GRAND ISLAND, Neb. (KSNB) — Business proposals for the Grand Island Big Idea 2024 competition are now open through October 16.

The event is designed very similarly to the popular show “Shark Tank” and allows Grand Island entrepreneurs to pitch their business ideas to an audience and a panel of judges in two minutes.

The judges decide which ten presentations will be heard by the audience, the audience then selects the five best presentations and the judges select the three winners of the event.

Thanks to donations from the Central Nebraska Growth Foundation and local businesses, the grand prize for the winner of the Big Idea Grand Island competition has increased.

The winner of the 2024 Big Idea Grand Island contest will receive $10,000 to help start or grow a business. Thanks to donations from the Central Nebraska Growth Foundation and local businesses, the prize amount increased from $5,000 last year. The second-place prize is worth $2,000, and the third-place prize is worth $500. Winners will also receive cash prizes in the form of professional services.

Central Community College Entrepreneurship Center Director Aimee Steinhardt-Duysen said there are many benefits to performing in front of a live audience.

“Presenting your idea to a live audience works really well for entrepreneurs,” Steinhardt-Duysen said. “It gets them used to being in the spotlight, to showing their ideas, and it gets the community excited about what we might see in Grand Island.”

She added that the event has proven to be a launching pad for many Grand Island businesses in the past.

“We’ve seen so many successful businesses,” said Steinhardt Duysen. “You can see ‘Rooted Books,’ for example, which just opened last week as a store. They got our number one spot last year, so it’s really great to see these businesses really flourish and it’s a great way to promote their businesses.”

Steinhardt-Duysen also said the event fills a huge need for local businesses and entrepreneurship on Grand Island.

“I think we’re seeing a big transformation in Grand Island and the surrounding area,” Steinhardt-Duysen said. “We’re starting to see a lot of these larger stores closing. You look at JC Penny and Sears and a lot of them are gone, so it’s important that we bring new ideas, new creativity and innovation to Grand Island.”

Steinhardt-Duysen also said her favorite part of the event is hearing all the unique presentations and seeing the ideas from entrepreneurs who want to improve Grand Island.

“I think it’s really exciting to see all the great ideas that people come up with,” Steinhardt-Duysen said. “The next great store that we’re going to have in Grand Island, and even if it’s a technology store. Any one of those that will continue to elevate Grand Island and keep that money in our city.

Admission to Big Idea Grand Island 2024 is free. The event will take place on Monday, November 4th in Liederkranz. It will start with a social at 5:30 PM and the presentations will start at 6:30 PM.

More information about the event can be found on the Big Idea Grand Island website.

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