The U.S. Small Business Administration is looking for business concepts having a positive impact on women and families through its “InnovateHER” competition that offers participants the chance to win up to $40,000 to develop projects.
The competition responds to challenges faced by women — who increasingly represent a higher percentage of the workforce — that require innovative products and services for them and their families.
The InnovateHER Challenge provides an opportunity for entrepreneurs to showcase products and services that: Have a measurable impact on the lives of women and families (30 percent); Have the potential for commercialization (40 percent), and fill a need in the marketplace (30 percent), according to the SBA’s website.
Entrepreneurs interested in participating in this competition locally have until Nov. 13 to submit a 1-minute video explaining their business concept and the way it meets the aforementioned parameters. The video, preferably in English, should be sent by email to local competition host, Pilot Labs, at email@example.com.
Pilot Labs will then select five videos that best represent InnovateHER. Those selected will have to present a three-minute pitch on Nov. 17, during the Women Tech Over event. A panel of judges, consisting of business leaders and organizations, will be in charge of selecting the best proposal, which will go to a semifinal round competing against other U.S. jurisdictions.
Women Over Tech, which is part of the activities that are part of Global Entrepreneurship Week, will be held in Santurce. The activity is open to the general public, and will consist of a dynamic workshop to improve the so-called “elevator pitch,” as well as presentations for the InnovateHER SBA challenge.
Ten finalists will move to the final stage in Washington, D.C. in March 2016, and will compete for a top prize of $40,000 sponsored by Microsoft, organizers said.