SALISBURY – The Rowan-Cabarrus Group School Smaller Company Middle will partner with Smaller Business Facilities in the Southwest area on the 2021 “53 Thoughts Pitch Competition” supported by Fifth Third Lender.
The pitch level of competition addresses profits inequality and equity by means of entrepreneurship by offering anyone with an concept entry to the capital, training means, and social connections wanted to get rid of obstacles, enabling the prospect to just take an idea and turn it into a feasible business. The leading prize winner of the competition will receive $10,000 in seed cash for a get started-up small business.
“Last calendar year we opened the spigot and strategies came pouring in across the 10-county region. The group responded and the reaction to the 53 Thoughts pitch opposition was diverse. Contestants did not mirror the historic demographics of business people,” said Renee Hode, regional director for the NC Tiny Business Middle Community.
According to information from previous year’s opposition, additional than 50 percent of the contributors were being females, additional than half were being minorities and, by money level, the majority ended up generating much less than $50,000 a year.
Research exhibit that four out of 5 business people do not entry bank financial loans or venture capital. As an alternative, their sources of funding are individual community, generational prosperity or connections to networks. The 53 Ideas Pitch Competitors exists to help reduce this inequality in entrepreneurship.
“Businesses commence with wonderful suggestions, and we want to be component of attempts to present means, nurture and expand individuals tips so that our community will prosper,” claimed Megan Smit, RCCC Smaller Organization Middle director.
The “53 Strategies Pitch Competition” is an open connect with for company tips from people across the location. Folks will have 53 seconds to pitch their thought in the type of a video submission that could be uploaded to 53concepts.com. For open, inclusive obtain, if a person has an idea but does not have the technology to post an entry, they can visit their area tiny business center to access a laptop or computer to enter the opposition.
Judges will evaluate the submissions and choose the best 53 pitches. Prime entrants will acquire a $50 award, as perfectly as the possibility to progress in the level of competition. Training and coaching on pitching, funding, forecasting, and typical business enterprise will be available to just about every participant, even if they do not make the leading 53. These totally free methods will be presented by Small Business Facilities positioned at neighborhood colleges all through the southwest location, such as Central Piedmont, Cleveland, Gaston, Mitchell, Rowan-Cabarrus, South Piedmont, and Stanly.
Soon after the teaching period of time, the prime 53 entrants will take part in a closed virtual pitch party, wherever the judges will slender the industry down to 10. The leading 10 will receive $250 each individual and go on to compete on a virtual phase for the top awards: very first position receives $10,000, 2nd position earns $5,000, and 3rd place receives $2,500 in seed funding to assistance change their strategies into a feasible small business.
“Many individuals have wonderful suggestions for new ventures but have trouble securing the funds to deliver their ideas to daily life. This levels of competition is an engaging and equitable way to establish these suggestions out and to give some of these aspiring business people a likelihood to get started,” RCCC President Carol Spalding claimed.
To master more about the “53 Ideas Pitch Competition” or to upload a video submission by the May 31 deadline, visit 53strategies.com. For additional details about Rowan-Cabarrus Group College, make sure you visit www.rccc.edu or simply call 704-216-RCCC (7222).