The Pitch Elk Grove startup contest is returning at the end of this summer with $20,000 in prize money for the best startup pitches from area technology and entrepreneurial companies.
The contest has been run twice before and usually gets more than 50 applicants, said Laura Good, CEO of StartupSac, which handles the programming of Pitch Elk Grove with the city.
The application deadline is 5 p.m. July 15.
Pitch Elk Grove narrows the field of competitors to 16 semifinalist startups who move on to a private virtual pitch-off Aug. 14 to pick eight finalists, who will make five-minute pitches at the in-person event in Elk Grove Sept. 19.
In the past two years, the pitch contest has been run in the spring, but it was moved to late summer this year to not conflict with other events and to allow more investors and participants, Good said.
There is also more money on the table this year. The big prize is first place, which gets $10,000; followed by second place at $5,000, third place at $2,500 and Best Elk Grove Startup at $2,500. The $2,500 prize for third place is new this year.
The applicant geography was also expanded this year to entrepreneurs in Nevada County, adding to the existing seven counties of Sacramento, Placer, El Dorado, Yolo, San Joaquin, Yuba and Sutter.
Nevada County, which includes the cities of Grass Valley and Nevada City, has a history of technology entrepreneurs and companies in the fields of digital video, broadcasting and microwave technology, and signal processing.
Elk Grove uses the pitch contest as an economic development tool to introduce the local startup community to the Sacramento suburb and its finance programs focused on supporting Elk Grove companies.
Rather than spending economic development money to try to get companies to move to Elk Grove, the pitch contest is seen as a tool to grow startups in the city.
Pitch Elk Grove also highlights the Startup Elk Grove Incentive Program, which launched in 2018 and offers direct cash subsidies to startup companies based in the city.
The Startup Elk Grove Incentive Program offers cash grants to companies that will support new jobs or technology opportunities in Elk Grove. The city takes no equity in the companies and the money doesn’t need to be paid back — as long as the companies remain headquartered in Elk Grove. If the company moves out of Elk Grove, or if the company is acquired, the grant becomes a loan.
