Saturday, April 13, 2024

Supernova Business Launch Competition now accepting applications

Winner gets $10,000

Posted

WENATCHEE -- The North Central Washington Economic Development District (NCWEDD) is currently accepting applications for the 2023 Supernova Business Launch Competition (SBLC). The deadline to apply is Feb. 17. For more information and to apply visit ncwedd.com.

The annual competition is a community-based event designed to grow small businesses in North Central Washington. It is open to entrepreneurs, for-profit start-ups, and new small businesses looking to expand in Okanogan, Douglas, Chelan, and Ferry counties and those located within the Colville Confederated Tribes to compete for $10,000.

As part of the competition, participants will receive free professional mentorship and training through a 10-week business development bootcamp which will run from late February through early June. This comprehensive, hybrid program will be available both in-person and virtually and cover the major fundamental areas of business development including market, operational, and financial planning.

Topics covered throughout the course include Business Vision and Goals such as pricing, sales goals, service/product mix, industry – competition and target customers, promotional planning, mindset/beliefs about money and business, legal/liability/licensing and regulation considerations, contingency and space planning, contracts/policy creation/procedure manuals, start-up and expansion costs, cash flow projections, break-even, profit and loss statement and balance sheets, accounting basics and record-keeping, and financing options.

Participants in the SBLC will also receive marketing opportunities throughout North Central Washington, a finalized or updated business plan, and the eligibility to participate in the EDD’s Backing Small NCW Initiative.

Applicants will also be invited to attend monthly Breakfast Learning Together meetings at which they will have the opportunity to network with past Supernova winners and hear from local experts about resources available to them throughout North Central Washington.

In the 2020 SBLC the Pateros Brewster Community Resource Center was among the four finalists for its Commercial Kitchen Project.

The SBLC is made possible through the support of sponsors and partners including Numerica Credit Union, The Economic Alliance, Washington State Microenterprise Association, and Enterprise for Equity.

Sponsorship opportunities are still available for the 2023 competition. For more information on sponsorship levels and online payment details, visit ncwedd.com online.

For more information and to apply, visit ncwedd.com.

About NCWEDD

The NCWEDD is a federally designated economic development district, and 501(c)(3) nonprofit, serving the NCW region covering Okanogan, Douglas, and Chelan counties and the Colville Confederated Tribes.

The NCWEDD is responsible for regional economic development strategy and planning and collaborates with various private and public agencies to accomplish this goal. It brings together the private and public sectors in a partnership necessary to provide a coordinated strategy and an ongoing economic development program for the region.

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