BLOOMINGTON – The Mill, Bloomington’s nonprofit center for entrepreneurship, announced that applications for the 2023 Crossroads Idea Competition are now open.
The competition is open to Indiana-based founders who have innovative ideas for startup businesses. The winner will receive a $2,500 investment from the Flywheel Fund.
In addition, The Mill is offering a second stand-alone prize of $1,000 cash, sponsored by Duke Energy Foundation, for ideas that solve an environmental problem by addressing conservation, climate change, natural disaster preparedness, or other issues of climate resiliency.
“The Crossroads Idea Competition fuels the earliest stage of innovation,” said Bram Boyd, Program Manager for Crossroads. “We want to encourage Indiana innovators to take action on their ideas and explore building a company. With feedback from judges and a little cash, they can take the next step. We’re especially excited to see new environmental solutions in this year’s competition.”
This is the fourth year of the Crossroads Idea Competition. Applicants submit a three-minute video describing the problem they’re solving, their target customer, their solution, and their plan to create revenue. A team of independent judges from around the state, with expertise in entrepreneurship and business, will review all the applications in mid-December. The finalists will pitch their ideas, Shark Tank–style, via Zoom on December 20.
All applications will be considered for both the top prize of a $2,500 investment and the $1,000 cash Climate Resiliency Award from Duke Energy Foundation.
“The Crossroads Idea Competition is an easy way to explore whether an entrepreneurial idea has legs,” explained Andy Lehman, Head of Accelerator Programming for The Mill. “Contestants don’t have to pitch their ideas live, and everyone receives feedback from the judges, regardless of whether they win. Past winners have gone on to participate in entrepreneurial programming and win further investments. It’s always exciting to see the next wave of startups emerge.”
Past winners include Quiptu, a peer-to-peer outdoor equipment rental site; WayZada, a maker of 3D commemorative items for athletes, and Celadore, a specialized acoustic podium for cellists.
The deadline to apply to the competition is December 6, 2023. Learn more and apply at: https://www.dimensionmill.org/crossroads-idea-competition/
About The Mill
The Mill is the heart of southern Indiana’s startup ecosystem. A 501(c)3 nonprofit, its mission is to spark Bloomington’s innovation economy by launching and accelerating startups, and its vision is to become Indiana’s center of gravity for entrepreneurship. For more information, visit https://www.dimensionmill.org/.
