1ST50K is a startup competition for startup business ideas that offers extensive support from a broad business network, pro-bono development services, and up to $50,000 in cash grants to entrepreneurs to establish or locate their businesses in Cape Girardeau, Missouri.
What Do You Get?
The Competition Committee makes quarterly investment recommendations to Traverse Ventures, a local venture capital fund focused on formative stage ventures. Traverse Ventures makes $100,000 available each year to fund cash grants to the most promising applicants in the competition.
Recipients receive award packages including a variety of business development support services, formal introduction and access to a broad network of successful entrepreneurs and up to $50,000 in cash grants. Pro-bono services are provided in the following areas: accounting, legal, marketing and design, communication, financial consulting, banking consulting and services, information technology consulting and web hosting, human resources, and payroll services.
Recipients are also provided access to venture capital and angel investment networks, professional and high level business mentorship, personal introductions to strategic business leaders, social support and community integration services, and inclusion as part of a community of innovative entrepreneurs.
Well-positioned participants in the competition may also be eligible for immediate or follow-on equity or debt investments from Traverse Ventures and other strategic private investors.
Who Should Apply?
1ST50K is looking for innovative technologies, products, or services, driven by scalable business models with regional, national or international impact. We seek to attract entrepreneurs who are already located in Cape Girardeau OR are willing to relocate here.
Basing your business in Cape Girardeau is a prerequisite for receiving a grant. Our network of entrepreneurs, partners and business leaders are investing their time and resources in making the Cape Girardeau startup scene even stronger.
1ST50K Startup Competition is an industry-agnostic competition. Our focus is on supporting businesses that are innovative and scalable, regardless of the industry.
For submission guidelines please visit http://www.1st50k.org/
The Application process begins Spring 2017