If you’re a burgeoning startup, oftentimes funding — besides your brilliant idea — takes up a considerable amount of brain space.
While the Ocean State offers a few options for a more traditional approach to getting capital, such as consulting with an angel investor or going through venture capital firms, there’s also ample opportunity to win some cash via a local pitch competition.
Below, we’ve rounded up a few of these events, highlighting pertinent details like prize total, yearly frequency, requirements and more. Note that we didn’t include Demo Days from local accelerators, which often require participants to have gone through its full program to pitch.
Is there a competition we missed? Let us know.
- Who: Hosted by Cox Communications. While the application period for this year's competition has closed, this is an annual event.
- What: "Whether it’s a brand new startup or an entrepreneur looking to grow their current business with a new idea, join us to learn from each of our finalists, and a star-studded panel of experts."
- Where: WaterFire Arts Center, Providence
- When: Historically, once a year; Oct. 4
- Prize: Winners claim a prize package valued at up to $50,000.
- Who: Hosted by the University of Rhode Island. Students from all colleges are encouraged to apply. While the application period for this year's competition has closed, this is an annual event.
- What: "Compete to win $1,000 at this 48-hour hands-on design and maker fest ... [which looks] to apply human-centered design approaches to solving residential water quality problems."
- Where: URI
- When: Historically, once a year.
- Prize: $1,000
- Who: Hosted by RISD, Brown and Bryant University, this competition is open to students at all three schools.
- What: "Prepare a sixty second pitch with no visual aids to present to a panel of esteemed judges. This competition is business idea focused, projects will not be considered."
- Where: Brown University
- When: Historically, once a year in October.
- Prize: $2,000
Rhode Island Business Plan Competition
- Who: Hosted by The Competition, a nonprofit organization. There are three tracks for interested applicants: the Entrepreneur Track (18+ entrepreneurs who aren't students); the Student Track (for full-time college students); and the MedTech/Life Sciences Award (selected from all applicants).
- What: "The Rhode Island Business Competition is an annual competition sponsored by businesses, professional services firms, investors, banks, nonprofits, foundations, colleges, universities, and government agencies."
- Where: N/A
- When: Historically, once a year.
- Prize: In 2018, $259,300 in prizes were shared amongst three winners and three finalists.
The Lt. Governor Entrepreneurship Challenge
- Who: Hosted by Lt. Gov. Dan McKee and Millennial RI, this competition is open to students in grades 9-12.
- What: "The Lt. Governor's Entrepreneurship Challenge is Rhode Island's first statewide business pitch competition for Rhode Island high school students, grades 9-12, aimed at encouraging entrepreneurship and promoting business ownership right here in the Ocean State. Through this program, high school students compete for scholarships to post-secondary institutions."
- Where: N/A
- When: Once a year
- Prize: $9,000 in scholarship winnings
Disclosure: Cox Business is a founding partner of Rhode Island Inno.
