HOUSTON — An exciting opportunity is back for new business owners who could use a financial boost and other support.
Liftoff Houston is the City of Houston's annual business plan competition. This year, Capital One Bank will be giving out a total of $30,000 in cash prizes to three aspiring business owner.
Mayor Sylvester Turner said more than $240,000 has been granted since the competition began nearly nine ago.
"The impact of Houston Liftoff goes far beyond Pitch Day," Houston Office of Business Opportunity Director Marsha Murray said. "It also helps create jobs and strengthens our local economy."
It's more than a competition, it's a business literacy education program.
During the program, participants will attend several virtual workshops on business planning basics to raising capital. They'll also an orientation, mentorship sessions and information on resources available to small business through Houston Public Library and the city's Office of Business Opportunity.
Contestants will later pitch their refined business plans to a panel of judges on Pitch Day. Murray said Houston Liftoff is bringing back fan voting this year.
They will compete in the following three categories: Product, Service, and Innovation.
Each category winner will receive $10,000 toward starting their business.
Who can participate
These are the minimum eligibility requirements for the 8th annual Liftoff Houston business plan competition, according to the website.
- Must be in the start-up phase of your business which means you either must have a business idea or have a business in operation for less than one year.
- Must have revenue of less than $10,000.
- Must live within the City of Houston limits. Also, if you have a business location, it must be located within the City of Houston limits
How to apply
Go to www.Liftoffhouston.com to apply.
Step 1: Click "Apply."
Step 2: Click "Register" on the top right of this page to create an account. (Once you finish creating an account the website will send you a confirmation email to confirm that you have a working email.)
Step 2: Complete the "Eligibility Test" to determine the program you are eligible for.
Step 3: Complete an application either for the Liftoff Houston Start-Up Business Plan Competition or the Liftoff Houston Educational Pathway.
The application deadline is August 2 at 2 p.m.
If you have any questions about the process and would like to speak to someone, call the City of Houston Office of Business Opportunity. Representatives are available weekdays from 8 a.m. - 5 p.m.
If you want the knowledge, but don't want to compete
"If you aspire to open your own business but are not able to compete, this program can still help you get there," Murray said.
You can join the 2021 Liftoff Houston Educational Pathway.
There are no requirement to register and you'll receive a certificate of completion at the end of the program. Plus, finishing the program makes you eligible for the HCC Business Plan Competition.
Of course, there is no cash prize, put the information you is invaluable.