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Wayne County entrepreneurs eligible for startup funding
Wayne County entrepreneurs eligible for startup funding
Listen to this articleThe Wayne Economic Development Corp. has opened applications for its Startup Pitch Competition, open to all Wayne County residents with a business in the concept stage or with fewer than three years in operation and less than $250,000 in annual revenue.
KickStart Wayne County also has opened applications for a microburst combined grant and loan program. Applicants cannot apply for both programs at the same time but could receive $25,000 for the winning business pitch or up to $40,000 in a microburst grant-loan award.
This is the third consecutive Startup Pitch Competition. Applicants must provide an executive summary of their business plan and also complete at least one business counseling class before applying. Following the initial round of scoring from a panel of independent judges, the finalists will be invited to pitch their business to a panel of judges at a live event.
Applications are due by Sept. 21, 2021, for the pitch competition.
New this year, the Microburst Program requires a business to be in operation for less than one year. The program offers a 1:1 grant and loan combination ranging from $5,000 to $20,000 for each part of the funding. Applicants are required to submit a full business plan, as well as complete a series of online business counseling classes provided by SCORE of Greater Rochester.
Eligible uses of funds include furniture, fixtures, equipment, working capital, inventory and employee training expenses, but cannot be used for construction costs. Applications will be accepted on a rolling basis until funds are depleted.
“We encourage Wayne County residents to follow their entrepreneurial spirit and apply for one of these KickStart programs,” said WEDC Deputy Director Katie Bronson. “There is some work involved, but this is a great opportunity to learn how to take a business concept to market and to get expert advice and funding along the way.”
More information can be found at WEDCny.com.
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