November 30, 2021

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RCCC little business middle associates 53 Suggestions Pitch Levels of competition – Salisbury Article

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SALISBURY – The Rowan-Cabarrus Local community Faculty Little Small business Center will partner with Compact Small business Centers in the Southwest location on the 2021 “53 Thoughts Pitch Competition” supported by Fifth 3rd Financial institution.

The pitch competitors addresses earnings inequality and fairness via entrepreneurship by furnishing everyone with an plan obtain to the money, coaching sources, and social connections essential to take away limitations, enabling the possibility to acquire an notion and turn it into a practical business enterprise. The prime prize winner of the opposition will get $10,000 in seed cash for a commence-up small business.

“Last calendar year we opened the spigot and strategies came pouring in throughout the 10-county location. The group responded and the reaction to the 53 Strategies pitch competition was distinct. Contestants did not mirror the historic demographics of business people,” explained Renee Hode, regional director for the NC Compact Business enterprise Middle Network.

In accordance to details from very last year’s competitors, far more than half of the individuals were women of all ages, a lot more than fifty percent were being minorities and, by earnings stage, the the greater part were making significantly less than $50,000 a year.

Research present that four out of five business people do not obtain financial institution loans or enterprise cash. In its place, their sources of funding are personal network, generational prosperity or connections to networks. The 53 Tips Pitch Level of competition exists to aid lessen this inequality in entrepreneurship.

“Businesses start with excellent strategies, and we want to be portion of endeavours to give means, nurture and increase those people thoughts so that our group will prosper,” explained Megan Smit, RCCC Modest Organization Centre director.

The “53 Ideas Pitch Competition” is an open up connect with for small business strategies from citizens across the area. Men and women will have 53 seconds to pitch their thought in the type of a video clip submission that could be uploaded to 53tips.com. For open up, inclusive entry, if a person has an plan but does not have the technologies to submit an entry, they can pay a visit to their local little company middle to access a computer system to enter the competitiveness.

Judges will evaluate the submissions and pick out the top rated 53 pitches. Leading entrants will obtain a $50 award, as properly as the opportunity to advance in the competitiveness. Teaching and coaching on pitching, financing, forecasting, and typical business will be available to each and every participant, even if they do not make the top rated 53. These absolutely free sources will be offered by Smaller Enterprise Centers found at local community faculties during the southwest area, which include Central Piedmont, Cleveland, Gaston, Mitchell, Rowan-Cabarrus, South Piedmont, and Stanly.

Following the coaching period, the best 53 entrants will take part in a closed digital pitch function, where by the judges will slim the field down to 10. The best 10 will obtain $250 each individual and go on to compete on a virtual phase for the top awards: very first spot receives $10,000, 2nd spot earns $5,000, and third location gets $2,500 in seed funding to enable transform their suggestions into a practical organization.

“Many folks have excellent tips for new ventures but have problems securing the funds to bring their concepts to lifetime. This level of competition is an partaking and equitable way to establish these thoughts out and to give some of these aspiring business people a prospect to get started out,” RCCC President Carol Spalding claimed.

To discover extra about the “53 Ideas Pitch Competition” or to upload a online video submission by the May 31 deadline, visit 53concepts.com. For much more data about Rowan-Cabarrus Community Faculty, remember to visit www.rccc.edu or call 704-216-RCCC (7222).

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