Got a business idea, Columbus? Bring your best pitch to ‘Shark Tank’ style contest
Calling all local entrepreneurs.
Got a great idea?
Well, you can start submitting those for the third annual BizPitch Columbus competition that helps future business people how to pitch and sell their next big ideas.
StartUP Columbus and Columbus State University’s D. Abbott Turner College of Business and Technology collaborated to host the competition that will take place in November.
“We started this partnership because we have a wonderful group of entrepreneurs in this area,” said Deborah Kidder, dean of the Turner College of Business. “But we want to develop a really strong ecosystem of entrepreneurs in small businesses.”
BizPitch is styled after the popular television show Shark Tank with competitors pitching their ideas to judges for the chance to win funding for their businesses, according to a news release.
The competition created two categories this year for technology based businesses and traditional entrepreneurs, said Ben MacMinn, executive director of StartUP Columbus, and the prize money awarded increased from last year’s $25,000 to $40,000.
Two grand prizes will be awarded totaling $15,000 for each category, MacMinn said, and the two runners-up receive $5,000.
Prospective competitors can submit applications through the StartUP Columbus website by July 18.
Entrepreneurs who have been operating for less than three years may compete, said Ben MacMinn, executive director of StartUP Columbus, in the release.
People do not need much groundwork to be completed on their business when they apply, MacMinn told the Ledger-Enquirer. The first round of the application is simple, he said, and applicants only need to answer some questions and focus on the criteria for selection.
“Even if you have just an idea, you’re able to apply for this,” MacMinn said.
BizPitch has four rounds of selection, he said, and StartUP Columbus will work with contestants each round to help them refine their pitches. In the third round of the application process, entrepreneurs will attend workshops to learn the soft skills they need to present a successful pitch, MacMinn said.
“You need those presentation skills,” Kidder said. “Basically, you’re on stage. You’re making a pitch. That means you have to have some really good chops in terms of saying, ‘Hey, this is why I’m so great.’”
Successful entrepreneurs demonstrate their ideas are feasible, she said, and that they understand the logistics and how much work will have to be put into the business. BizPitch encourages competitors to brand themselves, Kidder said, and finalists will benefit from the training they will receive by participating in the competition.
Rashmi Hudson, who developed the ALLTIMATE 3-in-1 Carry-On Luggage System that promises wrinkle-free packing, beat 40 other applicants in the 2022 BizPitch contest. Hudson became one of 54 entrepreneurs selected to present their products to golf industry deal makers at the 2023 PGA Show in Orlando, Florida.
“Watching entrepreneurs develop is one of the most rewarding things,” MacMinn said. “It’s fun to see…entrepreneurs coming in here with a great idea, but not really a business model to develop that and grow their business.”
This story was originally published June 29, 2023 at 5:00 AM.
