New Jersey entrepreneurs seeking capital to start a venture have one additional source open to them thanks to Rising Tide Capital (RTC), a Jersey City based not for profit that assists entrepreneurs in distressed communities. RTC’s Start Something Challenge offers a $10,000 grand prize to the winner of its statewide business plan competition.
The winner will be chosen on July 28th at a pitch competition to be held at St. Peter’s University in Jersey City. The ten competing finalists were decided by social media campaigns conducted by the thirty semi-finalists announced at the competition’s kickoff on July 7th. . The event was held at the recently opened Newark Venture Partners’ accelerator located in the Audible building in Newark.
“Created with the intent of what you see before you, this community of builders, entrepreneurs, bankers, and volunteers gather together to build a better economy for our communities,” stated Alfa Demmellash, CEO and Co-founder of RTC. in her opening remarks at the kickoff.
“We are deeply convicted that entrepreneurship when channeled can be a transformative force in the lives of people in their homes and their communities because, as you all know, we are trying to make sure we all have well-paying jobs…,” Demmellash explained. With this in mind RTC encourages individuals to be entrepreneurial and “Start something”!
To both publicize the competition and teach entrepreneurs how to promote their venture, RTC made social media a major component of the Challenge. The thirty semi-finalists’ social media campaigns included a 30 second commercial to promote their venture idea that generated great visibility both for their venture, RTC and the competition.
“We needed a way to enable entrepreneurs…to boldly share their ideas on this new world of social media and activate their social networks; their family, their friends and people who are unknown to them to follow them. To see what their ideas are about because that has become a critical part of doing business and growing a business in this world today…Your visibility matters,” summed up Demmellash.
The Challenge drew in 109 entrants from 39 cities across New Jersey.
The ten top finalists will participate in a finals pitch contest in front of accomplished business executives and entrepreneurs. They will be included in a showcase event in New York City as part of the 5th Annual Start Something Champions Gala on November 1.
The ten winners announced on Facebook on July 21st are:
Public Social and Health:
Racquel Clarke, Teaneck -Fit Fund
Pamela Roundtree, Jersey City – NewBody.NewMind.NewLiving
Other Professional Services:
Djenaba Johnson-Jones, Jersey City – Hudson Kitchen
Ingri Lucia Torello, Rutherford – Ingri’s Home Service
Food:
Denise Woodard, Jersey City – Vivi’s Life
Charnelle Bain, West Orange- Simply Elegant Events
Fashion and Beauty:
Tina Tang, Jersey City – Iron Strong Jewelry
Nia Allen-Reid, Jersey City – Myrtle&Flossie
Arts, Crafts and Entertainment:
Natasha Dzurny, Jersey City – TechnoChic: Technology-Infused DIY Craft Kits
Vernesa Everett, Newark – Velvet Rope Boudoir Photography
Scott Blow, Interim CEO/President of the Newark Community Development Corporation, spoke at the kickoff on behalf of the deputy mayor of Newark Adofo-Wilson about the importance of entrepreneurs to local communities.
“We are all collaborating to provide the support that the city needs, that our citizens need and that our entrepreneurs need in order to make the city better and increase their ability to create jobs, employment, and create capital and equity for the citizens of Newark,” stated Blow.
In line with this collaboration, RTC has a growing role in Newark’s entrepreneurial ecosystem via its services and training programs for the recently launched community storefront program that includes retail business incubators. As explained by Blow, these incubators are intended to address the needs of the wards in Newark, expanding the focus on entrepreneurship from downtown Newark, to the broader Newark community.
