RAYMOND, NH – The Regional Economic Development Center (REDC) is launching the Granite State Growth Competition, a state-wide business pitch competition with a grand prize of $25,000 to help the winning business grow. The competition will support New Hampshire’s entrepreneurial ecosystem and increase the visibility and skills of young businesses. Applications for the Granite State Growth Competition are due on March 6, 2019 at midnight.
“The Granite State Growth Competition will showcase the innovative and inventive young, small businesses across the state,” said Laurel Adams, President of REDC. “In addition to giving the winner funds and momentum, we hope this competition shows that New Hampshire is a great place to start and grow a business, encouraging those who might be thinking about building a business to dive in and use the available resources.”
REDC has spent the past 25 years working to help the southern New Hampshire economy and local businesses grow. Its programming has expanded to assisting people across the state, most recently with the launch of its New Americans Loan Fund, the state’s first microloan fund designed specifically to help first-generation immigrants start and grow businesses. By creating the Granite State Growth Competition, REDC will be able to assist more businesses in all corners of the state, making more of a lasting impact – a fitting development for its silver anniversary.
Companies across the state are eligible to apply. Businesses must be for-profit, registered in New Hampshire, have been in existence for fewer than three years (as of March 6, 2019) and generated less than $300,000 in revenue in 2018. REDC clients are eligible to participate, as the organization will not participate in judging the competition.
The Competition will include three rounds. On March 12, applicants will be notified if they are one of the 10 ten businesses selected to participate in the first round. The first round will consist of applicants pitching their ideas to a panel of judges, including economic development experts and entrepreneurs, on March 26. Seven businesses will advance to the semi-final round on April 2, where the applicants will pitch to the judges and an audience during a free event at REDC headquarters in Raymond.
The judges will pick five businesses for the final round. On April 10, each finalist will participate in a 20-minute question and answer session with the judges, who will share insights and guidance, helping contestants refine their pitches. After incorporating feedback from the judges, the competition will culminate with the five finalists presenting their pitches live in front of a packed crowd at REDC’s 25th anniversary celebration on May 9 at Birchwood Vineyards in Derry. The winning business will be announced at the anniversary event.
“We’re looking forward to seeing the wide variety of businesses that will enter the competition,” said William Davis, Chairman of REDC. “This pitch competition can help a business in so many ways – not just with the winning funds, but by giving them exposure, connecting them with key services, other entrepreneurs, and other sources of funding to help them work towards sustainable growth and profitability.”
REDC will also host a “How to Pitch” workshop on March 15 at its office in Raymond. The workshop is required for competition contestants and open to any members of the community who would like to learn more about pitching business plans. REDC Business Advisor Chris Duffy will lead the workshop, discussing the competition and judging criteria. Small Business Development Center experts and other pitch program organizers will detail the elements of a good pitch. Participants will also learn from a local entrepreneur who has successfully pitched its business.
For more information about the Granite State Growth Competition, or to apply for the competition, visit www.redc.com/
About Regional Economic Development Center
The Regional Economic Development Center, established in 1994, is a private, non-profit organization that offers technical assistance, financing through various funding sources, and business development training. The REDC seeks to promote responsible, sustainable economic development activities in southern New Hampshire by creating jobs for low to moderate income people and providing alternative financing for business and industrial expansion/relocations, which in turn provides tax relief for communities and the region.