Northwest Iowa — It’s almost time for the “Big Challenge” entrepreneur contest again.
Lyon County Economic Development Director Steve Simons is one of the people telling us about the contest. He tells us what it’s all about.
He says entrepreneurs get valuable experience while trying to get the money. He says the final contest is similar to a game show or the TV show “Shark Tank.”
He says whether they win or not, it’s a good experience for those trying to run the businesses.
The cooperating economic development organizations are teaming up to offer $10,000 in prize money. BIG, in this case, is an acronym that stands for Build, Innovate, and Grow. And organizers tell us that’s exactly what they want to encourage the entrants to do.
They say the contest gives entrepreneurs and small business owners the opportunity to submit their dreams to start or expand a business, then encourage friends, family, and customers to vote for them online. The finalists will present their idea to an audience and judges in the pitch-off event for a chance to win thousands in cash prizes.
Now through October 1st, 2023, entrepreneurs in Lyon, Monona, O’Brien, Osceola, Plymouth, Sioux and Woodbury counties can visit www.iawestcoast.com and click on “The BIG Challenge” under the “More” dropdown to submit their business or startup ideas.
They tell us voting on the submitted ideas will take place October 4th through October 13th, 2023. During the voting period, the entrepreneur will recruit others to vote for their entry online. The top three vote-getters will advance to a regional pitch-off competition, along with two additional entrants chosen by a selection committee. Each finalist will receive personalized coaching from the Small Business Development Center and UNI’s Center for Business Growth and Innovation.
The regional contest will be held the evening of Thursday, November 16 in Le Mars at The Wells Visitor Center & Ice Cream Parlor. That evening, the finalists will have the opportunity to showcase their ideas with first place receiving $5,000, second place receiving $3,000, third place receiving $2,000 to grow their business.
