Business owners and entrepreneurs have until March 6 to apply to the Granite State Growth Competition, a state-wide business pitch competition with a grand prize of $25,000. Launched by the Regional Economic Development Center (REDC), the competition supports NH’s entrepreneurial ecosystem and increases the visibility of young businesses.
Businesses must be for-profit, registered in NH, have been in existence for fewer than three years (as of March 6, 2019) and generated less than $300,000 in revenue in 2018. Current REDC clients are eligible to participate, as the organization will not participate in judging the competition.
“There’s still time to ‘throw your hat into the ring’ for the Granite State Growth Competition,” says Laurel Adams, President of REDC. “Our short online application makes it easy for any qualifying business to compete. We’ve already seen diverse local businesses apply for our inaugural Granite State Growth Competition, and we can’t wait to see who else joins in."
The competition will feature three rounds. Ten businesses will be notified on March 12 if they have been selected for the first round, which will see applicants pitching their businesses on March 26 to a panel of judges, including Mary Ann Kristiansen from the Hannah Grimes Center and Wildofo Arvelo, Director, NH Division of Economic Development. Seven businesses will then advance to the semi-final round on April 2, when the applicants will pitch to the judges and an audience during a free event at REDC headquarters in Raymond.
The judges will pick five businesses for the final round. On April 10, each finalist will participate in a 20-minute question and answer session with the judges, who will share insights and guidance, helping contestants refine their pitches. After incorporating feedback from the judges, the competition will culminate with the five finalists presenting their pitches live at REDC’s 25th anniversary celebration on May 9 at Birchwood Vineyards in Derry. The winning business will be announced at the anniversary event.
REDC will also host a “How to Pitch” workshop on March 15 at its office in Raymond. The workshop is required for competition contestants and open to community members. Small Business Development Center experts and other pitch program organizers will detail the elements of a good pitch. Participants will also learn from a local entrepreneur who has successfully pitched a business.
For more information about the Granite State Growth Competition, or to apply for the competition, visit www.redc.com/granitestategrowthcompetition.