Question 1

Do I need to have an established business to attend?

Accepted Answer

Yes. You need to have been in business with an EIN and registered name for a full three years minimum.

Question 2

How will the pitch contestants be selected?

Accepted Answer

Pitch competition participants will be selected randomly by WomenVenture.

Question 3

How many contestants will there be?

Accepted Answer

We will select five to participate in the pitch competition.

Question 4

How will the winner be selected?

Accepted Answer

The pitch competition will be selected by judges (representatives at the resource tables) on the event day.

Question 5

What criteria will be used to judge the pitches?

Accepted Answer

Pitches will be judged on: 1) clarity: did you say your business name, did you complete your pitch within the 3-minute time limit; 2) Description of product or services, 3) Why do you deserve to win and what would you do with $1000? 4) presentation, did you represent your brand?

Question 6

How long will I have to give my pitch?

Accepted Answer

You will have three minutes.

Question 7

Will the time limit be enforced?   Yes.

Accepted Answer

Yes.

Question 8

What should my pitch entail?

Accepted Answer

Pitches will be judged on: 1) clarity: did you say your business name, did you complete your pitch within the 3-minute time limit; 2) Description of product or services, 3) Why do you deserve to win and what would you do with $1000? 4) presentation, did you represent your brand?

Question 9

Who is judging the pitch competition?

Accepted Answer

The resource table representatives from MEDA, Groove Capital, Center for Economic Inclusion, US Small Business Administration, Neighborhood Development Center, Huntington Bank and WomenVenture.

Question 10

Can I provide handouts, PowerPoints, or any other materials?

Accepted Answer

The pitch presentation is expected to be exclusively verbal.

Question 11

Are there any specific rules for pitch competition?

Accepted Answer

You are allotted 3 minutes to communicate details about your business, services or products, and outline your intentions for the $1000 prize grant. This presentation must be verbal, akin to an elevator pitch, and does not permit the use of handouts, videos, or PowerPoint presentations.

Question 12

How many winners will be selected?

Accepted Answer

One winner will be selected.

Question 13

What if I am selected to be in the pitch competition and decide that I no longer want to participate

Accepted Answer

If you are selected for the pitch competition and no longer can or want to participate, please let us know ASAP but not later than within 7 days of the event so we can provide the opportunity to another entrepreneur.

Question 14

Will there be an opportunity to receive feedback on my pitch?

Accepted Answer

Our Resource table representatives will each have scored the presentations. We will email the scorecards to each entrepreneur who presents their pitch within a week of the event.

Question 15

What if I opt out and then change my mind and want to participate?

Accepted Answer

Once you opt out you cannot opt in again.

Question 16

Are there any tax implications for me?

Accepted Answer

Please consult with your tax professional regarding the implications for your business.

Question 17

Will the grant be paid out to me or my business?

Accepted Answer

Your business must be registered with the State of Minnesota’s Secretary of State office. The award will be paid to your business account.

Question 18

What forms do I need to complete to receive the grant?

Accepted Answer

IRS Form W-9

ACH form and a copy of a voided check where funds will be deposited

Question 19

When will the winner receive the grant?

Accepted Answer

The winner will receive the grant within 2 weeks of submitting their IRS W9 and ACH bank information.

Question 20

Are there any stipulations, restrictions or reporting requirements for the prize grant?

Accepted Answer

WomenVenture does not impose any reporting obligations on the utilization of the grant prize. It is advisable to seek guidance from your accountant regarding the proper accounting procedures for this grant.

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