Iowa’s TS Bank is partnering with Advance Southwest Iowa Corp., and several other companies to host a small business pitch competition on Tuesday, Oct. 19.
During the REV event, participating entrepreneurs and business owners will pitch to a panel of judges to win up to $10,000 to grow their business. From this year’s pool of applicants, TS Bank and Advance Southwest Iowa will select up to five businesses whose applications will be judged on aspects of their organizations. Applications are available on the bank’s website and can be submitted through Sept. 10.
“We invite businesses to pitch their current or future business concept for a chance to win actual money. Our sole mission is to create community prosperity in all the communities we serve,” said Dave Wise, TS Bank senior vice president of business banking.
TS Bank started REV in 2015 to spur economic growth and encourage business owners to continue pursuing their dreams. During the first four competitions (2015-17 and 2020), the bank awarded more than $85,000 to winners. During last year’s virtual event, the release said top winners included Full Fledged Brewing Co., with a $5,000 grand price to expand canning into other retail spaces and grocery stores. Tandem Works was awarded $2,500 to build an on-demand online course for business owners to help them identify their brand messaging; P@YD Omaha used its $1,250 in funds for front-end web development; and Atlantic, Iowa-based Farmhouse & Flowers used its $1,250 in funds to continue renovating existing retail space and create a customized branding experience.
TS Bank contributed $5,000 and Advance Southwest Iowa gave $2,500 to this year’s prize money. Additional funds were raised via scholarships. Major sponsors included Nebraska Enterprise Fund, Revela and POWERTECH. Additional sponsors included Pozzi Family Foundation, Council Bluffs Chamber of Commerce, Castle and Associates Inc., Rachel Dorr Accounting, Mills County Economic Development Corporation, Modern Matriarch Distillery and Proven Ventures.
“We have absolutely loved partnering with TS Bank to host REV in southwest Iowa. The prizes awarded through REV can act as a catalyst for growth, but we realized last year that the impact of the pitch competition goes far beyond the money, the connections made can actually be more significant,” said Advance Southwest Iowa Corp. Entrepreneurial Development Manager Niki Ferguson.
TS Bank, based on Treynor, has $394 million in assets