Lehigh University has teamed up with Factory LLC to launch this year’s StartUp Lehigh Valley, a pitch competition for entrepreneurs.
Now celebrating its fifth year, the competition attracts submissions from around the region – and the country.
This year’s competition will be held at Factory’s headquarters in South Bethlehem from 6:30-8 p.m. Oct. 25, and will also be broadcast and livestreamed on 69 WFMZ-TV. Submissions are now being accepted.
In a Shark Tank-style event designed to showcase startup companies in the Lehigh Valley, throughout Pennsylvania and beyond, seven finalists will pitch their products and businesses to a panel of judges in front of a live and virtual audience. More than $30,000 in prize money is up for grabs, along with essential resources for startup businesses.
“The StartUp Lehigh Valley pitch competition is designed to help grow and showcase the entrepreneurship that’s already happening in the valley and getting the community excited about supporting these startups,” said Richard Thompson, founder of Factory. “We are thrilled to be partnering with Lehigh University and would like to thank them for providing vital resources to our local entrepreneurs year-round. We encourage all college and university students to participate along with residents and professionals living and working in the Lehigh Valley and beyond.
“We considered dozens of cities across the U.S. before building our innovation and scaleup facility, and we found exactly what we were looking for here in the Lehigh Valley,” Thompson continued. “The Lehigh Valley has easy access to major airports and cities, a competitive talent pool, top-tier universities, and an exploding logistics industry. It’s perfectly poised to become a hotbed for innovation, and this competition is all about building that entrepreneurial community. This event is helping to develop the startup ecosystem right here in the Lehigh Valley.”
The grand prize winner will take home $20,000, with two runners up earning $3,000 and $2,000 respectively. The live and virtual audience will also vote for the winner of a $1,000 Audience Choice award. Entrepreneurs have until Sept. 22 to apply and can find all the details at startuplehighvalley.com.
PSU-LV LaunchBox will award three $500 boost awards and provide comprehensive startup resources ranging from free legal services to access to expert business advisors.
The Ben Franklin Technology Partners of Northeastern Pennsylvania will present a Ben Franklin Technology Partners award to the top early-stage technology-based firm. This winner, which may be the grand prize winner or another competitor, will receive a $5,000 Ben Franklin Business and Technical Assistance grant for a specific project that is crucial to the company’s development.
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