InnovateHER is a cross-cutting prize competition that provides an opportunity for entrepreneurs to showcase innovative products or services that help impact and empower the lives of women and families.
LABIC is hosting a LIVE pitch competition on June 2nd at The Creative House in Downtown Inglewood. Special DJ Host, dj.shErOck* and open bar sponsored by Arman Vodka and Gala Unlimited! To attend, RSVP below!
For information on how to apply, please see below.
Subject of Challenge
The U.S. Small Business Administration (SBA) is looking for innovative products and services that help impact and empower the lives of women and families. Our workforce looks very different from 50 years ago. Women now make up nearly half of the labor force and play a critical role in our nation’s economic prosperity. Most children live in households where all parents work. And as our population ages, families are increasingly caring for aging parents while balancing the needs of work and home. As the demands on women and families grow, the need for products and services that address these unique challenges increases. This Challenge will provide a platform to fulfill that need. Contestants must develop a product or service or technology that meets the following three Challenge criteria:
- Has a measurable impact on the lives of women and families (30%);
- Has the potential for commercialization (40%); and
- Fills a need in the marketplace (30%).
Check out past winners here.
Eligibility
Participants must be at least 18 years of age, U.S. citizens or permanent residents, and meet other requirements as defined in the Competition Rules.
How to Participate
As an InnovateHER host organization, LABIC has an open call for applications. LABIC will select a group of finalists to pitch before a panel of judges and live audience on June 2nd. The entrepreneur that the judges select to be the local winner will advance to the semi-final round. From the pool of semifinalists, SBA will select up to 10 finalists who will be invited to the National InnovateHER: Innovating for Women Business Challenge to be held in mid-2017. The finalists will pitch their products and ideas to a panel of expert judges and compete for up to $70,000 in prize money.
- 1st Place - $40,000
- 2nd Place - $20,000
- 3rd Place - $10,000
Competition rules and other guidelines are available here.
To Apply
Please complete the application below and send a business plan covering the proposed product or service and satisfying the Challenge criteria identified by SBA to lablackinvestorsclub@gmail.com.
The business plan can be in any format, including Powerpoint, financial model, Word document, etc., that best portrays your company's operations and future plans.
