Seed Capital Pitch Competition
Transform Your Business Vision into Reality
Welcome to the Seed Capital Pitch Competition, where you can compete, grow, connect, and showcase your innovation on a grand stage. As part of the Good Soil Forum presented by Wells Fargo, this competition offers significant funding and expert mentorship to fuel the entrepreneurial spirit.
Why You Should Enter
Compete for a Grand Prize Pool
Empowerment Through Significant Funding
Engage in the competition for a chance to win from a prize pool totaling $500,000, including a grand prize of $200,000 designed to enhance your business trajectory significantly.
Access to Industry Experts
Expert Guidance and Professional Exposure
Receive invaluable feedback and guidance from a panel of seasoned investors and industry leaders keen to see you succeed.
Community Building
Robust Networking Opportunities
Connect with a network of like-minded entrepreneurs, potential investors, and business mentors at the
Good Soil Forum presented by the Stand Together Foundation and Wells Fargo, an ideal environment for creating meaningful and productive collaborations.
Intent-to-Enter
Start by filling out a simple online registration form. No purchase is necessary.
Access to Tools
Upon registration, receive a complimentary license for LivePlan software to aid in crafting a compelling business plan.
Expert Consultation
Utilize the chance to have a personal consultation with a business planning expert if you have a Grow Membership or a paid Good Soil Forum ticket and meet the early entry deadline of May 15, 2024.
Build Your Plan in LivePlan
Upon registration, receive a complimentary license for LivePlan software to aid in crafting a compelling business plan.
Step 3
Early Entry Deadline
Submit your entry on or before May 15, 2024; you'll be eligible for a Zoom consultation with a business planning expert and qualification for the Most Improved award.
Submission Deadline
Ensure your business plan is submitted by June 1, 2024.
Judging Criteria
Plans will be evaluated based on the plan's soundness, results to date, usage of funds,
and presentation quality.
Live Pitch
Finalists will present to an expert panel on June 14, 2024 at the Good Soil Forum presented by the Stand Together Foundation and Wells Fargo.
Winners will receive awards as follows
First pLace
plus mentorship from a renowned business leader
Second pLace
Third pLace
Highlight Dallas award
Most Improved Business
Join US
Are you ready to elevate your business idea and gain unparalleled exposure? Register for the Seed Capital Pitch Competition today and start your journey towards entrepreneurial excellence. Let’s cultivate success together!
THE rhythm of entrepreneurship
2024 Good Soil Forum
Celebrate the spirit of entrepreneurship with captivating exhibits of achievement from Black-owned businesses, and artistic expressions honoring the journey of growth. #TheRhythmofEntrepreneurship is a harmonious ode to the patience, perseverance, and determination that blossoms from strife into prosperity for under-resourced entrepreneurs. This year, we delve into the art of sowing the seeds of opportunity, nurturing them with passion, and reaping exactly what we sow: the rewards of a well-cultivated business.
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What are the requirements for entering the competition?
To participate in the competition, your company must meet the following criteria:
- Majority-owned by Black, Indigenous, and People of Color (BIPOC).
- Legally incorporated and in good standing in the United States.
- Have an owner over 18 who represents the company in all competition-related matters.
What are the financial restrictions for participating companies?
Your company must have received at most $1 million in funding. Your employees should have an annual income of at most $100,000, and your installment debt should be at most $200,000 unless it's a convertible note.
Are there any industry-specific restrictions for participating companies?
Yes, businesses in specific industries are not eligible to participate. These include businesses related to sexually oriented products and services, firearms, alcohol (except for restaurants that serve alcohol), gambling, multi-level marketing, or any illegal activities.
What is required of participating companies?
Your company must commit to attending the Good Soil Forum presented by the Stand Together Foundation and Wells Fargo scheduled for June 13-15, 2024. Only one entry per company is allowed.
What happens if a company provides false information?
We will validate all company representations through due diligence within sixty days of the award. If any representations are false, the company may be disqualified and forfeit the prize to the next highest-ranked company.
How can I enter the competition?
To enter, complete these three steps:
- Create a free account on the Good Soil HQ app.
- Redeem your complimentary license for LivePlan software through the app.
- Submit your completed business plan via the app by the May 23, 2024 deadline.
What are the critical dates for the competition?
- Early Entry Deadline: May 15, 2024
Eligibility for a Zoom consultation with a business planning expert and qualification for the Most Improved award. - Final Submission Deadline: June 1, 2024
All competition entries must be submitted by this date to be considered for the competition. - Finals: Held during the Good Soil Forum presented by the Stand Together Foundation and Wells Fargo in June 2024.
What is the format of the final pitch?
Each finalist will have ten minutes on stage during the Good Soil Forum presented by the Stand Together Foundation and Wells Fargo. This includes five minutes to deliver their business pitch and another five minutes to answer questions from the panel of judges.
This format simulates a real-world investment pitch, allowing you to effectively showcase your business plan and respond to investor inquiries.
Who will be judging the final pitches?
The final pitches will be judged by a panel comprising seasoned investors, business leaders, and a representative from Wells Fargo, our event sponsor. The collective community vote will be the equivalent of one judge's vote.
What are the judging criteria?
Entries will be evaluated based on:
- Results to Date (25%)
- Soundness of Plan (25%)
- Clarity on the Utilization of Funds (25%)
- Quality of Presentation (25%)
What prizes are available?
Prizes include:
- First Place: $200,000 plus mentorship from a relevant business leader.
- Second Place: $100,000
- Third Place: $75,000
- Special Categories:
- Most Improved Business: $50,000, awarded to the entrepreneur who shows the most progress during the competition's mentorship program.
- Highlight Dallas Award: $75,000, available exclusively to businesses in the City of Dallas
The Metroplex Economic Development Corporation (MEDC) may award additional prizes or recognition at its sole discretion. These special awards acknowledge standout participants whose businesses demonstrate exceptional potential, innovative ideas, or significant impact in their community.
All winners and recipients of additional prizes are determined based on the competition’s established criteria, aiming to foster a spirit of entrepreneurship and growth among the participants.
How does the voting process work?
The Good Soil community will have the opportunity to vote for their favorite entries in the main competition. These community votes will be considered alongside the judgments made by the expert panel.
What is the Good Soil Accelerator Program?
All finalists are invited to join the Good Soil Accelerator, a year-long program that provides intensive mentorship, resources, and support to help grow your business and improve fundability.
Are there any fees for entering the competition?
There are no entry fees for the competition. All participants can access a complimentary LivePlan license to help prepare their business plan submissions.
Can I participate if I'm based outside of Dallas?
Yes, the competition is open to all eligible U.S.-incorporated businesses. However, the "Highlight Dallas" prize is specifically for companies in Dallas.
What happens if I win?
Winners are expected to use the prize funds to develop their business further, as outlined in their competition entry. Winners will also receive publicity, networking opportunities, and the potential for additional mentorship through the Good Soil Accelerator.
How does the competition protect my intellectual property and maintain the confidentiality of my submission?
At the Seed Capital Pitch Competition, we prioritize the protection of your intellectual property and the confidentiality of your submissions. Here are the key points:
Who can I contact if I have more questions?
For any additional inquiries, please contact our support team via the contact section on our website or the Good Soil HQ app. We are here to assist you and ensure you have all the information to participate successfully.
