SALISBURY – The Rowan-Cabarrus Group College or university Smaller Business Centre will companion with Small Business Facilities in the Southwest location on the 2021 “53 Ideas Pitch Competition” supported by Fifth 3rd Financial institution.
The pitch competitors addresses income inequality and equity through entrepreneurship by providing anyone with an notion obtain to the cash, education sources, and social connections wanted to get rid of barriers, allowing the opportunity to acquire an notion and change it into a practical small business. The prime prize winner of the competition will acquire $10,000 in seed money for a get started-up organization.
“Last calendar year we opened the spigot and tips arrived pouring in across the 10-county region. The community responded and the reaction to the 53 Concepts pitch competitors was unique. Contestants did not mirror the historic demographics of entrepreneurs,” explained Renee Hode, regional director for the NC Compact Company Centre Network.
According to information from very last year’s competitiveness, more than fifty percent of the participants ended up girls, more than 50 percent ended up minorities and, by earnings level, the bulk had been earning a lot less than $50,000 a 12 months.
Reports display that four out of 5 business owners do not obtain lender loans or enterprise money. Rather, their sources of funding are personal network, generational wealth or connections to networks. The 53 Tips Pitch Competitors exists to support lessen this inequality in entrepreneurship.
“Businesses get started with good concepts, and we want to be component of initiatives to supply methods, nurture and increase people suggestions so that our local community will prosper,” mentioned Megan Smit, RCCC Modest Business enterprise Centre director.
The “53 Suggestions Pitch Competition” is an open up contact for enterprise tips from residents across the area. Persons will have 53 seconds to pitch their idea in the type of a video submission that could be uploaded to 53strategies.com. For open, inclusive obtain, if another person has an idea but does not have the engineering to post an entry, they can check out their community little company heart to obtain a computer system to enter the competition.
Judges will overview the submissions and choose the top 53 pitches. Major entrants will get a $50 award, as perfectly as the chance to progress in the level of competition. Training and coaching on pitching, funding, forecasting, and normal organization will be out there to every single participant, even if they do not make the leading 53. These absolutely free sources will be offered by Little Small business Facilities located at community colleges all through the southwest region, which include Central Piedmont, Cleveland, Gaston, Mitchell, Rowan-Cabarrus, South Piedmont, and Stanly.
Right after the teaching interval, the major 53 entrants will take part in a closed virtual pitch function, the place the judges will narrow the field down to 10. The major 10 will acquire $250 every single and go on to contend on a virtual phase for the prime awards: to start with place receives $10,000, second position earns $5,000, and third position gets $2,500 in seed funding to aid convert their tips into a feasible company.
“Many people today have fantastic thoughts for new ventures but have trouble securing the capital to provide their tips to existence. This competitors is an partaking and equitable way to make those people thoughts out and to give some of these aspiring business owners a probability to get commenced,” RCCC President Carol Spalding stated.
To find out more about the “53 Ideas Pitch Competition” or to add a movie submission by the May 31 deadline, visit 53suggestions.com. For more facts about Rowan-Cabarrus Community College or university, please visit www.rccc.edu or simply call 704-216-RCCC (7222).