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The Launch Pad is a mixed use business incubator program empowering local, neighborhood and service-based businesses. Providing resources, education, and space with a focus on serving underserved and underrepresented communities in business.
Our Vision Statement - To help our clients achieve their goals of breaking into the market, securing investment or getting acquired. Our goal is to achieve a 90% success rate. We also intent to become the preferred brand for start-up of local, neighborhood and service based businesses.
Our Mission statement - To achieve our vision, we intend to ensure our clients are provided with a low-impact fee structure, great mentoring as well as have competent employees to help them achieve success faster than they would have done on their own.
Contact us today to become part of our powerful network of small business owners and entrepreneurs.
Would you to be your own boss? Have you ever dreamed of starting your own business? Don’t know what to do about your great business idea? If you have ever thought about these situations then you need our Entrepreneur Training Program.
Let our Entrepreneur Training Program help you achieve your dreams. Being an entrepreneur can be full of risks. These risks are minimized through drafting a business plan, knowing your competition, and successful marketing. All these and more can be found in our Entrepreneurship workshop.
THE LAUNCH PAD BUSINESS INCUBATOR, African American Economic Empowerment Pitch Competition (AAEEPC) is a business pitch competition. TEN entrepreneurs (or groups) will pitch an original business idea to a panel of business experts.
ABOUT THE AFRICAN AMERICAN ECONOMIC EMPOWERMENT PITCH COMPETITION:
THE LAUNCH PAD BUSINESS INCUBATOR, African American Economic Empowerment Pitch Competition (AAEEPC) is a business pitch competition. TEN entrepreneurs (or groups) will pitch an original business idea to a panel of business experts and an audience of entrepreneurs, small business owners, potential investors, students, business and community leaders Friday, February 24th, 2023, in JACKSON, MI.
· The Jesse Binga African American Economic Empowerment Prize: $2000
· The Madam CJ Walker Enterprising Women of Color Prize: $1500
· The Booker T Washington Black Men in Business Prize: $1500
· The James Weldon “Young, Black and Gifted” Prize: $500
APPLICATION AND REGISTRATION:
Space is limited to ten contestants, who will be selected from the pool of registrants by the AAEEPC Organizing Committee. The application is due February 12th. Applicants will be notified by February 19th of the AAEEPC Organizing Committee’s selections.
Any Launch Pad Entrepreneur Training Program Participant who has a startup company, or a great entrepreneurial idea is eligible to pitch to a panel of judges for the purposes of receiving feedback and potential prize money.
PITCH COMPETITION RULES:
1. Submissions may be entered as individuals or teams.
2. The maximum number of team members for a single pitch is limited to 3 persons.
3. Each individual or team may enter only one idea or concept.
4. Pitch competitors may participate on only one team.
5. Only the pitching individual or the pitching members of a team may pitch to the panel of judges or answer questions from the judges and/or audience
6. The AAEEPC is open ONLY to individuals who are members of The Launch Pad Business Incubator as of February 1st, 2023.
7. The AAEEPC is open ONLY to individuals who completed The Launch Pad Entrepreneur Training Program.
8. The pitched idea or concept must be the original work of the individual or team pitching it. Ideas and concepts deemed by the AAEEPC Organizing Committee to be deceptive, insincere, offensive, immoral, or unethical may be screened and disqualified.
9. Participants must be at least eighteen (18) years old, as of February 1st, 2023. Proof of date of birth will be required.
Ideas and concepts pitched must be in the start-up or early stage of development. Individuals or teams must disclose any funding already received at the time of registration. Ideas or concepts may already be funded before this competition by personal or family funds, small amounts of seed capital from outside investors, or modest amounts of funding stemming from institutional or research grants. In no case may an idea of concept be funded from any source for more than $100,000. The competition is limited to startup businesses with annual revenue of $100,000, or less.
The AAEEPC Organizing Committee has the sole discretion to determine which teams are invited to pitch. It may also disqualify and/or remove any individual or teams for any reason that it deems appropriate before and/or during the pitch competition for violation of these rules. All decisions regarding team participation in the pitch competition are final.
The Launch Pad Business Incubator and the African American Economic Empowerment Pitch Competition Organizing Committee reserve the right to disqualify any applicant or registrant who violates competition rules, engages in conduct unbecoming to The Launch Pad Business Incubator, or behaves in any manner that is not aligned with the mission and purpose of The Launch Pad Business Incubator.
1. Objective: The objective of the pitch is to simply define the idea or concept by explaining a product, service, or value proposition.
2. Pitch Application:
Team Contact Information: Include business name, participants name, address, email and telephone.
Executive Summary (limit 500 words)
Market Analysis (limit 250 words)
Description of Product/Service (limit 250 words)
Description of Marketing and Sales Strategy (limit 250 words)
Names of Team Members (list first and last name of team members)
The Pitch is summary of the idea or concept, i.e. the product or service. It’s content is up to the team. Some elements to consider in preparing your pitch include:
a. Description of Product or Service
b. Value Proposition – How will the product or service add value for customers?
c. Target Market Characteristics – Who will buy the product or service? How big is the target market?
d. Differentiation – How is the product or service different from existing products and services?
e. Competitive Advantage - What is the competitive advantage? (patent, algorithm, unique service model, etc.)
f. Revenue Model – How will the product or service generate revenue? (sales, subscription, advertisement, etc.)
g. Revenue Estimate – How long will it take to generate revenue and what sales revenue is expected
h. PowerPoint or slide presentations are not allowed. Contestants may display/share/show prototypes, samples, or posters. Materials may be distributed to the judges (but not to the audience) during the pitch.
4. Time: Five (5) minutes are allocated to each team’s pitch. Five (5) minutes are allocated to Q & A with the judges. In total, each individual or team pitching will have ten (10) minutes maximum; five (5) minutes to pitch the idea or concept and five (5) minutes to answer questions from judges and get valuable feedback. Time will begin when the presenter begins to speak.
5. Confidentiality: Confidentiality is not guaranteed in any way. Do not include confidential material in your submissions. The Launch Pad and AAEE Pitch Competition accept no responsibility for preventing other competitors, audience members, or judges, sponsors or others who see or hear a pitch competitor’s idea or materials from sharing the idea and/or materials. Nondisclosure Agreements (NDAs) and Covenants Not to Compete between a competitor and The Launch Pad or the AAEEPC Organizing Committee, judges and/or audience members are not permitted. Sharing your idea or concept may be deemed a public disclosure. It is the responsibility of applicants to consult with an attorney before entering the competition. The Launch Pad and AAEE Pitch Competition and its Organizers are not responsible for any confidentiality issues that may occur during the course of, or as a consequence of, the competition. Pitch Competition competitors agree that The Launch Pad incurs no liability from disputes arising therefrom.
6. Reproduction: The Launch Pad and AAEE Pitch Competition Organizers may take photographs and/or video of any materials used or made available by pitching individuals or teams during the competition for public relations purposes. Any content presented by a competitor should be considered public information disclosure. Competitors should carefully consider excluding any proprietary information or materials that the competitor feels is at risk of disclosure.
7. Prize Money: Prize money will be awarded and allocated in equal shares to each individual member of the winning team. The individual recipients of prize money will be responsible for the tax implications of their winnings. AAEE Pitch Competition prize money payments may be considered by the Internal Revenue Service as ordinary income to the individual(s) or team members receiving the prize money.
Contact: For any questions about the pitch, please contact us at ManyHandsCommunityServices@gmail.com.
Acknowledgement: Entrants acknowledge that by submitting the application to participate, they have consented to the rules of The Launch Pad’s African American Economic Empowerment Pitch Competition.