Native Biz Business Idea Contest

cnmstemuluscenter

So, just what is a Business Start Up?

A Business Start Up is the early stage of starting a business. It’s when the entrepreneur moves from the idea phase to formalizing the basis structure of the business and initiating operations or trading. The goal of the startup is to figure out the right thing to build (as quickly as possible), which customers will want it, and what are they willing to pay for it. However, it’s not just about a product, a technological breakthrough, or even a brilliant idea. A Start Up is a state of mind with ‘learning’ being the essential unit of progress, and then, through coaching and mentoring, the business proposition becomes a human endeavor that changes lives.

Help your business grow by competing in the first Native Biz Business Idea Contest this summer. If you have an idea for a business and are a Native American, or you are starting a business that benefits the Native American community, we want you to compete!

About the Competition:

Submit your application to compete by Friday, July 22. The competition will have two categories: one for current students (at any high school or college) and one for community members. Entries can be submitted by either teams or individuals.
Entrants that meet the basic qualifications will receive coaching on their business and how to “pitch” their idea before a panel of judges made up of local business leaders.

Business Model Canvas Workshop – Tuesday, June 14, 2 – 4 pm at the STEMulus Center in Downtown Albuquerque.

Learn to Pitch Your Business Workshop – Tuesday, July 26, 2 – 4 pm at the CNM STEMulus Center in Downtown Albuquerque.

Business Idea Pitch Day – Thursday, August 4, 5pm – 7pm at the Indian Pueblo Cultural Center

Awards Ceremony – to follow business presentations and judge scoring

Apply Here

Grand Prize Winner

  • $500 for Business Development
  • IGNITE Community Accelerator – Acceptance and covered fees to participate in the accelerator beginning August 19.
  • FUSE Makerspace- 3 months free membership, 1 free class, 2 hours of free one-on-one production consulting.
  • FatPipe ABQ Coworking Space- 3 months free space, and for each member of team
  • 2-Day “Intro to QuickBooks Pro for Small Businesses” workshop
  • $500Legal Services provided by Lerner Venture Law

Community Choice Award

  • IGNITE Community Accelerator – Acceptance and covered fees to participate in the accelerator beginning August 19.
  • FUSE Makerspace- two free classes
  • FatPipe ABQ Coworking Space- 3 months free space, and for each member of team
  • $500Legal Services provided by Lerner Venture Law

Student Category Prize

  • $500 for Future Business Development
  • Apple iPad
  • Business mentorship, networking, media coverage of business and product/service

Criteria:

Business ideas will be judged on the following:

  • The overall feasibility and persuasiveness of the idea
  • Potential for growth or overall societal benefit
  • Clarity and development of the idea
  • Feasibility of building and sustaining a competitive advantage

Coaching

To assist and support these budding entrepreneurs, CNM Ingenuity will offer one-on-one business coaching services in addition to workshops to prospective applicants to help with idea development, minimum viable product, target markets, etc. Also, we would like to offer the winner(s) of the “Native Biz” Business Idea Contest acceptance into the Fall 2016 IGNITE Community Accelerator, that will begin August 19th as well as other prizes.

Questions? Contact Contact Kerri Eichwald at keichwald@cnm.edu or 224-4000, Ext. 53299.

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