Houston, TX

Liftoff Houston Startup Business Plan Competition offers $10K prize for winners

Jason Martinez

Mayor Sylvester Turner, City of HoustonWikimedia Commons

HOUSTON, TX — Houston Mayor Sylvester Turner has officially kicked off the City of Houston’s 2021 Liftoff Houston Startup Business Plan Competition or Liftoff Houston on July 7. Applications for the competition are open from July 7 to August 2.

In a press release, Mayor Turner said, “I am excited to see what business ideas and concepts this year’s contestants will bring to the table.”

He also added, “We are grateful for Capital One Bank’s commitment to helping Houstonians make their small business dreams come true. I encourage all aspiring entrepreneurs not to miss out on this wonderful opportunity that will help move our economy and city forward.”

Aligned with Liftoff Houston’s purpose, people in Houston will be able to start their own businesses through a series of coaching and workshops sessions taking place from August to October.

Winners of the competition are divided into three categories, which are Service, Product, and Innovation. Each winner will earn $10,000 in seed money from Capital One Bank.

Meanwhile, Houston Public Library Director Dr. Rhea Lawson commented, “Startup businesses play a critical role in our city’s economic future.”

“The Houston Public Library is pleased to support their development by providing access to free and vital business and investment reference resources, market research, state of the art technology equipment with high-speed Wi-Fi, and other valuable services such as fax and copy services and space for meetings and trainings,” she continued.

The competition covers several topics, including business plan fundamentals, marketing, raising capital and information about free City of Houston business resources.

They also have to develop a business plan, which will be evaluated by Capital One Bank and SCORE Houston’s mentors.

Nine finalists will be selected at the end of the competition. They will present their business plans to a panel of judges on Pitch Day, scheduled for Saturday, November 6. One winner and a fan favorite from each will be chosen afterward.

To qualify as a contestant for Liftoff Houston, all applicants must reside and have their business operated within the City of Houston.

Their business should be for-profit, in operation for less than one year, and they have verifiable revenue that does not exceed $10,000.

Since its inception, more than 12,623 people in Houston have taken part in Liftoff Houston, with more than $240,000 in prize money courtesy of Capital One Bank.

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Houston, TX

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