Business competition to distribute $85,000 in prize money. Apply by June 30

Continuing its mission to develop and support small businesses, the nonprofit, 1Team 1Dream, is sponsoring the annual “Hands Up Lake County” Small Business Competition. There is still time to apply by deadline.

Local small businesses and entrepreneurs are encouraged to apply, including prior year applicants. Only past winners (finalists) of the small business competition are excluded from the 2022 competition.

In its 3rd year, the competition will award $85,000 including a new category for the best Start Up Business.

The process involves an initial application screening to select 12 businesses and two alternates that will proceed to the second phase of the competition. In the second phase applicants will learn and apply the basic tenants of building a sustainable business plan in a 1-day business training workshop.

The workshop is followed by a mini competition where six small businesses and one alternate will be selected by a panel of local business leaders to proceed to the final competition.

In the final stage of the competition, awards will be decided by a select panel of judges comprised of leaders in the business industry. All competitors will receive an award, ranging from $25,000 for 1st prize to $5,000 for 5th prize. One additional award of $10,000 will be issued to a new small business startup. The final competition is on November 5.

For more information about the process and to apply online, go to the website at www.1team1dream. Apply now — late applications will not be accepted.