Competition THRIVE Finalists Announced
Congratulations to the five finalists of Competition THRIVE, a business plan competition to support immigrant entrepreneurs in...
As part of New York City's efforts to support growth and job creation in immigrant communities, Competition THRIVE seeks to develop innovative strategies and programs that help immigrant entrepreneurs succeed in business.
NYCEDC, in consultation with the Deutsche Bank Americas Foundation, the Garfield Foundation, and the Western Union Foundation, has partnered with the Lawrence N. Field Center for Entrepreneurship at Baruch College to operate Competition THRIVE. The competition is designed to address the challenges faced by the City’s immigrant entrepreneurs, which commonly include access to credit, financial management, language barriers, and access to business networks.
The judges selected five finalists from more than 40 entries to develop their proposals. Each of the five finalists were awarded seed funding of $25,000 to pilot their program for six months and create a business plan. After the six month pilot period, one grand prize winner and a runner-up were selected to receive funding of $150,000 and $75,000, respectively, and promotional services to further scale their programs.
Winner: CAMBA, Inc.—Mobilize Your Business: Using the Tablet for a Competitive Edge: A program that covers all the basic functions of the iPad for immigrant entrepreneurs (i.e. points of sale, translation functions, bookkeeping, direct sales, tracking inventory, digital marketing, and mobile video conferencing).
Runner-up: New York Public Library—Blueprint for your Business Future: A program designed to provide immigrant business owners with the information and tools necessary to build and run their businesses so that they can be successfully sold in the future, and understand the transition planning process and how to value and sell their business.
In addition to CAMBA, Inc. and New York Public Library, the following organizations were named as finalists: