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New summer pitch competition builds on KCMO capital programs’ early success; applications open now
A new pitch competition is expected to give impactful small businesses and startups an opportunity to gain broader exposure and win cash prizes as the city’s KC BizCare Office expands capital programs supporting entrepreneurs in Kansas City, Missouri.
In late July, five selected business leaders are set to pitch their ideas to about 50 judges, each loaded with $1,000 to give to their top pick.
Regina Sosa, Economic Development Corporation of Kansas City, Missouri
The initiative is the second phase of KC BizCare’s Micro-Business Grant Program — part of the Kansas City Small Business Capital Programs — which has already awarded grants to four businesses in its first cycle.
RELATED: Meet the winners of KC’s first grants for micro-businesses; $55K awarded to women of color
The new phase of the program aims to be more interactive and inclusive, focusing on businesses that give back, said Regina Sosa, capital access manager with the Economic Development Corporation of Kansas City, Missouri (EDCKC), which is coordinating the capital programs with KCMO.
“We wanted to emphasize community engagement — both in getting the name of the program out there, but also in promoting more of the businesses themselves,” said Sosa.
Applications for the pitch competition are open until June 14.
Click here to apply for the Social Impact Pitch Competition.
Supporting those making a change
Eligible businesses must be Kansas City-based, private, for-profit, have fewer than 10 employees, and have been in operation for at least a year. Judges will initially be selected from an advisory committee, including members from EDCKC, KC BizCare, Prospect Business Association, and CrossFirst Bank.
[Editor’s note: Startland News is a partner of the KC BizCare Office and the EDCKC.]
Social impact businesses that qualify for the competition include any that contribute to Kansas City in a positive way with their work, including those involved in education, sustainability, cultural preservation, and more, said Sosa.
“The inspiration behind targeting social impact businesses came from a makeup artist who provides free services to victims of domestic violence to help build their confidence,” she explained. “We’re focusing on businesses like that — entrepreneurs who we don’t really celebrate as much as they deserve.”
KC Small Business Capital Programs
The KC BizCare Office, in partnership with the Ewing Marion Kauffman Foundation and EDCKC, launched Kansas City Small Business Capital Programs in February to provide startups with access to capital, promoting innovation and economic growth.
ICYMI: New capital programs for KC small businesses unveiled, starting with micro-biz grants
This broader initiative offers Kansas City small businesses low-interest loans, grants, and financial assistance, along with training and technical support to help entrepreneurs succeed.
“Together, we can connect entrepreneurs with the tools they need to access low to no-interest capital, fueling business growth and enriching our local economy,” ,” said Shakia Webb, program officer with the Kauffman Foundation. “We can build a more inclusive future for all Kansas Citians.”
Building a better KCMO
For businesses preparing to pitch, Sosa emphasized that storytelling is crucial: what makes a winning pitch is how well the business knows itself and can articulate its impact, she said.
“Be very thorough, very detailed. This is the time to really showcase your talent as an entrepreneur, and the impact that your business is having,” said Sosa.
Training will be provided beforehand to help businesses make the most out of the opportunity.
With its recognition of entrepreneurs and the support available for them, Sosa hopes the pitch competition will have a lasting impact on Kansas City’s small business community.
“A lot of what we do is building a better KCMO — and not only showing the resources that are here for entrepreneurs — but actually making Kansas City a place where people want to come and do business,” she said.
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