Have a great idea? It could be worth BIG bucks. Ben Franklin Technology Partners is currently accepting applications for its BIG IDEA competition, an event that's awarded nearly $2 million to entrepreneurs and small businesses to date. The contest is open to aspiring tech innovators, small manufacturers and budding entrepreneurs interested in developing their products, software applications or processes.
The contest provides cash infusions for fledgling startups and, arguably equally importantly, it also gives participants invaluable experience and training along the way. You'll become proficient at crafting and delivering your pitch, and you’ll also have ample opportunities to network with key contacts throughout your industry.
If so, you’ve got until 5 p.m. on August 23 to submit your application for the BIG IDEA contest. To qualify, you should intend to take your idea to market and create a for-profit company. Applicants must not have received any other funding from Ben Franklin, including regional contest or TechCelerator cash prizes. You must have less than $500,000 in sales revenue and be located in one of the 32 counties Ben Franklin serves.
Applicants can apply with multiple ideas, as long as a separate application is completed for each individual concept. Finalists will be chosen at the end of August, with Finalists’ Presentation Training starting on September 14 and Final Judging on October 14. This year’s top prize is $50,000. Other prizes include:
Two of the biggest challenges that entrepreneurs face include funding and know-how – two problems that the BIG IDEA contest can help solve. Limited resources can stall a startup before it ever gets off the ground and, although the cost of actually launching is substantially lower than it was a few decades ago, the skill needed to take an idea from concept to market is tough to master. But with the right support, entrepreneurs can see their businesses succeed.
So, think you’ve got a BIG IDEA? Apply today. Who knows – you could be the next big winner!
Ben Franklin is the region’s largest early-stage investor. This award-winning initiative invests in some of the best and brightest innovations developed in the region, providing investment capital, operational assistance and more. It also provides incredible support and mentoring with some of its other programs, including its TechCelerator. To learn more about the programs and services Ben Franklin offers, visit https://cnp.benfranklin.org/programs-resources/.
