Find Nonprofit and Small Business Grants

Advance Search

Only Available for Paid Subscribers
Clear Filters
Search Filters

Rhode Island Business Competition

Opportunity for Rhode Island Entrepreneurs to Compete for
Cash Awards and In-Kind Support to Develop Businesses

Agency Type:

Foundation / Corporation

Funding Source:

Add to My Calendar 

Rhode Island Business Competition

Conf. Date:

03/04/21

LOI Date:

03/29/21

Deadline Date:

04/13/21 5:00 PM ET

Description:

Request a Grant Writer

Opportunity for Rhode Island entrepreneurs to compete for cash awards and in-kind support to develop businesses. Applicants are required to submit an application prior to a full business plan. In addition to the cash award, applicants may also receive access to mentoring and co-working spaces, as well as opportunities to participate for further competitions.

The Rhode Island Business Competition has been organized to promote entrepreneurship and the development of start-up and early-stage companies in Rhode Island by encouraging submission of plans of original business concepts that will lead to the development of new growth businesses.

Rules:

  1. Business plans may be submitted by individuals or by teams, but all applicants must be 18 years of age or older.
  2. There is no limit on the number of people on a team.
  3. Each unique business plan must be submitted in one track.
  4. Any area of commercial endeavor is valid.
  5. All applications must be the original work of those making the submission.
  6. Applications must describe a new business or an early stage company.
  7. All semi-finalists must agree that, should they be chosen as a finalist or winner, they will use prize winnings to establish or continue operations that employ people in Rhode Island.
  8. Existing businesses may propose a new business that would have operations in Rhode Island.

Applicants may submit an idea for early stage, or seed stage, company. This typically is a business proposal at the inventor stage where there is an idea, a concept, or even a product, but little or no income.

No industry is favored over any other. The competition has received applications for many industries, including data management, food & beverage, education, energy, entertainment, green technology, health & nutrition, hospitality, insurance, maritime operations, med-tech, and software.

The judges focus on originality, scalability, and likelihood of success when winnowing down applicants. Scalability refers to breadth of business. For example, an application to develop a storefront cafe will likely not be viewed favorably. However, a proposal to create a franchised network of storefront cafes will likely garner a more positive reception since it has the potential to create more jobs.

GrantWatch ID#:

GrantWatch ID#: 178886

Estimated Total Program Funding:

$150,000

Number of Grants:

One winner and three finalists

Estimated Size of Grant:

Prizes consisting of cash and in-kind services, with a total value of at least $150,000, will be awarded to a winner and three finalists in the 2021 Rhode Island Business Competition.

Also, everyone who submits a completed application to the 2021 Competition will receive two consecutive months of free co-working space for their team at Sprout Coworking in the Rising Sun Mills campus in Providence. Free parking and access to meeting space is included.

And all semi-finalists will receive free mentoring services from RIHub.

The bonus winner will automatically qualify as a semi-finalist in Get Started Rhode Island 2021, which will award prizes valued at $50,000.

In addition, finalists will have the opportunity to enter round two of judging in the highly competitive MassChallenge accelerator program -- and be one step closer to potentially joining the MassChallenge Rhode Island cohort.

Additional Eligibility Criteria:

Applicants, 18 years of age or older may apply to the Rhode Island Business Competition.

While applicants do not have to be Rhode Island residents, to be selected as a semi-finalist, applicants must agree to establish or continue business operations in Rhode Island should they be named a finalist or winner.

Pre-proposal Conference:

Workshop: Business Plan Development
Dr. Ezenwayi Amaechi is an Assistant Professor of Entrepreneurship in the Management Department at Johnson & Wales University, where she also serves as the Faculty Consultant at the Entrepreneurship (eCenter) Center. In this business planning workshop, she will provide attendees with resources and walk them through the creation of an investor-ready business plan.
- JAN 7, 2021: Sign up at https://www.eventbrite.com/e/rhode-island-business-competition-tickets-133116594317

Workshop: Define the Customer
A panel of experienced entrepreneurs explain how to define a target market and the best way to promote your product or service.
- Feb. 4, 2021

Workshop: Find Those Funds
Top business builders and investors provide valuable tips and insights on how to get early-stage funding.
- March 4, 2021

More information:
https://ri-business.com/about/news-events

Pre-Application Information:

Application and Judging Schedule:
- To participate in the Rhode Island Business Competition, applicants must complete and submit an online application by 5 p.m. Eastern time (U.S.) on March 29, 2021.
- After reviewing the applications, the judges will invite semi-finalists from each track to submit complete business plans by April 13, 2021 at noon.
- Semi-finalists will be selected from each track and will be invited to make a 5-minute presentation to the judges on April 20, 2021.
- Finalists will be selected from semi-finalists and invited to a 25-minute meeting with the judges on April 27, 2021.
- May 6, 2021: Awards Ceremony: Finalists present to a public audience and the winners are announced.

Business Plan Guidelines:
https://ri-business.com/about/preparing-your-written-plan

FAQs:
https://ri-business.com/about/faqs

Events:
https://ri-business.com/about/news-events

Applying to the Competition:
https://ri-business.com/about/applying-to-the-competition

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

The online application will be available January 6, 2021 at:
https://ri-business.com/about/how-to-apply

Email inquiries to:
info@ri-business.com

Send mail inquiries to:
Rhode Island Business Competition
c/o Business Development Company
40 Westminster St., Ste. 702
Providence, RI 02903

URL for Full Text (RFP):

Geographic Focus:

USA: Rhode Island

Suggested Grants:

Fundraising and Publicity Opportunity for USA, Canada, and International Nonprofits for Cult...

Deadline Ongoing

Fundraising opportunity for USA, Canada, and International nonprofit organizations to host a jazz concert held in honor of their organization or cause. Applicants must contact the funding source prior to applying. In addition to funds raised through concert ticket sales

GrantWatch ID#: 123735

Grants to USA Nonprofits to Address the Climate Crisis and Reduce Inequality

Deadline Ongoing

Grants to USA nonprofit organizations to reduce social inequality and promote solutions to the climate crisis. Eligible programs will address the areas of racial and economic justice, corporate and political accountability; voice, creativity, and culture; and an inclusi

GrantWatch ID#: 123756

Grants to USA Nonprofits to Protect Natural Resources

Deadline Ongoing

Grants to USA nonprofit organizations to protect natural resources on land and water in locations around the world. Funding is intended to ensure that activities to acquire metals, gemstones, and corals for design use do not have an adverse impact on the area of origin.

GrantWatch ID#: 126162

Grants to USA and Canada Nonprofits for Projects to Protect Wildlife and Natural Habitats

Deadline 05/01/21

Grants of up to $3,000 to USA and Canada nonprofit organizations for projects to protect wildlife and natural habitats. Funding is intended for campaigns to save specific species and ecosystems. Eligible activities include public policy work, litigation, advocacy, and d

GrantWatch ID#: 129644

Grants to Rhode Island Nonprofits to Provide Community Services

Deadline Ongoing

Grants to Rhode Island nonprofit organizations to provide community services. Eligible organizations are those that address the areas of community and public affairs; arts and culture; health; education; and basic needs and community development. The mission of the Foun

GrantWatch ID#: 130857

Grants to USA and Canada Low-Income Individuals and Families for Financial Assistance

Deadline Ongoing

Grants to USA and Canada individuals and families with low-income for financial assistance. Types of assistance include financial support to offset emergency expenses or to cover the cost of regular monthly bills. Funding is intended for workers and households that are

GrantWatch ID#: 131400

Grants to USA Nonprofits, Agencies and IHEs for Projects to Reduce Serious Neighborhood Crime

Deadline 04/26/21

Grants to USA nonprofits, agencies, Tribes, and IHEs for community-oriented programs to reduce serious neighborhood crime. Applicants are advised to complete required registrations well in advance of the deadline. Funding is intended for cooperative projects with law en

GrantWatch ID#: 132213

Grant to a USA, Canada, or International Early-Career Psychologist for Child Psychology Rese...

Deadline 06/15/21

Grant of $9,000 to a USA, Canada, or International early-career psychologist for child psychology research projects. The purpose of the program is for research and demonstration projects that foster an understanding of the relationship between self-identity and scholast

GrantWatch ID#: 132694

Grants to USA Nonprofits and Agencies for Community Improvement Initiatives

Deadline Ongoing

Grants of $25,000 to USA nonprofit organizations, government entities, educational institutions, and volunteer fire companies for community benefit projects. Funding is intended to support a wide range of impactful and sustainable initiatives that meet community needs.

GrantWatch ID#: 132986

Grants to USA Nonprofits and Agencies in Eligible Regions to Promote Cancer Detection and Pr...

Deadline 04/21/21

Grants of $25,000 to USA and Territories nonprofit organizations and government agencies in eligible regions for programs and projects addressing cancer prevention and early detection. Funding is intended to provide the resources needed to fund vital community-level act

GrantWatch ID#: 133776