Attention small business ventures and startups

The Southside Bethlehem Keystone Innovation Zone recognizes the goal of entrepreneurs or small business owners is to make money. But how many do?

We want to make you one of them. You can have your path to profitability reviewed and evaluated by experts as part of the Southside Bethlehem Keystone Innovation Zone Commercial Competition. The winners of the competition will have the opportunity to become Keystone Innovation Zone clients and receive many KIZ benefits.

Here are the eligibility guidelines:

The competition is for small independent business ventures and startups that operate within the Lehigh Valley and are engaged in business within the broad guidelines of one of the KIZ approved business clusters listed below.

- Advanced Materials & Nanotechnology

- Life Sciences

- Information Technologies & web based businesses

- Opto-Micro Electronics

- Alternative/Renewable Energy

- Financial Services

Early Stage Companies – Existing companies eight years old or younger that are engaged in business within one of the above business clusters. Companies have not yet achieved full sustainability.

Startup Businesses - Any company with a limited operating history. Companies are generally in their first stage of operations and initially bankrolled by their entrepreneurial founders, as they attempt to capitalize on developing a product or service with a burgeoning demand.

Ineligible - Any existing company or idea that has received venture capital financing is ineligible for this competition. Buyouts, expansions of existing companies, real estate syndications, tax shelters, franchises, licensing agreements for distribution in a different geographical area, are also ineligible.

AWARDS

Cash:

First place: $7,500

Second place: $5,000

Third place: $2,500

In-Kind Awards

- One year’s free rent in the PI Commercialization Center or other space in the KIZ. This is a $3,000 value

- A free consultation with an accountant or bookkeeper for up to two hours.

- Free consultation with an attorney for up to two hours.

- Office furnishings allowance to$1,000

For a complete rules packet please contact Steve Melnick at (610) 266-7535 or at smelnick@lehighvalley.org

Competition entries will be accepted until February 28th.

By Steve Melnick

About the author:

Steve Melnick is the Coordinator of the Southside Bethlehem Keystone Innovation Zone. He works with its partners to retain young talent and help them turn ideas into companies. Steve also coordinates the Keystone Opportunity Zone. “I’ve been working in community and economic development since 1969. I get a tremendous sense of satisfaction out of conceptualizing something and then turning it into reality. Walking down the street and looking at businesses I have helped, or structures that I have help fund or build, gives me a thrill to this day.” Favorite Lehigh Valley Restaurant: Apollo Grill, Bethlehem... read more