RCCC little business enterprise heart companions 53 Strategies Pitch Opposition – Salisbury Article

SALISBURY – The Rowan-Cabarrus Community Higher education Smaller Business enterprise Heart will spouse with Tiny Company Facilities in the Southwest area on the 2021 “53 Ideas Pitch Competition” supported by Fifth Third Financial institution.

The pitch opposition addresses profits inequality and equity by entrepreneurship by furnishing everyone with an concept entry to the funds, instruction sources, and social connections needed to take out obstacles, letting the option to choose an notion and transform it into a practical business. The prime prize winner of the level of competition will obtain $10,000 in seed funds for a start-up organization.

“Last yr we opened the spigot and strategies came pouring in across the 10-county area. The neighborhood responded and the reaction to the 53 Concepts pitch competitors was different. Contestants did not mirror the historic demographics of entrepreneurs,” mentioned Renee Hode, regional director for the NC Compact Small business Centre Community.

According to details from final year’s competitiveness, much more than fifty percent of the members ended up females, much more than half were minorities and, by money amount, the bulk ended up earning fewer than $50,000 a calendar year.

Experiments exhibit that four out of 5 business people do not accessibility lender loans or undertaking funds. Rather, their sources of funding are own network, generational prosperity or connections to networks. The 53 Ideas Pitch Competition exists to assistance lessen this inequality in entrepreneurship.

“Businesses start out with great tips, and we want to be element of initiatives to present assets, nurture and mature those suggestions so that our community will prosper,” explained Megan Smit, RCCC Small Enterprise Heart director.

The “53 Suggestions Pitch Competition” is an open contact for organization concepts from residents throughout the area. Persons will have 53 seconds to pitch their idea in the sort of a movie submission that may well be uploaded to 53suggestions.com. For open, inclusive accessibility, if anyone has an idea but does not have the technologies to submit an entry, they can take a look at their local smaller company center to access a pc to enter the competitiveness.

Judges will evaluate the submissions and select the prime 53 pitches. Prime entrants will acquire a $50 award, as nicely as the chance to progress in the competitors. Training and coaching on pitching, funding, forecasting, and common company will be readily available to every single participant, even if they do not make the major 53. These cost-free sources will be supplied by Modest Business enterprise Facilities found at local community faculties during the southwest area, which includes Central Piedmont, Cleveland, Gaston, Mitchell, Rowan-Cabarrus, South Piedmont, and Stanly.

Following the instruction time period, the top 53 entrants will take part in a shut virtual pitch event, where the judges will slender the subject down to 10. The top 10 will receive $250 each and go on to contend on a virtual phase for the top rated awards: initially spot gets $10,000, next area earns $5,000, and third spot receives $2,500 in seed funding to assist turn their ideas into a practical business enterprise.

“Many people today have amazing tips for new ventures but have issue securing the cash to convey their thoughts to existence. This competitiveness is an participating and equitable way to make those tips out and to give some of these aspiring business owners a opportunity to get started,” RCCC President Carol Spalding said.

To learn a lot more about the “53 Concepts Pitch Competition” or to upload a video clip submission by the May 31 deadline, visit 53ideas.com. For a lot more information about Rowan-Cabarrus Local community Faculty, you should visit www.rccc.edu or simply call 704-216-RCCC (7222).