Entrepreneurs ages 18 to 25 invited to apply

Southern Minnesota Initiative Foundation is searching for applications for new organization thoughts from business owners who are 18 to 25 years aged. The Aspiring Business owners Small business Opposition will help the advancement of three new firms in southern Minnesota. A prize pool of $15,000 will be divided among the the three finalists.

Entrepreneurs who are fascinated in starting a company in SMIF’s 20-county location are invited to submit their strategies for their company startup by Feb. 28. A few finalists will have accessibility to small business teaching for their pitch session, no cost consulting several hours and a chance to gain investment funding for their business. Finalists will pitch their suggestions to a panel of business leaders and buyers in Owatonna on March 31.

The opposition began in 2015 as an option for university students in southern Minnesota to pitch their small business strategies for the duration of SMIF’s once-a-year Entrepreneurial Bridge occasion. This is the to start with calendar year this competition, which is now a standalone celebration, will be open up to any person ages 18 to 25 who has a business concept.

“Over the many years it has become obvious that several entrepreneurs really don’t automatically stick to the conventional path of a four-year university degree,” said Pam Bishop, SMIF’s vice president of financial growth. “Our purpose is to expand this possibility for small business assist to everyone in our location in that youthful age bracket, college student or not.”

“At SMIF, we want to be confident that the next generation of business people has the probability to take their tips and flip them into actuality,” said Tim Penny, president and CEO of SMIF. “Our hope is that if they begin a organization in southern Minnesota, they will put down roots and continue to be here, contributing to the economic vitality of our region.”

SMIF has played a potent position in increasing nearby organizations by supporting entrepreneurship considering that 1986. In addition to the Aspiring Entrepreneurs Enterprise Levels of competition, SMIF delivers early-phase investments, traditional loans, microloans, specialized support, peer networks and company trainings to reach the vision of building financial prosperity and…