CHARLOTTE, N.C. — Small businesses are considered the heartbeat of communities nationwide.
But a number of aspiring entrepreneurs face barriers, like financial limitations, while trying to launch their businesses.
An annual competition is helping aspiring entrepreneurs with making their business dreams come true.
The 53 Ideas Pitch Competition is hosted by South Piedmont Community College. It's an opportunity for business owners and entrepreneurs to pitch their business idea in a 53-second video.
The top 53 submissions are provided training and support to further develop their pitches.
Ten finalists are later selected, all competing and pitching for a first place prize funding of $10,000 for their business.
The winners of the 53 Ideas Pitch Competition are:
- 1st place - Tequia Williams (Jexsii, LLC)
- 2nd place - Jo'Von Wright (Just Jo's)
- 3rd place - Shane Fraser & David Casper (PlanTELLGive)
Director of Small Business and Entrepreneurship at South Piedmont Community College, Renee Hode says the competition is exactly what the winners and other entrepreneurs need.
"53 Ideas came as an open call for ideas in our community," Hode said. "We know everyone has an idea, but they might not have the means or resources to bring it into fruition. We wanted to make sure we could give everyone an opportunity. Everyone can submit an idea and perhaps win funding that could help them take that idea to the next level."
"Watching them roll up their sleeves, coming in with that seedling of an idea and working hard to turn it into a solid pitch so they can communicate their idea and receive the funding. Every year we have great participants," he said.
But Hode says the competition is about more than the funding.
"Win or loose, we're here to support them. Beyond the money and financial benefit is the training, the connectivity to the resources, to help them move the idea forward," Hode said.
Hode says the first place winner, Tequia Williams, represents what the competition is all about.
"It shows that persistence and resilience is needed in entrepreneurship. You don't always get a yes. But if you work hard and continue to work on the aspects of the business, you can come back, and that's exactly what she did," Hode said.
"She pitched last year and was in the top 10. She didn't make it. I talked with her [and said] you need to come back. You have a solid idea, you just need to refine it. She's worked hard. She's used resources here and other community providers. Came back, and she knocked it out the park this year," he said.
Williams is the owner of Jexsii, a tight curl beauty brand company.
She started working on her business and product in 2014.
At that time, Williams was employed as a nurse, but she aspired to own and run her own business full-time.
Williams kept working on her product, later developing its signature product called Jagid.
The multi functional hair product combines a wide-toothed comb with a scalp cleanser and massager. It's helping women of color style their hair without damaging it.
"Feeling confident wearing that style out in public," Williams said. "It was always a challenge for me to figure that out. So I said, 'Maybe I can invent something.'"
But Williams says she's faced obstacles trying to launch her product.
"It's been a challenge getting it up and running because I've been funding it myself for the past 9 years," Williams said.
"So I transitioned into travel nursing in order to get the funding to be able to move forward with product development, which is very expensive. It's been challenging balancing building a business and also working as a nurse," she said.
Williams recently took a leap of faith and left the nursing profession altogether.
Now she's devoting more time to further her business goals.
Support from local business centers fueled Williams' confidence to pursue her business full time.
Thanks to the 53 Ideas Pitch Competition, Williams is now closer to launching her product in the market.
"This what we need to get us closer to launch," Williams said. "We're in need of funding to be able to pay for product development expenses and other startup expenses. So this is going to help us out tremendously, help us get to the market officially."
Williams says support from the business and higher education community is critical for many aspiring business owners. Without it, she's uncertain where many entrepreneurs would be.
"Their support matters so much because people like me, who don't have a business background, need these resources," Williams said.
"Don't give up," Hode said. "Take advantage of the community of resources and connections that could help you move your idea forward. You can do it, there's nothing you can't do."
Open call for the next 53 Ideas Pitch Competition will be happening in May 2024.