Frequently Asked Questions

Finalist Questions

  • Applications are reviewed by our round 1 judges in the month of May. Selected applicants will be notified if they move forward as a finalist and will receive next steps for the competition.

  • A select group of finalists will be chosen to compete in the final event. The exact number may vary each year based on the applicant pool.

  • Finalists should expect to meet with the SBDC, prepare their presentation, and attend the final competition event. Additional details and schedules will be shared in advance.

  • Yes! You’ll receive support from the South Dakota Small Business Development Center to help you prepare your presentation. We also host pitch practice sessions with a mock panel of judges so you can practice ahead of the final event. Our team is available for one-on-one support as well to help you feel comfortable and confident.

Application Questions

  • Yes. As long as your business is under 5 years old and has generated less than $500,000 in revenue, you are eligible.

  • Yes. As long as you meet the eligibility requirements and plan to grow your business within 100 miles of Aberdeen.

  • Absolutely. If selected as a finalist, you’ll receive pitch coaching and guidance to help you prepare with confidence.

  • Yes. Past applicants are encouraged to apply again. However, previous finalists may not re-enter with the same business idea.

  • No. Aspiring entrepreneurs are welcome. You just need to be actively working toward launching your business.

  • A completed application and a 2-page executive summary (details and outline are included in the application).

  • No. Relocation is not required, but your business must operate within a 100-mile radius with plans to expand to Aberdeen.

  • The winning entrepreneur will receive $10,000, sponsored by the Aberdeen Development Corporation, to help start or grow their business.

  • Aspiring or early-stage entrepreneurs located within 100 miles of Aberdeen whose business is under 5 years old and under $500,000 in revenue.

  • Yes. You can apply as an individual or as a team. If selected as a finalist, you’ll designate one primary presenter for the final pitch.

  • Applications are reviewed only by the selection committee. Judges are not required to sign an NDA, but they do understand the sensitivity of the information being submitted. However, if selected as a finalist, you will be pitching publicly, so we recommend only sharing what you are comfortable presenting.

  • Restrictions include businesses such as real estate, franchises, affiliate marketing, multi-level marketing, licensed dealerships, and those requiring a club affiliation for the conduct of business are not eligible. Businesses must be legal and aligned with the competition's goals.

  • Yes. This competition is designed for early-stage ideas and businesses. Even if you’re still figuring things out, the application and feedback process can be extremely valuable.

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Final Event Questions

  • The final event is Monday, June 29. Networking will begin at 4:00 PM and pitches will start at 5:00 PM.

  • Finalists will present their business idea live in front of judges and an audience. Each pitch will be approximately 5 minutes, followed by a short Q&A with judges.

  • Yes. Finalists are expected to use a visual aid such as a slide deck to support their presentation.

  • Yes. The final competition event is open to the public and serves as a celebration of entrepreneurship in the Aberdeen community.

  • This event is only in person. It is not live-streamed or recorded.

  • Judges evaluate based on several factors, including but not limited to the strength and innovation of the idea, market opportunity, business model, feasibility, and overall presentation.

  • Funding should be used to support the startup or growth of your business. Final details and any requirements will be shared with the winner.

  • The $10,000 award is provided as a cash prize that is to be used for your business. It is not a loan and does not require giving up equity, but there will be parameters and benchmarks around using the funds.

  • Participants gain access to ongoing support through the Northern Innovation and Startup Center and Aberdeen Development Corporation, including mentorship, resources, and future programming opportunities. The Small Business Development Center is another free resource that is available to you for business consulting, business planning, and financial projections.