Thousands of entrepreneurs have pitched their startup business ideas at 1 Million Cups programs held each week in 71 U.S. cities and Puerto Rico
. The Kauffman Foundation today launched a pitch competition
for those presenters to vie for the chance to be named “One in a Million” and win a first-place prize of $10,000.
1 Million Cups is a free, weekly program that educates, engages and connects local entrepreneurs. Every Wednesday morning, entrepreneurs present their startup business idea in detail and answer questions from the audience.
“Entrepreneurs who present at 1 Million Cups hone their presentation skills and gain helpful insights about their business model,” said Wendy Guillies, Kauffman Foundation president and CEO. “The One in a Million competition will offer personalized mentoring from experts and brings the excitement of competition to a national stage – all to showcase what educational support can do for an entrepreneur.”
Online applicants will be evaluated on their businesses’ marketability; long-term potential; the makeup of their startup team; and their ability to convincingly communicate the components of their businesses in a few minutes. Fifteen semifinalists will be selected to compete in person at the Kauffman Foundation in Kansas City, Mo., on Nov. 17 and 18, during Global Entrepreneurship Week. The second- and third-place winners will receive $5,000 and $1,000, respectively.
The One in a Million competition is open to any of the more than 5,000 entrepreneurs who have presented at 1 Million Cups. In addition, their companies must be less than five years old with a scalable business model.
The application deadline is August 7. More information is available at www.kauffman.org/1NAM.