BLOOMINGTON, Minn. — Right now, 10 Bloomington entrepreneurs are competing for some big money to help kick start their small business.
The Hatch Bloomington contest is sponsored by the City of Bloomington and the Minneapolis Regional Chamber of Commerce. The finalist with best idea for a brick-and-mortar business wins $100,000.
Monday at the Bloomington Civic Plaza, the Top 10 finalists pitched their ideas to a live audience and judges panel, which included chamber and city council members. They each had eight minutes to showcase their work.
"I'm here to share my vision for a new kind of furniture store," finalist Matt Rens of Arbor Furniture Company told the crowd.
"We offer the freshest, locally grown produce," said fellow finalist Prince Yeakehson of Bloomington Greens.
"Big brands like Gymshark, the thing is, they're not a Muslim girl," Kalsoni founder Muna Mohamed said in her pitch.
"The funds from Hatch Bloomington would be used to manufacture our first collection," said Hayley Matthews-Jones of her jumpsuit-fashion business, the Jump.
During his turn, Indoor Dog Fitness' Grant Anderson said, "So many dog owners right now are probably thinking, 'Why doesn't this exist already?'"
Mayor Tim Busse said this is the first Hatch Bloomington contest, and 117 applicants initially applied. He said the city got the idea from Detroit's Hatch Detroit contest.
"Think Shark Tank," Busse said. "Bloomington has a long history of big business. We've got obviously the Mall of America. We also want to support the businesses that are very local."
Now, community is helping decide who advances to the top three. Residents and nonresidents alike may place one vote each before midnight this Sunday, Aug. 4. Participants are encouraged to watch all pitches on the Hatch Bloomington website before voting online. Results are expected Tuesday.
The top three will compete in one last "Hatch Off" on Thursday, Aug. 22, followed by a final round of online voting. The winner will be announced right after Labor Day.
Busse said, in a way, everyone wins.
"All along the way, there's been coaching, there's been help," he explained. "It gives them an opportunity for more exposure, and to learn more about business models, financial modeling. So many of the people who simply applied and went through this process are now in business in the Detroit area."
The Top 10 finalists include: