10th Annual IDEA Competition: Kick-off Party in Bemidji

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On Tuesday, October 10, 2017, the Launch Pad hosted a kick-off party for the 10th Annual IDEA Competition. This open house was an opportunity for anyone interested in learning more about the IDEA Competition to hear from staff and past winners about the process and what to expect when participating in the competition for the first time.

IDEA is a competition that turns great ideas into great businesses. The competition provides training, business coaching, and capital to entrepreneurs who apply and want to turn an idea into a fast-growth business.

While most entrepreneurs enter to win one of three $10,000 cash awards, there are several other good reasons to enter. Applicants receive valuable tools and business development resources, a business coach, open access to all IDEA Labs, attention in the media, and a chance to present their idea to accredited angel investors and business leaders. Plus, there is a chance to win valuable services from accounting, legal, and marketing professionals. This year, there is a new Emerging Entrepreneur category of the competition, created to encourage more participation from applicants of all ages and experience levels.

Ryan Zemek from HRDC welcomes guests at the kickoff party.

“We are excited to celebrate the impact that the IDEA Competition has had on our region’s economy and local entrepreneurs,” says Phil Knutson, NMF business development specialist. “We will be celebrating all of our past winners and Hall of Famers throughout the competition, and we’re looking forward to seeing this year’s talent pool.”

Knutson stated that the competition has a stronger business focus. He said, “This is not an invention competition. It’s about businesses that are built on great ideas and social entrepreneurs making a difference for our region.”

Jason LaValley and Mychal Stittsworth (middle)
share their experience participating in the IDEA
Competition.
Jason LaValley of LaValley Industries, and a two-time IDEA Competition winner, spoke about his experience at the party. He said, “I built a product prototype in my garage while I was working construction, and I had no idea how to take it to market,” today, LaValley Industries continues to innovate and is a company that employs 26 workers.

In 2017, Mychal Stittsworth, owner of Stittsworth Meats, won the competition with his idea to create a mobile meat processing truck. This resource would enable Stittsworth Meats to provide farm-to-table meats to its customers, eliminating the need for a middleman. "Participating in the IDEA Competition enabled us to take our family business to the next level," said Mychal.

From now until November 30, 2017, you can apply to participate in the IDEA Competition for the early bird price of $99. Price increases to $150 on December 1. 


Visit the IDEA website for more information and to apply today for your chance to win $10,000!




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