PROVIDENCE – How would you use $10,000 to grow your business? What types of challenges have you faced and how did you overcome those hurdles? What piece of advice would you give to an entrepreneur looking to launch a startup?
The best set of answers to those questions from a local entrepreneur will win $10,000 from HarborOne Bank in its eighth annual Small Business Pitch Contest. The contest aims to support the development of small businesses throughout Rhode Island and Massachusetts.
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HarborOne, based in Brockton, Mass., will accept entries through August 31, 2023, for this year’s top prize. In addition to answering the three key questions, entrants are required to submit a business overview, financials and information about customer demographics and projected job creation.
An applicant does not have to be a customer of HarborOne to participate but must operate their business in Rhode Island or Massachusetts. Last year, the bank received 50 entries for the prize.
“HarborOne’s annual Small Business Pitch Contest is a terrific platform to provide visibility and financial support to dynamic, growing small businesses. It has also become a regional celebration of entrepreneurship,” said Joseph Casey, CEO and president of HarborOne Bank. “The energy, drive and creativity these businesses bring to their pitches is truly impressive.”
A panel of business experts will screen the initial entries and choose up to eight applicants to pitch their ideas. Applicants will be notified no later than Sept. 12. Presentations will be limited to five minutes. Finalists also will take part in a Q&A with the judging panel. The committee will announce the winner at HarborOne Bank’s Mansfield Banking Center on Sept. 28.
First place and the $10,000 prize last year went to Mike and Matt Alksninis, owners of Alskinny Brothers Health Foods in Quincy, Mass. The brothers created a granola marketed for the “everyday athlete.” The Alksninis brothers won the top prize for their well-thought-out business and marketing plan, as well as potential opportunities in the health food space.
First place in 2021 went to Azure Cygler, owner of Rhody Wild Sea Gardens in Narragansett, who is “growing kelp for climate change.” In 2020, the winners were sisters Mary Lattouf and Nada Lattouf of Boston’s Lulu Green Café Bakery Juice Bar, which creates all-natural vegetarian food and cold-pressed juices with vibrant flavors.
