Looking for free money to grow your small business? Then check out the new pitch and business plan competition being hosted by AltCap.
AltCap, which used to be known as KCMO CDE, will award cash prizes worth $500 to $5,000 to the top three finalists for its contest. The winners will receive scholarships to attend AltCap’s 16-week Workshop In Business Opportunities, which helps participants increase their companies’ profitability. Winners also will be given free assistance with business coaching, marketing and finding office or retail space.
To enter, local entrepreneurs must create a one- to two-minute pitch video by 5 p.m. Sept. 30. Up to 10 finalists will be invited to submit a two-page business proposal and provide financial information about the business. Winners will be announced on Nov. 11.
Applicants can either be aspiring or established business owners, but aspiring entrepreneurs must be in position to have their business up and running within a year of the contest. Established business owners are eligible if their annual revenue is $20,000 or less. Nonprofits cannot apply. Applicants must have an address in Kansas City, Mo.
“Economic empowerment through entrepreneurship is a key part of our effort to help build and grow prosperous communities,” said Ruben Alonso, AltCap’s president. “We’re excited to be the spark that not only launches new businesses, but also supports our community’s growth and economic development.”
