KeyBank, Micro Enterprise Services of Oregon and the Portland Thorns are teaming up on a business pitch competition this fall for women-owned businesses.
The prize pot totals $50,000. One grand prize winner will receive $20,000, according to organizers. The final pitch event will be Nov. 16 at Providence Park.
Applications are open now and close Aug. 31 at 11:59 p.m. The competition is open to businesses in Oregon within Multnomah, Washington, Columbia, Hood River, Yamhill and Marion counties or in southwest Washington within Clark, Cowlitz or Skamania counties.
The event has been in Seattle and Cleveland in past years, and this year is its first in Portland.
“(The competition) serves as a platform to connect with an extensive network of women-owned businesses and enterprising individuals in Oregon and Southwest Washington," said MESO CEO Cobi Lewis in a written statement. "Our mission extends beyond providing financial resources for the growth of the contest winner's business; we are committed to offering comprehensive support as they navigate their journey forward. We firmly believe that when women-owned businesses thrive, they become catalysts for job creation and become integral players in fostering robust local economic growth.”
MESO is offering free workshops July 25, Aug. 2 and 5 to help business owners with their applications. The competition is open to startups and existing businesses.
Ten finalists will be selected for the final pitch competition. They will each have four minutes to present before a panel of five judges, according to organizers. Pitches will be judged based on presentation, clarity of business mission, economic impact and the soundness of value proposition.
“Women business owners and leaders positively impact our economy and communities in powerful ways every day,” said Rachael Sampson, national director of Key4Women, the bank’s program aimed at getting loans into the hands of women-owned businesses and co-organizer of this event. “MESO and the Portland Thorns are great co-sponsors in this endeavor, and through this pitch contest we look forward to offering two critical supports women-owned businesses often struggle to find or ask for: mentorship and capital.”
The Business Journal has for years covered the challenges women-owned businesses face when accessing capital whether that is bank lending or venture capital investing. MESO, which has been expanding and growing its lending business, helps business owners from marginalized communities access capital and also offers programs to help them qualify for more traditional lending.
Key4Women has been around since 2005 and has generated more than $12 billion nationally in loans for women-owned businesses, according to the bank.
