1ST50K is looking for innovative technologies, products, or services, driven by scalable business models with regional, national or international impact. They seek to attract entrepreneurs who are already located in Southeast Missouri and West Kentucky OR are willing to relocate here. Basing your business in Cape Girardeau, Missouri or Paducah, Kentucky is a prerequisite for receiving a grant. ST50K Startup Competition is an industry-agnostic competition. Their focus is on supporting businesses that are innovative and scalable, regardless of the industry.
The deadline to submit an application to the program is May 22nd 2022. Teams can apply by visiting
https://www.codefiworks.com/1st50k.
Applications must be completed fully and teams must agree to locate to Cape Girardeau, Missouri or Paducah, Kentucky for at least one year if selected as a grant recipient to be eligible.
Eligible applications are entered into a round where the initial reviewing is completed by three to five of our judges. The pool is narrowed for Zoom video call interviews and from there down to a group that is selected by our competition committee to be invited to Pitch Day in late July.
The committee bases their decisions on the innovation of the product, technology, or service; product-market fit; the scalability of the business model; the total impact; qualities and coach ability of the team; well-understood and defined problem; and 1ST50K impact.
The pitches are slide deck presentations to a group of 10-15 individuals, closed to the public. Each applicant will have 30 minutes in total – 10 minute pitch and 20 minutes of Q&A.; The committee deliberates, completes their due diligence, and awardees are typically announced within two weeks.
Applicants not selected as awardees from one round may use the feedback they have received to reapply for the next.