by North Forty News Staff | NorthFortyNews.com
U.S. Small Business Administration program offers $1 million prize pool for innovative entrepreneurs
Northern Colorado entrepreneurs and small business owners are encouraged to apply for a new national competition that highlights American innovation and business growth ahead of the nation’s 250th anniversary.
The U.S. Small Business Administration has launched the Freedom 250 Patriot Pitch Competition, a nationwide initiative designed to recognize small businesses demonstrating innovation, resilience, and economic impact. The competition includes a $1 million prize pool funded by Clover Network, Inc.
According to SBA Rocky Mountain Regional Administrator Justin Everett, the program aims to celebrate entrepreneurs who solve problems, create jobs, and strengthen communities through business ownership and innovation.
Eligible businesses must have operated for at least three years, generate at least $100,000 in annual revenue, and have previously used one or more SBA capital products. Businesses must also be fully owned by U.S. citizens or lawful permanent residents and demonstrate innovation through technology, modernization, or new business strategies.
Northern Colorado businesses selected as semifinalists would gain national exposure and the opportunity to compete live in Washington, D.C., where finalists will present their ideas before judges for a share of the $1 million prize pool.
The top 10 semifinalists will be announced this summer during the Great American State Fair, with five finalists advancing to the live championship event in the nation’s capital.
The SBA says the competition is intended to recognize the role small businesses have played in driving American economic growth for generations while encouraging continued innovation in communities across the country.
Applications and eligibility requirements are available at the SBA Freedom 250 Patriot Pitch Competition.
Source: U.S. Small Business Administration