to pitch their company to both a panel of experts & a live audience, followed immediately by a 3-minute Q&A session with the audience. Finally, we unleash the panel of experts to offer up constructive feedback.
But it's too big city. Let's make it work for a rural region. Longer pitch times. Less emphasis on the "pitch for investment." More emphasis on a solid business.
The prizes are pretty easy to adapt to small towns:
The winner gets $5,800 of services from our sponsors:NOWAdvisors: 12 hours financial & accounting services, $1,800 valueFundingUniverse: startup services, $2,500 valueAmazon: web services, $500 valueCLI Law: legal services, $1,000 value
I'm sure you can convince the right local/regional attorneys, accountants, etc., to get involved.
Is your community using a contest to promote local entrepreneurs?
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This is a great idea Becky. This is the kind of thinking we need. Everyone seems to want to turn to government for help when we should be looking in our own communities for business building ideas. Kudos to you for keeping this idea out front.
ReplyDeleteYes! Several organizations partnered here in Alberta to encourage young, rural entrepreneurs to hone their business ideas in competition for cash & prizes! It's been extremely well-received to date and it's win-win for all ... find out more here: http://theperfectpitch.tumblr.com
ReplyDeleteTom, thanks! There is so much we can do.
ReplyDeleteJennifer, thanks for the added example. I'd love to see some really small towns take this idea and work with it.