FLINT, Michigan — It can be scary to talk out loud about your dreams for a new business or product, but it can also pay off. Literally. On Feb. 27, 100K Ideas is hosting a
Pitch for $K idea pitch competition, and budding entrepreneurs are preparing their presentations to compete for the chance to win up to $5,000.
Vivian Williams is the Community Engagement Coordinator at 100K Ideas, works to create and maintain relationships with community members, and future potential clients, and shares the mission of the organization.
“The mission of 100K Ideas, to me, is to provide that safe space for idea exploration. If you don’t know where to start, this is a great place to start. It is the place to start,” Williams says.
Pitch for $K was initially founded and funded by the Charles Stewart Mott Foundation and has run for the last six years. Each year, the competition takes place three times throughout the year. The competition is designed to foster the entrepreneurial mindset of Flint and Genesee County residents 18 and older. The
chosen seven participants receive mentoring and coaching along the way from the University of Michigan Economic Development Center, helping them to prepare and refine their pitches, products, and business models.
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Courtesy photoA participant receives her prize at a previous 'Pitch for $K' competition.
Another requirement for presenters is that their business must not have generated more than $250,000 in revenue since the launch of their business. There is no cost to participate in the pitch competition.
“This helps create an opportunity for those who are just starting out in business, or have been in business for a while but need some funds to move their business along. This is a really great starting point for them,” Williams says.
This year, Williams has seen over 20 submissions from local residents hoping to take advantage of the competition. Volunteer selection committee members review and score all applications. The committee looks for answers about what kind of problem the business aims to solve, how they plan to provide a solution, existing competitors, what makes your product unique, and the plan for how you plan to use the prize money, etc.
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Participants receive their prize at a previous 'Pitch for $K' competition. People of all ages, backgrounds, and business experience have signed up and participated in past competitions, says Williams. In each competition, the presenters provide their five-minute pitches to the judges as well as a live audience. The first prize is $5,000, the second prize is $2,500 and the third prize is $1,000. There’s also a fourth prize for the People’s Choice award for $1,000, chosen by the audience (in-person and virtual live stream watchers).
Previous participants include
Elle Jay Essentials, an all-natural skincare line,
The John L. Group, a brick-and-mortar financial and logistics company,
I Love Pig, a Venezuelan restaurant in the Flint Farmer’s Market,
1:Eleven, a handmade leather goods company.
One of this month’s participants is
Bre’Asia Hamlin, a Flint native and a licensed real estate agent in the state of Michigan. Hamlin heard about the opportunity through her involvement with small business organizations within the community.
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Courtesy photoBre’Asia Hamlin.
“I heard about the event well over a year ago, but it was something that I was always a little bit too nervous to apply for,” Hamlin says. “I was a little scared, but had a conversation with Vivian last year at an event. She encouraged me to apply and said the worst thing you could hear is no. That gave me a little motivation to apply for the pitch competition, and once I applied, I was accepted. I am really happy that I gained the courage to do that.”
Hamlin’s business idea is the Michigan Homebuyer Academy, an educational platform for first-time homebuyers in the state of Michigan.
“It was founded, based out of a need that I’ve seen within my community, which is a lack of financial literacy and homeownership education. Ultimately, the program is designed to walk you through the steps you need to prepare yourself to purchase a home, to allow the experience to be less overwhelming, and for individuals to feel confident during the home buying process.”
After hosting a first-time homebuyer workshop at the Flint Public Library in 2023, Hamlin saw a real need for this sort of resource.
“It was a great event with a really great turnout, but what I found was that people were seeking additional education and continuing education,” she says. “We want to provide that, but sometimes we don’t know how to provide that. That’s what sparked this because there is only so much you can do in four hours. Now, I want to expand on this event and turn it into an ongoing thing that people have access to 24-7.”
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Courtesy photoParticipants receive their prizes at a previous 'Pitch for $K' competition. The business is currently in the idea phase, but Hamlin expects to launch the website in May 2025, and plans on using potential award money to do so, if she places in the competition. Within the platform, there are tiered levels of membership, ranging from no cost to low cost, giving subscribers access to educational resources, industry experts, referrals, and more.
Williams enjoys seeing the fresh new ideas and excitement surrounding these events, year after year.
“One of my favorite parts is meeting new people, “ she says. “I get a unique perspective watching them from their first pitch rehearsal to their last, and the competition date — seeing how they’ve grown, and breaking through their fear of public speaking. Maybe they discovered something new about their business or made a connection among participants in that particular round. I love seeing those moments of connecting and creating their own community with one another.”
Even if participants don’t win an award, they are allowed to revisit, refine, or pivot their pitches and present again in a future competition.
Audience members are invited to attend the free pitch competition, both in-person and online. The next round is on Thursday, Feb. 27 at 5:30 p.m. at the Dryden Building, located at 601 S. Saginaw Street in downtown Flint.