The PTP NEXT Business Competition is highly competitive and open to innovative start-up and existing entrepreneurial companies in diverse industries who have:
- A market opportunity of significant size
- Clearly differentiated innovation in products, services, processes and/or technologies
- Headquarters in (or plans to headquarter) in the Piedmont Triad region
How is PTP NEXT different from a business plan competition?
Unlike many similar initiatives, the PTP NEXT Business Competition is a business competition, not a business plan competition. Judges, who are investment professionals and industry executives, are looking for the best businesses who can execute and grow in the Triad and that will benefit from the unique assets of the region. Grants are made to companies, not individuals, and are complemented with coaching, quarterly updates, access to mentors and experts, and exposure to investors and other funding sources. PTP NEXT is implemented in partnership with NC IDEA and the Piedmont Triad Partnership.
Companies can compete for prospective grants up to $50,000, based on the company’s proposal and the judges’ evaluation of best use of funds. Grants are targeted at companies where the grant funds can make a significant impact by supporting business activities that validate potential markets, reduce risk of early failure, and advance projects to their next phase. Winners will receive funds based on achieving mutually agreed-upon milestones over the course of the next 12 months.