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JERSEY SHORE, Pa. — Do you have a great idea for a new product, business, or new service line for your existing small business? Now is the time to enter a contest to win up to $50,000 in start-up funding.
The PA Wilds BIG IDEA contest is accepting entries until April 18th.
what is that?
The third annual Big Ideas competition is basically North Central Pennsylvania’s version of “Shark Tank.” People with “innovative” ideas in the maker economy, outdoor and recreation, forest products, manufacturing, or technology industries may apply.
Selected applicants will work with Ben Franklin Technology Partners, the Pennsylvania Technical Assistance Program (PennTAP), and the Small Business Development Center (SBDC) to solidify their ideas and pitch them to a panel of judges.
What do you win?
Winning ideas in the contest will receive up to $50,000 for business plan support and development. The contest is looking for “scalable business models across a variety of industries, from technology to manufacturing, forest products to environmental initiatives and outdoor recreation,” according to the contest website.
Additional People’s Choice awards of $2,500 and $10,000 seed grants are also available as part of the contest. In addition to cash, contest finalists will also receive pitch experience, business training, and networking experience.
“We are a technology-based We want to make the process of building a business easier to understand.”
This event was held to introduce the contest to residents of Cameron, Clinton, Lycoming, Potter, or Tioga counties who are eligible to apply. PA Wilds partnered with the Williamsport/Lycoming Chamber of Commerce to host his PM Exchange at the brewery for information sharing and networking.
What are the eligibility requirements?
In addition to residing in one of the counties listed above, eligible applicants must not have received funding from Ben Franklin or any prize money from previous Big Idea contests or TechCelerator . The entrepreneur must plan to commercialize his innovation and his annual sales revenue cannot exceed $1 million.
BIG IDEAS contest information session held in February at Bald Birds Brewing on the Jersey Shore, Pennsylvania.
What do I need to apply?
Of course, you need a winning idea. Applicants will also be asked to identify market opportunities, describe innovations, identify potential customers and/or customer problems, describe value propositions, understand competitive advantages and competitors, highlight team and managers, You will also be asked to explain your efforts in economic development and financing new products. option.
This contest is presented through a partnership between the PA Wilds Center for Entrepreneurship and Ben Franklin Technology Partners.
last year’s winner
In 2023, the three companies will split the $50,000 prize. First place, $25,000, was awarded to Warren’s Kafferlin Strategies/CiviLink Civil Government Software Platform. Second place, $15,000, went to White Cane Coffee Company of Warren for its innovative prepackaged biodegradable coffee system. Third place and her $10,000 award went to her Julie Mader of Smethport with The Caregiver’s Artbox, a subscription art box designed specifically for senior living facilities.
The 2024 contest entry portal will be open until 5:00 pm on Thursday, April 18, 2024.
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