Young entrepreneurs will compete for expansion and start-up capital in a pitch competition to be held in conjunction with the North Flint Food Market (NFFM) and the Office Research and Economic Development at the University of Michigan-Flint (UM-Flint) this weekend. Budding entrepreneurs who have participated in the [IN] on the Road Business Bootcamp for Young Adults over the last few months will have a chance to present in front of a series of judges. The winners will receive up to $200 in prize money to use towards expenses for their business on Sunday, August 15 from 2 to 5 p.m.
Business-minded youth and future entrepreneurs in north Flint have been honing their business skills through the program offered in conjunction with the UM-Flint to bring a no-cost business bootcamp to young people. The program included monthly workshops to help youth learn how to start their own business and to understand business cooperative models.
According to Nic Custer, Innovation Services Manager, Office of Research and Economic Development, “The pitch competition will bring together all of the aspects of the business bootcamp into a sales pitch opportunity. Participants will table at the pop-up vendor fair and will pitch their business venture to the three judges as they pass by their table.”
The pitch will be judged on the following criteria related to the business’ value proposition:
- Whether it has a competitive advantage
- If it has a clear target market and marketing strategy are identified.
- Whether the revenue model is clear and if the presentation was logical, persuasive and polished.
After viewing the participants’ pitches, the judges will tally their scores and will award $200 to the first place, $150 to second, $100 to third and $50 to fourth place. If there are less than four participants, judges have the discretion to add additional prize funds to each place. The judges for the competition include Donyale Clemmons-Sims and Brianna Scott.
Participants include young people like Erica Anderson whose clothing design business, @e.lynnfashions on Instagram, has been gaining momentum over the last year. She will be showcasing her business expansion ideas to the judges during the pitch competition and will have a chance to win one of the four prizes.
“We are so proud of the young people who have participated in our Business Bootcamp Program,” said Arlene Wilborn, NFFM General Manager.
“The cohort started the program in April and have worked hard to hone their business skills over the last few months,” Wilborn added. “We are looking forward to hearing their pitches this weekend.”
The competition will take place in conjunction with the Stop and Shop Pop Up which is part of a series of events supporting small businesses. Members of the community are invited to shop at the small business pop-up event taking place this Sunday on the lawn of Eagle’s Nest Academy. There is no cost to attend the event which will take place at 5101 Cloverlawn Dr., Flint, 48504. Future dates for the pop-up shopping events include Sunday, August 22 and Saturday, September 11. The In/ Out Taco Stand food truck will have items available for purchase on site.
The program is funded in part by the Illuminating Community Change (IC2) which is a Community-Based Crime Reduction Grant by the U.S. Department of Justice Bureau of Justice Assistance.
Work has already begun on the future site of the NFFM which will be located at 5402 Clio Rd. in Flint, with a groundbreaking ceremony planned for August 30. The NFFM will differ from a traditional grocery story because it is owned by its members. Residents, organizations and businesses have purchased memberships as investment into the store’s development. Memberships are still available for purchase at a one-time cost of $250 for individuals and $500 for businesses and organizations.
Anyone interested in being a vendor can contact Arlene Wilborn at 810-620-1974 or by email at wilborna@aol.com. There is no cost for vendors to participate. Additional information on the pitch competition and pop-ups can be found on Facebook at www.facebook.com/NFFMKT/.
