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STEMulus Center Hosting Business Idea Contest for Native American Entrepreneurs

June 7, 2016 -- The CNM STEMulus Center, with support from the W.K. Kellogg Foundation, will host the first business idea contest focused on Native American entrepreneurs. A kickoff event was held Wednesday, June 8, at the Indian Pueblo Cultural Center.
STEMulus Center Hosting Business Idea Contest for Native American Entrepreneurs

Jun 07, 2016

The competition will have two categories, including one for current students at any high school, college or university and one for community members. Entries can be submitted by teams or individuals. Entrants who meet basic qualifications will receive coaching on their business and pitch their ideas before a panel of judges made up of local business leaders.

Native American entrepreneurs can learn how to pitch their businesses at a workshop on Tuesday, July 26, from 2-4 p.m. at the CNM STEMulus Center in downtown Albuquerque. Business Idea Pitch Day will be Thursday, Aug. 4, from 8 a.m.-noon at the Indian Pueblo Cultural Center.

Winning teams and their business ideas will be celebrated at an awards ceremony at the Indian Pueblo Cultural Center on Thursday, Aug. 4 from 5-7 p.m.

Several prizes will be awarded including:

  • Grand Prize Winner will receive a cash prize of $500 to be used for business development. The grand prize winner will also have all fees covered to participate in the IGNITE Community Accelerator at no cost starting Aug. 18; have a three-month free membership to the FUSE Makerspace including one free class and two hours of free one-on-one production consulting; three months of free space at the FatPipe ABQ Coworking Space; and a two-day “Intro to QuickBooks Pro for Small Businesses” workshop offered by the Small Business Development Center.
  • Community Choice Award winner will have all fees covered to participate in the IGNITE Community Accelerate at no cost starting Aug. 18; two free classes in the FUSE Makerspace; and three months of free space for each team member at the FatPipe ABQ Coworking Space.
  • Student Category Prize. The student winner will receive $500 for future business development, an Apple iPad, business mentorship, networking for media coverage of business.

Business ideas will be judged on the overall feasibility and persuasiveness of the idea, potential for growth or overall societal benefit, clarity and development of the idea and feasibility of building and sustaining a competitive advantage.

To assist and support the budding entrepreneurs, CNM Ingenuity will offer business coaching services to prospective applicants to help with idea development, minimum viable product and target markets.