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Women's Small Business Statewide Competition With Local Companies in Finals (1180 hits)

Report on Montgomery- Area Companies in the Top-Five Statewide Finals That Help Women & Families

WHEN: Wed. (May 31), from 9 a.m. to noon.
WHERE: ASU's John Garrick Hardy Student Center Theater (across from the Acadome).

A nationwide competition is underway to find the most innovative products and services that both helps impact and empowers the lives of women, and Alabama State University's Small Business Development Center (SBDC) has been selected as the events' statewide sponsor and host for the U.S. Small Business Administration's (SBA) "Innovating for Women Business Challenge."

The event is called "InnovateHER," and the statewide competition will be held at ASU on Wednesday (May 31), on campus, from 9 a.m. – noon, at the ASU John Garrick Hardy Student Center Theater.

Among the five statewide finalists are some Montgomery - area, women-centered companies.

Here is what has transpired so far before Wednesday's statewide competition - entrepreneurs have already submitted their proposal/plans for the competition and they have been reviewed by a selection committee, which has narrowed it down to five semifinalists who will "pitch" their plans and be judged at ASU.

The judging is segmented into three categories, which includes:

1) Showing how the product/service has a measurable impact on the lives of women and families (30 percent);

2). Demonstrating its potential for commercialization (40 percent);

3) Proving how it fills a need in the marketplace (30 percent).

After Wednesday's judging, the top finalist’s business plan will be submitted to the SBA to compete in its final round of competition where the winners will have the opportunity to pitch their products and ideas to a panel of judges and compete for the top three nationwide awards, which includes $70,000 in prizes.