The U.S. Small Business Administration has launched the Patriot Pitch Competition to celebrate 250 years of American free enterprise.
Showcasing that small businesses drive innovation, create jobs and generate economic growth, a $1 million cash prize pool will be open to eligible small businesses that have utilized qualifying SBA capital products.
Monies donated by Clover Network Inc. are designed to spotlight the legacy of entrepreneurship.
SBA Administrator Kelly Loeffler described the contest as a demonstration of how small business represents “big business for our nation.”
“We look forward to highlighting the resilient job creators and local businesses who are delivering the services, products, and solutions that are defining America’s future,” she said in a news release. “This contest will award a total of $1 million in cash prizes to small businesses whose innovation, grit and leadership are helping build America’s next great era of strength, prosperity and competitiveness on the world stage.”
Competitors will be judged on competitiveness and their ability to demonstrate an outsized impact within an industry. Judging will also include a company’s ability to deliver economic opportunity and quality jobs.
Finals will be held in Washington, D.C. in September.
The Patriot Pitch finals event will feature speakers from business, government and industry, plus a supplier matchmaking expo connecting small businesses with larger companies for contracting and networking opportunities with investors, industry leaders and policymakers.
Small business owners interested in competing are encouraged to submit an application by June 10.
Additional details on eligibility, competition stages and event programming can be found at http://www.sba.gov/freedom250.
This article originally appeared on St. Augustine Record: SBA launches ‘Patriot Pitch’ competition with $1 million in prizes
Reporting by Lucia Viti, St. Augustine Record / St. Augustine Record
USA TODAY Network via Reuters Connect
