July 7, 2022


The business spirit

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

53 Ideas

53 Strategies

Would-be business owners could get a leg up via an once-a-year competitiveness held this month.

The 3rd once-a-year 53 Ideas Pitch Competitors is underway and could signify money prizes as very well as coaching on pitching, financing, forecasting and common small business.

“There is higher recognition that individuals are searching for cash to bring their tips to lifetime, but have difficulty locating it,” stated Steve Padgett, director of the Modest Enterprise Centre at Cleveland Local community College or university.

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Experiments demonstrate that four out of 5 business owners do not access financial institution loans or enterprise funds. In its place, their resources of funding are personal community, generational wealth or connections to networks. The 53 Concepts Pitch Level of competition exists to enable lessen this inequality in entrepreneurship.

“We know businesses get started with good thoughts and if we can supply methods to nurture and expand people tips, our group will thrive,” Padgett said.

The contest is supported by Cleveland Local community Higher education and Fifth Third Bank with free of charge assets supplied by Small Organization Centers located at community schools all over the area, such as Central Piedmont, Cleveland, Gaston, Mitchell, Rowan-Cabarrus, South Piedmont and Stanly.

Here is how it performs:

To enter, persons have 53 seconds to share their concept in the variety of a online video submitted at 53strategies.com.

Spherical 1 is based mostly on the idea. Contestants do not have to be pitch pros. They just have to have to share who they are, their strategy, the trouble it solves, how it is new or superior to an existing merchandise or company and how they can make it occur.

Judges will select the prime 53 ideas, and those people contestants will shift on in the level of competition to get schooling to aid them put together a a few-minute pitch for the next round of the competitiveness.

Judges will then slender the area to the top rated 10, and people selected will obtain $250 prior to shifting ahead to compete in the Pitch Day finale. The top spot will receive $10,000, next position $5,000 and 3rd position $2,500 to assist switch their plan into a practical company.

“We are fully commited to supporting entrepreneurship across Charlotte and in the course of North Carolina,” stated Joel Dancy, with Fifth 3rd Financial institution. “We are quite excited to once again be supporting the 53 Suggestions Pitch Competitiveness for the reason that it not only will help in the brief term with obtain to funds for the winners but also in the long time period through money education for all participants.”

Previous year’s competitiveness gained a lot more than 130 entries.

Nicole Hawthorne was declared the winner for Jayla’s Heirlooms, a enterprise furnishing handcrafted numerous dolls. Nicole went on to lover with Amazon, where her culturally numerous dolls are obtainable for kids and families globally.

To learn additional and enter this year’s pitch competitiveness by the May well 31 deadline, go to 53strategies.com.

This article at first appeared on The Shelby Star: 3rd yearly 53 Tips Pitch Opposition supplies business alternatives

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