Applications for the 8th Annual Liftoff Houston, the City of Houston’s yearly business plan competition sponsored by Capital One Bank and administered by the Houston Public Library and the Office of Business Opportunity, are now live.
This competition, launched on July 8th and active through November 7th, grants participants access to tools, resources and support to help them develop successful business plans for their startups. On Pitch Day, winners are chosen in three categories: Service, Product and Innovation. Each winner will receive $10,000 in seed money from Capital One Bank.
There are a few qualifications potential contestants must meet to participate in Liftoff Houston. Applicants must live and operate their business within the Houston city limits. It must be in operation for less than one year and have revenue less than $10,000.
Leading up to Pitch Day, participants will attend workshops covering topics such as business plan basics, raising capital, marketing and information about City of Houston business resources.
This year’s competition will feature new elements that previous competitions did not include. One being that all events will be held virtually. Also new this year is the Liftoff Houston Educational Pathway. This is an opportunity for participants who do not meet the competition qualifications to still take advantage of the business education opportunities provided by the program. Participants who attend all required workshops under the educational pathway will receive a certificate of completion.
There is no limit to the types of business ideas participants can present at Liftoff Houston. Past winners have included businesses in areas such retail, merchandise, labor, software, hardware, tourism, education, technology and more.
“Whether your business plan is based on a product, service or innovation, Liftoff Houston will provide you with invaluable information about how to master the fundamentals you need for your company to succeed. Even if you do not qualify as a contestant, we invite you to take full advantage of the program’s free Educational Pathway,” said Marsha Murray, director of the Office of Business Opportunity.
Though the City of Houston, and the world, are experiencing difficult social and economical time, Dr. Rhea Brown Lawson, director of the Houston Public Library, expressed her enthusiasm about the additional opportunities that this year’s virtual platform will bring to participants.
“Despite the recent challenges in both the health and social justice spaces, I believe that the most creative and innovative business ideas are imagined during trying times,” Lawson said. “I look forward to the exciting business plans that will evolve and be presented at this year’s program.”
Application deadline for Liftoff Houston is 11:59 p.m. on Monday, Aug. 10. Orientation is required for all contestants and those who would like to participate in the Educational Pathway. The application can be accessed at www.liftoffhouston.smapply.org. If there are any questions, please contact us at 832-393-0954 or e-mail liftoffhouston@houstontx.gov for more information. Follow us @LiftoffHouston on Twitter and Facebook for the latest updates.
