Closed Until 2025
Do you have a great business idea? Have you always wanted to own a business in downtown Fort Dodge? Is your current business planning to expand services or add a new product line? Do you have a piece of equipment you wish you could purchase for your business?
Main Street Fort Dodge is looking for interested entrepreneurs who could use $28,000 to expand and grow their business idea within the Fort Dodge Main Street district. The Open 4 Business contest, launched in 2015, is an opportunity for businesses located within a state-designated Main Street district, to compete for a chance to win up to $28,000 in grant funds to assist with a business development or expansion project that will help them grow their business.
Businesses must complete an online application and submit a short video outlining their business idea and how it will benefit the local economic climate in their community. A 25% cash match is required. Businesses must have been in operation for at least 1 year to apply. The grant funds are administered by the Iowa Economic Development Authority’s Downtown Resource Center and Main Street Iowa program.
Main Street Fort Dodge is holding a local contest for existing businesses within the Main Street District. The local winner will receive $250. The business should fill a gap that currently exists within our district. The deadline for local applications will be in March 2025.
Each designated Main Street community may submit one local business applicant that will represent their community at the state competition. Statewide contest pitches will be held in July or August – as part of the State Downtown Conference in Iowa City, Iowa.
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A panel of judges from across the state will judge the online applications and video pitches and select the top four applicants in each population category. These applicants will become the 12 semi-finalists. Three (3) population categories will be determined once all applications have been received to allow for an equal number of applicants in each category. Each of the 12 semi-finalists will be required to participate in an online video interview with the panel of judges in May 2025. Interviews will last no more than 15 minutes.
The judges will choose five finalists to advance to the state competition. The five finalists will include one winner from each population category and two “wild card” winners. The five finalists will be notified in June 2025. They will receive an $8,000 grant award, technical assistance, and coaching for the state contest from a Main Street Iowa Business Specialist to help them prepare for their live contest pitch at the state contest.
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