BBVA USA is taking its small business-focused initiative to the Rocky Mountains, announcing today the beginning of its Entrepreneurial Opportunity Contest in the Denver area.
- Contest: The initiative with The Business Journals was first held in four markets in the first part of the year.
- Criteria: Businesses with innovative services, products, or business model submit their entry for a chance to be selected as finalists and pitch to a panel of judges.
- Prize: The winning business will be awarded $10,000 and an opportunity to compete for $50,000 at the final event in Phoenix against previous winners in other markets.
The overall contest was launched earlier this year in four different markets, with the bank teaming up with The Business Journals for the initiative. The contest aims to garner funding for an established area small business that demonstrates an innovative service, product or business model.
Wykstra: I am excited to see what Denver’s innovative minds will bring to the table.
“When we started this contest, we wanted to make it available to markets that have a vibrant small business and entrepreneurial scene, including the Denver area,” said BBVA USA Colorado CEO Andy Wykstra. “Small businesses are the lifeblood of this market, and I am excited to see what Denver’s innovative minds will bring to the table during this initiative. BBVA’s passion to help small businesses thrive has always been one of the bank’s cornerstones, and it shows even more with this new opportunity.”
Interested businesses can submit applications for the contest on the Business Journals’ website by clicking here. Potential contestants must demonstrate how they are innovating to create opportunities for their clients and market, whether through disruptive technology, a new product, service or business model creation or serving customers in new and different ways.
After submission, five finalists will be selected by an internal panel. Those finalists will then pitch their business at a Business Journals event where a panel of judges, combined with public online voting, will select one winner from the market. That business will be awarded $10,000 and an opportunity to compete with previous winners from other markets for an additional $50,000 at the final event in Phoenix.
The contest is open to small business owners that have been established for a minimum of two years as of the date of entry and have at least $1 million in annual revenue.
Other markets where the Entrepreneurial Opportunity Contest has been held include Austin, Dallas, Houston, and San Antonio. The winners of the previous contests are as follows;
- Easy Expunctions (San Antonio)
- The Center for Psychological Services (Dallas)
- RunLab Austin (Austin)
- re:3D (Houston)