News

Best idea to help kids will win $10,000

By Bill Moss, Published: January 1, 2014

A business that has a great idea that would positively impact kids in Henderson County could win $10,000 if the idea is chosen in a competition.

The Children & Family Resource Center is looking for an exceptional business idea that can positively impact the lives of kids living in Henderson County.
Entrepreneurs and business owners may submit their concept, along with a YouTube video pitch no more than three minutes long, to the Promise Competition through Jan. 31.
A review board of local business owners, advisors and financial advisors will narrow the applications down to five. The five finalists will receive notification by Feb. 14, giving them two weeks to prepare for a final live pitch on March 1 at Speak Out 2014, a Children & Family Resource Center event to focus on the needs of youth in the county. A live vote by text voting and review board comments will determine the Promise Competition winner.

Eligibility and Criteria
To participate in the Promise Competition, applicants must be a resident of or have an existing business based in Henderson County. The contest is open to people who already have an existing business looking to expand or to people who just have a great idea. The business plans must involve strategies that address four of the five promises shown to positively impact children.
Applications must include an executive summary of the business, including a description of the company or big idea, the four promises that the idea will address, competitive advantage, market analysis, financial highlights and management team. In addition, a written business plan with detailed information about the idea or product proposed, key financial data, customer definition, and an overview of how funds will be used is also required. Finally, all applicants must submit a YouTube video that delivers their best pitch. "Video production should not be a cost-prohibitive barrier to entry: homemade, smart phone produced videos are encouraged," said Erica Allison, CEO of Allison Development Group, the marketing firm for the Promise Competition, the Five Promises campaign and the March 1 Speak Out event. Overly produced videos will not be given special consideration.
"Videos longer than three minutes will disqualify the applicant," said Allison. "We want people to deliver a highly focused pitch."

The Five Promises
Based on highly regarded research from the National Academy of Science's report on Community Programs to Promote Youth Development among others, the Promise Competition is based on delivery of at least four of five important promises to children. The promises are: Be a Caring Adult, Provide Safe Places, Provide A Healthy Start, Deliver an Effective Education, and Provide Opportunities to Serve. Research shows that children who receive four of the five promises are significantly more likely to achieve academic success, avoid violence and become involved in their communities.
"It became clear to us that in order to really make a long term impact on children, we had to engage the business community and show the connection between having a great place to raise kids and having an equally great place to build a business," said Elisha Freeman, executive director of the Children & Family Resource Center. "The Promise Competition was a way for us to deliver on our promises." According to ReadyNation, a business led initiative to increase graduation rates and strengthen
Applications must be sent via email by Jan. 31 to PromiseBiz@5promisesHC.org. Applicants should upload their videos to YouTube and send a public link along with their proposal, in order to be considered for the competition.
The following leaders have agreed to serve on the Promise Competition Review Board: Nicola Barksdale, VP, First Citizens Bank; John Edwards, Ed.D, retired schools superintendent and former SCORE adviser; Gary Heisey, director of the Small Business Center at Blue Ridge Community College; Dr. David LaMond, Medical Director and CEO for Blue Sky MD/LaMond Family Medicine and an Inc. Magazine 5000 business; and Bart Salvaggio, business owner and CFRC Board member. The review board members will review applications and make recommendations for the final five applicants, as well as vote on their choice for the Promise Competition winner.
The five finalists are expected to attend the live event at Blue Ridge Community College on March 1 and present their business idea to the audience. Mentors will work with these finalists to prepare their presentation. The winner will be chosen by a combination of review board input and live audience vote that day. The finalists will be given space to exhibit their plans on the virtual conference platform, launching Feb. 1, and at the live event on March 1. Applicants are encouraged to use social media to gather "likes" and popular votes, and bring their supporters to the live event on March 1.
For more information, visit 5PromisesHC.org or call 698-0674. Questions can also be sent via email to PromiseBiz@5PromisesHC.org.