The Competition

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 and the Garfield 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. 

Finalists

Five finalists have been selected from more than 40 entires. Finalists include:

• Brooklyn Alliance, Inc. (Brooklyn Chamber of Commerce) - Go! Digital: Boot camp program to give immigrant firms immediate access to experts and tools to establish an online presence.
• CAMBA Inc. - Mobilize Your Business: Using the Tablet for a Competitive Edge: A program that covers the 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). 
• Coalition for Queens - Access Code: An 8-week, 50-hour tech education and entrepreneurship development program that provides immigrant entrepreneurs with the skills & mentorship to build and launch high-tech companies.
• New York Public Library - Workshop series: 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.
• Start Small Think Big - Immigrant and Minority Entrepreneurship Pipeline Program: A six-month business leadership development program offering a unique opportunity for low- to moderate-income immigrant and minority entrepreneurs who are seeking more comprehensive supports and networks to scale their business and access and leverage capital by providing specialized financial, legal and operational support. 

The judges selected the five finalists to develop their proposals. Each of the five finalists will be 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 will be selected to receive funding of $100,000 and promotional services to further scale their program.

Prize Structure

Round I: $25,000 awarded to five semi-finalists to pilot their program and create a business plan
Round II: $100,000 to one grand prize winner plus promotional services to further scale their program

Key Dates

Round I:

• Entrant Submission Period
  Feb 1 - March 7, 2013
• Information Session
  February 7, 2013
• Submission Deadline
  March 7, 2013 (midnight)
• Finalist Announcement
  April 2013