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.
Congratulations to the South Bronx Overall Economic Development Corporation (SoBRO) on winning the third annual Competition THRIVE. SoBRO is a not-for-profit community organization that has provided adult education, workforce training and financial assistance to businesses and residents in the Bronx since 1972.
After running a five-month pilot program, SoBRO will be using the $100,000 Competition THRIVE winnings to further implement and develop their newly formed United Business Cooperative, a restaurant retailer’s cooperative that represents immigrant restaurant owners who are working together to centralize buying, delivery, and business operations to realize cost savings and provide healthier options to Bronx residents and visitors.
Competition THRIVE challenges organizations to develop proposals that promote scalable, growth opportunities for New York City’s immigrant-entrepreneurial community. Plans should be innovative and enable immigrant entrepreneurs to start, operate, and expand their businesses in New York City.
Finalists were selected by a panel of judges comprised of business, non-profit, and academic leaders, and representatives from New York City government, based on the utility, scalability, and sustainability of their proposals. The finalists and their programs include:
Business Outreach Center Network: BOC Network will combine training and networking activities to support immigrant-owned construction businesses by creating a cohesive support system that will promote the concept of teaming to immigrant-owned businesses, providing necessary skills, and specialized support.
National Community Reinvestment Coalition (NCRC): NCRC will blend bonding opportunities with technical assistance through the Bond Portal, a unique web application that will serve immigrant entrepreneurs by addressing two key components of growing their businesses: access to capital and local business connections.
Urban Justice Center/Street Vendor Project: The Street Vendor Academy will provide comprehensive training to build food-cart vendors compliance strategy, financial, technological, marketing and customer service skills.
South Bronx Overall Economic Development Corporation: The Bronx Restaurant Retailers Coop will represent immigrant restaurant owners who are willing to work together to centralize buying, delivery, and storage operations to realize cost savings and provide healthier options to Bronx residents and visitors.
The Working World: The Worker Owned Rockaway Cooperatives project will maintain the strength of the existing cooperatives and support immigrant leadership of the program through the launch of a six-month fellowship program. Worker cooperatives represent an innovative and creative alternative to more traditional business structures. All members of a cooperatively-run business share the labor, decisions, responsibilities, profits, and ownership shares.
Round I: $25,000 seed grant for program development awarded to five finalists
Round II: $100,000 program grant, promotional services, awarded to one grand prize winner
Any questions should be addressed to Eleni Bourinaris at 212-312-3896 or Ebourinaris@edc.nyc