Tuesday, May 25, 2021

Launch Pottsville Competition Looking for Entrepreneurs


On Monday, the Pottsville Area Development Corporation announced the Launch Pottsville Competition is back on for 2021! 

Launch Pottsville will be a business plan contest targeting the Strategic Redevelopment Area in downtown Pottsville, as outlined by the Strategic Plan created through the Continued Progress Project in 2018.

The purpose of the Launch Pottsville Competition, according to PADCO Executive Director, Savas Logothetides, is to, “Create a non-traditional form of economic development by investing in human capital and encouraging entrepreneurship. Launch Pottsville will aim to facilitate a greater small business ecosystem in Pottsville’s Strategic Redevelopment Area by investing in entrepreneurs and energizing the local business community.”

“Launch Pottsville is another innovative way Pottsville is reinventing itself,” said State Senator Dave Argall, “I recently toured the community and saw many new entrepreneurs including Drasdis & Son’s, Pressed Coffee & Books, Pilger Ruh and Black Rock Brewing Company making a real impact.”

Judging criteria for business propositions will include goals such as increasing foot traffic in Pottsville, job creation, providing more goods and services to people living in the city and surrounding community, and filling vacant buildings.

In order to accomplish these goals, Launch Pottsville has leveraged local assets through the Pottsville Redevelopment Authority ($25,000) and the Continued Progress Project ($10,000), as well as regional partnerships with M&T Bank ($5,000) and Riverview Bank ($5,000) to finance startup capital to entrepreneurs seeking funding. PADCO has also contributed $100,000 from their Revolving Loan Fund. The competition is still actively seeking financial support as well as in-kind goods and services to help applicants reach their entrepreneurial goals.

Launch Pottsville will be a three phase, nine-month business plan contest in which up to three entrepreneurs will be awarded $50,000 startup capital and approximately $10,000 in pro-bono goods and services.

The Redevelopment Authority of Pottsville Executive Director, Tom Palamar, commented on the project, “[We are] excited to be partners in this business plan competition. This non-traditional form of economic development is an “outside of the box” initiative and one of many the Redevelopment Authority is engaging in to invigorate the commerce and enhance the vitality of our community. We look forward to very positive results from this innovative approach to providing jobs and filling those store fronts currently vacant.”

Details on the official rules and the competition format will be released by June 1st, 2021. First Phase I applications will be formally accepted between June 1, 2021 and September 1, 2021. There will be no fee to enter. 

Any applications submitted in the previous year before the competition was postponed are encouraged to revise and resubmit. 

Direct inquiries can be sent to Savas Logothetides by emailing info@pad-co.com

Visit www.downtownpottsville.com/launch-pottsville, and the PADCO or Downtown Pottsville Facebook pages for more information.

No comments:

Post a Comment