1. Urban Innovation21 Small Business Grant Competition Supporting Small Business Growth in the Innovation Economy

2. Inclusive Innovation 2 "Inclusive innovation is an economic development approach pioneered outside of the U.S. Inclusive Innovation provides practical solutions, new business models and innovative processes to create a more inclusive economy that benefits all in a society. It includes cutting edge partnerships and novel, entrepreneurship, workforce development, place-based and educational strategies.” ~William Generett Jr., CEO Urban Innovation21 http://urbaninnovation21.org/the-call-to-action/

3. Purpose of Grant Competition 3 +Increase minority enterprise ownership. +Create new jobs. +Create enterprises that contribute to the innovation economy eco- system. +Improve community’s quality of life. +Increase the level of entrepreneurship taking place in the communities of Pittsburgh.

4. Purpose of Workshop Sessions: 4 +To provide a business education experience that enables you to learn and grow as an entrepreneur. +To assist you in preparing a business plan summary. +To assist you in making your business case. +Assist you in completing and meeting competition application requirements. (Technical Assistance 6 Hours)

5. Judging Criteria 5 Does your application meet the grant’s intent? - 25 Points + Is it an opportunity for Wealth Creation or protection? + Is the opportunity to Grow or Start a business? + Does the proposed business Create New Jobs? + Do residents gain Access to Education or Training they need to get ahead?

6. Judging Criteria 6 +Attendance and Cover letter - 15 Point +What is your entrepreneurial story? Why did you start this business? +What amount are you requesting? +What is the budget for your project? +Marketing Strategy - 20 Points +What is your product or service? +What is your Price point +What is your demographic? +How will you attract customers? +What research do you have to support your plan?

7. Judging Criteria 7 +Operations Plan & Management - 20 Points +What is your management experience? +Do you have an operations manual; what are your procedures? +Do you have proper licensing, permits, insurance, etc? +Financial Plan - 20 Points +What is your project budget and budget justifications? +Do your financial statements support your business case?

8. Scoring Guidelines for Existing Business 8 +Fewer than 51 points: Proposal not considered, No Funds Awarded. + 51 points or above: Applicant can be considered for zero interest loan award. +68 to 84 points: Applicant can be considered for a up to $7,500 award. +85 to 100 points: Applicant can be considered for up to $10,000 award.

9. Scoring Guidelines for StartUp Business: 9  Fewer than 51 points: Proposal not considered, No Funds Awarded.  51 points or above: Applicant can be considered for zero interest loan award.  68 to 84 points: Applicant can be considered for a up to $2,500 award.  85 to 100 points: Applicant can be considered for up to $5,000 award. *StartUp business is considered 0 - 2 years of Operations.

10. Questions and Answers 10

11. Business Plan Summary 11 + Follow the format provided in the guide; + Business description up to 120 words; + Management experience up to 120 words; + Market Demographics up to 120 words; + Financial Summary Chart - Provide your project budget; + Funding request amount - Indicate grants or loans, both;

12. Business Plan Summary 12 +Marketing Strategy up to 120 words; +Describe your product or service +Sales and Promotions up to 120 words; +Operations Strategy up to 240 words; +Capitalization and Finance up 120 words; +Explain sources of capital, current assets, sales forecast and break even point.

13. Homewood Grant Competition Saturday Workshop Sessions 13 Existing Business - 10:00am to 12:00pm StartUp Business - 12:00pm to 2:00pm +Session 1 – July 11th +Session 2 - July 18th +Session 3 - July 25th +Session 4 - August 1st *All Sessions will be held at the YMCA - Homewood Brushton Branch North Conference Room

14. Questions and Answers 14

15. Passion Behind Your Business  What is my reason for taking the entrepreneurial leap of faith? “Why”  Am I willing to go through the pain points of being in business?  Perseverance -­‐ If I do not get off to a fast start, am I willing to pivot? Am I willing to do additional research? Am I willing to stay the course until I find my niche?  How much do I really want this to work?

16. Entrepreneurial Mindset Recommended Readings “Don’t Just Start a Business, Solve a Problem” “5 Things to Consider When Starting a Business” “Finding Ways to Collaborate to Advance Your Business” “Getting from Idea to a Business Plan” “Organizing and Implementing Strategy”