While discussing a friend’s budding business recently, he said something bold that stood out to me: “I think this product will be one that makes people say, ‘Shut up and take my money’ when they see it.”
He was confident in what he’s going to sell, and I instantly thought, “This guy needs to be on Shark Tank.” Why? Because founders that are confident while pitching their products and services excel in business. They do well because they explain well.
This got me thinking about the ways people get the capital to start their business. Most of us take out loans. How many of us actually get the chance to pitch our product to the judges on Shark Tank? Very few.
But winning cash for your startup doesn’t have to take place in a TV studio. Thousands of startup competitions and contests are held every year to give confident entrepreneurs the chance to woo the judges in exchange for some serious startup capital.
I found 4 upcoming contests that award cash and prizes to the winning startups and tracked down the important details on each. Here they are:
Partnership for Freedom Tech Challenge
Deadline: 12/13/15
Location: Washington D.C.
This contest challenges tech entrepreneurs to innovate and disrupt labor trafficking around the world by creating technologies that allow us to track, identify, and manage violations.
Prizes: $500,000 in prizes, including the ultimate grand prize winner grant of $250,000 to build the winning idea and five (5) $20,000 prizes to finalists
FastPitch Startup Contest
Date: March 4, 2016
Location: Savannah, GA
You’ve got just 3 minutes to pitch your startup in FastPitch’s competition. Coaches will be available to give you feedback on your pitch before, during, and after your turn to help you craft the best pitch possible. This one’s hosted by Creative Coast.
Open categories are:
Student entrepreneurs
Service-based entrepreneurs
Product-based entrepreneurs
Prizes: Awarding nearly $300,000 in cash and prizes to winners and runners-up
Build a Business Contest
Date: 5/31/16
Location: New York City, New York
Five startups will join Shopify on the ‘entrepreneurial experience of a lifetime’ in this contest. To enter, you’ll need to create a Shopify store. The winners are chosen according to sales from their Shopify page over 8 months, so the 5 companies with the most sales will be selected.
Signup is open through March 31, 2016.
Prizes: 5 day retreat begins with you ringing the opening bell at the New York Stock Exchange, and includes live interviews with CNBC, your company name on the side of the NYSE, mingling with 9 famous mentors, and spending a week at the Great Gatsby Mansion.
Hult Prize Startup Accelerator
Date: 12/18/16
Location: Online
The Hult Prize was called one of the top 5 ideas changing the world by Time Magazine and President Bill Clinton. It’s a contest for young entrepreneurs interested in tackling serious social issues around the world. To be eligible, you must be a current student, or have been a student previously, at a university. All participants on your team (3-4 people) must be from the same institution, with a max of 1 alumnus who cannot be a faculty member of the school.
Prizes: $1,000,000 in startup funding
Startups are about innovating and improving existing industries and processes. These contests exist to help push great ideas further along with the help of extra capital. If your startup meets the eligibility requirements, enter a contest and see if your idea has what it takes to win. You may surprise yourself!