PORT ORCHARD — The sixth annual edg3 FUND small-business competition sponsored by Kitsap Bank will kick off July 1 with one change: the grand prize has been boosted to $25,000.
The contest is the bank’s annual small-business competition directed to entrepreneurs dedicated to growing the community economically, socially and environmentally.
The edg3 FUND application period runs from July 1 to July 31. Interested entrepreneurs and small-business owners can go to Kitsap Bank’s website to sign up: www.kitsapbank.com/business/edg3-fund. Contestants are asked to submit an online application and a two-minute video that describes their business and make the case for how the $25,000 grand prize will take their business to the next level.
After the application period ends, semifinalists will be chosen, with public voting taking place through the bank’s website between Sept. 23-30. Members of the public will help select the top five finalists, who will present their pitches at a live event Nov. 1 during Global Entrepreneurship Week at the Kitsap Conference Center at Harborside in Bremerton.
An independent panel of judges will determine the winner. For-profit small businesses in Western Washington that have a positive economic, social and environmental impact on the communities that Kitsap Bank serves also are encouraged to apply. Sponsors said a business that’s planning to apply needs to have a commitment to their idea and concept and make the case for how the prize money will give the business an “edge.”
Kitsap Bank also will be presenting the Community edg3 Award and a $5,000 prize. It will be awarded to a business selected from the semifinalist pool that, in the judges’ opinions, best embodies the spirit of community, based on their submitted application and video.
An edg3 FUND informational workshop has been scheduled at 10 a.m., Tuesday, June 25, at Olympic College in Poulsbo. There is no charge to attend the event. Interested parties can register at www.brownpapertickets.com/event/4254496.