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New Ideas for a New Carolina

By Kristin Badger, FastTrac Coordinator

The South Carolina Research Authority along with FastTracSC and New Carolina – SC’s Council on Competitiveness, launched a statewide “Idea Competition” for all South Carolinians called New Ideas for a New Carolina at InnoVenture on Tuesday. The intent is to help develop an entrepreneurial idea at the earliest stage and to fill in the gap between a person’s initial business concept and bank or VC-ready plans.

What is the purpose of New Ideas for a New Carolina?
The contest is designed to:

Promote change and innovation at a grassroots level, and get South Carolinian’s creative juices flowing

Encourage entrepreneurship in SC

Bring together entrepreneurs with V.C.s, Banks, Business, Government and Education Leaders

Connect innovators in the state

Help 5 people grow their ideas into a business

What is the competition timeline?
March 28 - The official Launch was at InnoVenture in Greenville.
April 14 – Last date to submit an idea.
May 8 - Winners will be announced at the ThinkTEC Innovation Summit.

What are the awards?
The top 5 winning ideas will receive $1000 cash, a scholarship to FastTrac, other prizes and be assigned a Dream Team of mentors to help them cultivate their ideas.

Who can participate?
Anyone over 18 who is a resident of South Carolina.

How are ideas submitted?
Online at www.newcarolina.org/new-ideas.

Who is judging?
South Carolina Leaders from Angel Capital groups, Businesses, Non-Profit Organizations, Government entities and Educational Institutions.

How will the ideas be judged?

Viability: makes credible and believable case, is concise and easy to understand, and demonstrates relevant industry knowledge (competition, market need, pricing etc…)

Innovation/Vision: demonstrates creative thought, revolutionary or new perspective on existing markets and businesses, extraordinary vision for business in South Carolina.

Profit/Revenue Potential: satisfies a need in a commercially significant market, demonstrates operational feasibility and/or expertise, and/or offers superior alternative to products or services available now from others.

Who is involved?
Presenting Sponsor
SCRA

Sponsors
Brains on Fire, New Carolina, Innoventure, ThinkTEC, Nelson Mullins. Launch

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FastTracSC

Dream Team
Alliance for Women
American Marketing Association
Charleston Angel Partners
Charleston Metro Chamber of Commerce
The Citadel
Clemson Institute for Economic and Community Development
Columbia College
Columbia College Alliance for Women
EngenuitySC
The Entrepreneur Source
Friedman Marketing & Business Consulting
Furman University
Greater Columbia Chamber of Commerce
Midlands Technical College
Office of Small and Minority Business Affairs
Professional Networking Connections
S.C.O.R.E.
SCEDA
Small Business Development Center - Charleston
Small Business Development Center - Columbia
South Carolina Department of Commerce
South Carolina Research Authority
South Carolina Technical College System
South Carolina Technology Alliance
Southern Carolina Regional Community Development Corporation
Trident Technical College
University of South Carolina – Faber Center of Entrepreneurship
University of South Carolina – Darla Moore School of Business