AltCap will give away a $5,000 grand prize and other awards as part of its second annual AltCap Your Business Competition.
The organization wants to be a catalyst for new and aspiring entrepreneurs.
“Economic empowerment through entrepreneurship is a key part of our effort to help grow prosperous communities,” AltCap President Ruben Alonso said. “Our goal is to be the spark for aspiring entrepreneurs who might not otherwise be able to make their dream a reality.”
AltCap is taking applications now through Oct. 3 for the contest. That’s the deadline for submitting a one- to two-minute video about the business.
Finalists will then be invited to submit a one- to two-page business plan and a completed financial template.
AltCap Your Business is open to participants who are based in Kansas City, Mo. If they’re aspiring entrepreneurs, they must be planning to launch within six months of the contest. Established business owners can apply if their company’s annual revenue is less than $20,000. Nonprofits can’t apply.
Winners will be announced on Nov. 14.
The top winner will receive $5,000, along with free marketing and business consulting help. The second- and third-place finishers also will receive cash prizes. All three will be given scholarships for AltCap’s 16-week workshop, “How to Build a Growing, Profitable Business.”
