5th Annual IdeaFest Business Pitch Competition - March 29
What is IdeaFest?
IdeaFest is a Business Pitch Competition where 20 finalists will pitch their startup idea to a panel of judges and a live audience.
1st Place $5,000
2nd Place $3,000
3rd Place $1,500
Audience Choice $500
What do you hope to achieve?
We want to stimulate innovation and entrepreneurship to continue to diversify the economy in the Dan River Region. We feel it’s a great event to engage the local community as well as introduce people from other regions to the assets available for entrepreneurial growth here in the Dan River Region.
For entrepreneurs, it’s a forum for them to develop their ideas by pitching their venture to a panel of judges and allows the entrepreneur to receive constructive feedback that will help them grow their new venture. And the best part, the top competitors will walk away with cash prizes to use to grow the venture. Another key part of the event is networking. Entrepreneurs will be able to network with fellow entrepreneurs, future customers as well as investors such as The Launch Place. We follow the companies that pitch at IdeaFest and track their progress for possible future investment from the Pre-Seed or Seed Funds.
Who should participate in IdeaFest?
IdeaFest is truly what it sounds like – “IDEAS” are pitched. Yes, it’s true that questions will need to be answered focused on the business model around the idea, however, the venture can be very early without customers. Eligibility includes the ideas and concepts pitched must be in the initial stages of development where funding to date is no more than $50,000. We want to ensure the ideas that have a solid business model can proceed onto market validation and the prize money awarded to the top competitors can enable the validation to be conducted whether through pilot customers or third party review. Therefore, any entrepreneur that has a venture idea should apply to IdeaFest.