GRAND RAPIDS, Mich. -- Start Garden's fifth annual Demo Day will showcase 100 entrepreneur ideas this evening in downtown Grand Rapids.
The 100 is an open competition for business startups. Aspiring entrepreneurs will showcase their business ideas in a trade show format on Calder Plaza, 320 Ottawa Ave. NW. After that, there will be announcement of 10 finalists who will each win $20,000 to help fund their idea. There will also be a $5,000 award for the People’s Choice award. The event is free and open to the public.
People were being encouraged by organizers to RSVP at https://events.blackbirdrsvp.com/demo-day-2024
Here is more information from a Clark Communications news release:
The 100 removes barriers to entrepreneurship . It is based on the belief that anyone from any neighborhood, regardless of resources, deserves a chance to launch a business idea.
Here is how it works:
● Participants made a 100-second video explaining their idea and submitted to 100.startgarden.com by July 8.
● In July, 100 finalists were chosen to receive $1,000 each, no strings attached.
● The 100 finalists showcase at the Sept. 18 Demo Day competition.
● At Demo Day, 10 winners receive another $20,000 to help their business take off
Start Garden is pleased to partner with Northern Initiatives, a nonprofit Community Development Finance Institution (CDFI) that provides loans to Michigan small-business owners and entrepreneurs. The organization will provide each of the 10 finalists the option of taking a pre-approved $20,000 loan through the competition.
CRP, Capital Readiness Program, Powered by the Minority Business Development Agency, MEDC SmartZone, and the Michigan Economic Development Corporation, Meijer, PNC Bank, and Huntington Bank are the financial muscle behind the 100 & Demo Day.
Demo Day is a launchpad for many to showcase their ideas to the public. In 2024, three former 100 participants, including two winners, competed in Pharell Williams’ Black Ambition Prize. The Black Ambition Prize is a tiered opportunity to compete for $1,000,000 and team with a network of talented founders and business leaders across sectors. Wimage Tech, OPNR, and Just Air all participated.
The 100 is the most diverse and accessible business competition of its kind. While it is open to aspiring entrepreneurs throughout the community, Start Garden promotes through intense marketing in historically underrepresented minority neighborhoods. The efforts pay off with demographically diverse submissions:
● Over 400 submissions in 2024
● Over 60% of submissions were from minority groups
“When we designed the Start Garden 100, our goal was to make it a genuine opportunity for anyone from any neighborhood in Michigan,” said Paul Moore, co-director at Start Garden. “It’s literally the easiest $1,000 an entrepreneur can get to play with an idea.”
A previous study reported that the 100 candidates who participated gained no advantage or disadvantage based on the following:
● Where they live
● Education level
● Household income
“We are proud that the data shows The 100 is a level playing field in business competitions,” said Darel Ross, Start Garden Co-Director. “Access to resources is the number one thing entrepreneurs need, and the 100 achieves that at scale.”
The 2023 Demo Day competition drew thousands to see, smell, and taste what new business ideas are coming to GR and beyond. The winning ideas covered five categories: food, technology, products, services, and social impact.
Start Garden Co-Director Jorge Gonzalez said, “We see it each year we do the 100. Relationships are formed, new ventures launched, and new wealth created due to this experience.”
There is more to the competition than the money. The lead-up to the competition and Demo Day itself is designed to expand an aspiring entrepreneur’s network, which is vital to getting any new business off the ground. 44% of competitors reported making more than eight new connections to help their startup. And more than 73% said they would “absolutely” encourage other would-be entrepreneurs to take a shot at The 100.
“We are excited for The 100 this year, as we know it will create opportunities not only for entrepreneurs but for all organizations that want to support entrepreneurship,” said Laurie Supinski, Start Garden Co-Director.
“We won the Start Garden 100 in 2022. At the time, we were getting ready to start an accelerator but didn’t have any capital to work with,” said Andrea (Dre) Wallace, founder of Opnr. Winning the 100 allowed us to buy licenses to some much-needed software and cover some travel expenses to get to SXSW, where we already partnered with Midwest House.
"As an entrepreneur, it's very seldom that you're in a room with 100 individuals leaning into the possibilities of their dreams. The energy, passion, and connections gained are invaluable,” said Kimberly Slaikeu, Ph.D., Founder of Luxe Artisan Preserves and past winner. “Best experience ever.”
"I am always grateful for Start Garden's support early on in my founder journey. As you go through the founder's ups and downs, you learn quickly that community is everything and people are rooting for you, said Darren Riley of Just Air. “To the next generation of 100 who will continue to raise the bar for our ecosystem - know that we are here rooting for you to win."
About The 100:
The Start Garden 100 is a communitywide effort to get 100 aspiring entrepreneurs off the ground in a year. It’s the most diverse and accessible accelerator platform of its kind. By removing the risk from practicing entrepreneurship and raising the visibility of those launching new businesses, the support community around the program includes hundreds of funders, mentors, coaches, and vendors that come together to support the next generation of entrepreneurs in West Michigan.
About Start Garden:
Start Garden is an innovative nonprofit that creates opportunities for entrepreneurs working toward their first $1,000,000 in revenue by providing opportunities for no-strings-attached startup capital. They do this through platforms like The 100 and 5x5 Night, a 16,000-square-foot coworking and incubation space that has membership options for entrepreneurs at nearly any stage, a vast network of connections to share with its members and a robust and diverse leadership team to help people achieve their goals. Learn more at startgarden.com.
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