MCCC extends application deadline
Entrepreneurs now have until March 15
Aspiring and new entrepreneurs have a little bit of extra time to prepare their application materials for Montgomery County Community College’s 2019 Karen A. Stout StartUp Accelerator Fund competition.
The competition, now in its fourth year, awards capital to fledgling businesses — capital the businesses need to get to the next level of their business development. The fund was established in the name of MCCC President Emeritus Karen A. Stout, and provides grants ranging from $1,000 to $25,000 to help selected entrepreneurs launch or grow their ventures.
Entrepreneurs have two extra weeks — until March 15 – to submit their business plans. Selected participants will have the opportunity to “pitch” their businesses to a review panel in April — where they will outline their businesses and the reasons why they should receive a portion of the available funding.
Plans submitted for funding consideration should be located in or have the ability to impact Montgomery County of the surrounding Philadelphia region, according to the college’s Accelerator website.
There are also several key elements that should be addressed in the application including: market feasibility; competition; value proposition; financial feasibility; ability to execute; launch/status; potential impact; and affinity category (whether the business is military veteran-, minority-, women-,
and alumni-owned).
To date, more than $100,000 in funding has been awarded to 14 businesses through the Accelerator fund. In 2018, six finalists made their pitches to a review panel. Five of those businesses each received $5,000: Carvertise of Wilmington, Del.; Eoko Inc., of Plymouth Meeting; Mighty Writers of Philadelphia; SmarTECHS LLC of Conshohocken; and Trisonus of Philadelphia.
The initial pool of 29 applicants for the 2018 competition was the highest number to apply since the program was launched in 2016.
“The funding from the Accelerator Competition helped to fund some key equipment we needed for our business,” Greg Star, founding partner of Carvertise said in a press release. “Additionally, we had the opportunity to meet and network with other entrepreneurs.”
Carvertise works to get drivers to agree to place an ad on their car as a means to make some extra money, while helping advertisers take advantage of an underutilized medium, according to its website.
The college held a kickoff in October for this latest round of competition. That event featured Richard Thompson, founder and former CEO of American Italian Pasta Co., The Meow Mix Co. and Freshpet.
“You have to be all in to be a successful entrepreneur,” Thompson told the students and visitors at that event. “You can’t leave bridges behind you that will allow you to retreat. You need to move forward with your plans.”
Grant recipients work with the MCCC’s Center for Entrepreneurial Studies to set key milestones and deliverables in the start-up of their businesses and to monitor their progress and outcomes. MCCC’s Foundation and the College’s Division of Business and Entrepreneurial Initiatives oversee the Accelerator Fund.
To apply, interested entrepreneurs can complete the application and submit their proposed business plans by visiting mc3.edu/ accelerator.
For more information about Montgomery County Community College, visit www.mc3.edu
“The funding from the Accelerator Competition helped to fund some key equipment we needed for our business. Additionally, we had the opportunity to meet and network with other entrepreneurs.” — Greg Star, founding partner, Carvertise