Vinton – 137 local entrepreneurs and innovators are one step closer to turning their ideas into reality as they wrap up the final night of the Gauntlet business competition.
Now in its 11th year, Gauntlet offers an opportunity for local entrepreneurs and business owners, or those who want to start their own business, successfully launch or expand.
Tuesday night’s class marks the conclusion of the 11th annual Gauntlet program, organized by the Advancement Foundation in Vinton. The Gauntlet is a 10-week course designed to teach entrepreneurs how to create a business plan, followed by opportunities to win cash and in-kind prizes to help launch their ventures. Every participant walks away with a prize to help their business.
“The other important aspect about this is the economic development,” said Becky Freemal, board member from the Advancement Foundation, emphasizing the program’s broader impact on the regions local economy.
“The communities in which we’re serving are seeing the optimization and the growth of their economies, because when a business succeeds, the entire community succeeds. It’s not just about that one entrepreneur. It starts with that entrepreneur, and it just has a ripple effect,” Freemal said.
The program focuses on the Roanoke, Shenandoah, and New River valleys, the Alleghany Highlands, Southside, and far Southwest Virginia.
Gauntlet is Virginia’s Largest Business Program and Competition and offers a proven formula to develop business knowledge, by pairing entrepreneurs with mentors, and opening up numerous resources for new and expanding businesses.
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Gauntlet is a cross-regional network of innovators, entrepreneurs, community business leaders and industry experts that leverage all the assets of the entrepreneurial ecosystem across the state with a focus on Roanoke, Shenandoah, New River Valleys, Alleghany, Southside and far Southwest Virginia. The Gauntlet ecosystem is powered by The Advancement Foundation, a 501C3 that has supported more than 1,100 entrepreneurs, with resources exceeding $8 million for the communities served. The program is currently seeking community partners to join their network or to donate in-kind prizes or services.
“That’s the beautiful thing about the Gantlet. It’s not just about the people who have this great idea and how do I turn it into reality. Everybody can have a role in it in some form or fashion. So you can donate cash, you can donate in-kind prizes. Maybe you have a marketing business on the side and you could help others with your skills who may need it in that area. So you may not realize you have something that you can donate to help get a business up and running,” Freemal said.
For more information, interested entrepreneurs, mentors, sponsors, and community leaders can visit here.
The Gauntlet award ceremony is Tuesday, May 20 at 5:30pm at the Berglund Center in Roanoke.
