The Ballard Innovation Award competition is open to any early-stage company in the East Tennessee area that has established a “proof of concept” with accompanying revenue.
Donor Name: PYA
State: Tennessee
County: Selected Counties
City: Chattanooga, Knoxville, Kingsport, Johnson City, and Bristol
Type of Grant: Award
Deadline (mm/dd/yyyy): 02/09/2022
Size of the Grant: $50,000
Details:
Applicants must present a business plan to optimize existing business operations by reducing costs, increasing revenues, and/or gaining new efficiencies while demonstrating clear innovations to improve the business and empower the consumer.
The Award
The first-place winner of the PYA Ballard Innovation Award will receive the following:
- $50,000 package of capital and in-kind services:
- $10,000 of Monetary Capital
- $ 2,500 of In-Kind Tax Advisory Support
- $ 7,500 of In-Kind Outsourced Accounting
- $10,000 of In-Kind Marketing Support
- $10,000 of In-Kind Strategy Support
- $10,000 of In-Kind Video Development
- Marketing and promotional awareness through earned media
- Physical award for presentation and marketing purposes
2nd Place
- $10k of In-Kind Strategy Support
- Mention in marketing/media collaterals
3rd Place
- $5k of In-Kind Strategy Support
- Mention in marketing/media collateral
Eligibility Criteria
Applicant qualifications include a company that:
- Is located in the geographic East Tennessee area (33 counties as defined by the state of TN) – metro areas include Chattanooga, Knoxville, Kingsport, Johnson City, and Bristol;
- Has established a “proof of concept” with accompanying revenue (as outlined);
- Has secured financial resources (revenue, capital, or grants, not including self-funding, friends, or family) of a minimum of $200,000 total;
- Has a business plan to optimize existing business operations by reducing costs, increasing revenues, and/or gaining new efficiencies;
- Can demonstrate clear innovations that will improve the business;
- Has a focus on empowering the consumer to become more informed and engaged.
For more information, visit Ballard Innovation Award.
