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NYC Business Innovation Challenge is an initiative of NYCEDC with the support of Next Street. The Competition will challenge businesses and organizations in New York City to propose and implement innovative and sustainable programs and business models that will help foster upward income mobility for low-income and/or low-skill and middle-skill workers. The goal of the Competition is to generate replicable and scalable programs that improve the condition of low-income workers while also increasing the productivity and profitability of NYC businesses.
View this video to learn more about the Competition.
In the first phase of the Competition, Contestants submitted proposals for programs and/or business that would help foster upward income mobility for low-income and/or low-skill and middle-skill workers. The top 15 most innovative proposals have proceeded to the Pilot Phase, each of whom will receive $25,000 in cash prizes to implement their plans.
Throughout the Pilot Phase, Contestants will receive advisory support, training, and assistance on a variety of business disciplines from the award-winning consultancy Next Street. At the conclusion of Pilot Phase, a panel of judges will examine the operating results of the pilot programs. Three winners will be selected and each will be awarded a cash prize of $100,000 along with recognition from the City for being a top NYC workforce innovator.