"With this competition, we're hoping to support the best ideas... not only with capital, but also with connections to the right people and resources" - Alfa Demmellash
Jersey City, NJ (PRWEB) September 26, 2012
New Jersey entrepreneurs will have the opportunity to pitch original ideas to local leaders, gain online visibility, and win $25,000 in prizes- with $10,000 for the top prize- during the Start Something Challenge. JPMorgan Chase and Priceline.com founding member Jeff Hoffman are among the lead sponsors for the initiative spearheaded by NJ nonprofit,Rising Tide Capital.
“With this competition, we’re hoping to support the best ideas and talent from under-resourced communities not only with capital, but and also with connections to the right people and resources,” said Alfa Demmellash, co-founder and CEO of Rising Tide Capital.
In addition to the pitch competition, the Start Something Challenge also includes a series of events to help entrepreneurs execute their business ideas.
To compete, entrepreneurs are required to submit a 30-second video using the free version of Animoto, along with a 150 word business description by September 30.
Those who make it past an initial round will have a chance to pitch their idea live before a panel of local celebrity judges for a chance to win up to $10,000 and get recognized during Rising Tide Capital’s first annual gala in December 2012.
The business pitch competition is open to NJ-residents 18 years and older with businesses generating $250,000 or less in annual revenue. The competition is also open to non-business owners with an idea to pitch. Entrepreneurs can learn more at http://www.thestartsomethingchallenge.org.
The Start Something Challenge is the latest initiative of Rising Tide Capital, a nonprofit organization founded to equip entrepreneurs in urban, low-income communities with tools and resources to start and grow successful businesses. The organization provides a 12-week Community Business Academy, in addition to on-going Business Accelerations Services. To learn more, visit http://www.RisingTideCapital.org.