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Vision Fund committee forwards Bismarck Business Pitch Challenge to City Commission with proposed $10,000 top prize
Summary
The committee recommended the City Commission consider a Bismarck Business Pitch Challenge modeled after Mandan’s program, proposing a $10,000 top prize and eligibility rules (Bismarck or within 10 miles); members asked staff to refine revenue‑cap and frequency before commission review.
The Vision Fund Committee voted Sept. 25 to forward a proposal for a Bismarck Business Pitch Challenge to the City Commission for further consideration.
Nathan (Chamber EDC economic development staff) presented a proposal modeled on the Mandan Business Pitch Challenge and said the program’s purpose is to help startups refine plans and pitches, provide mentorship and exposure, and connect finalists to financing and coaching through the North Dakota Small Business Development Center. He said organizers would aim for a 2026 application window, mentorship and a public pitch night with four finalists who give five to seven minute presentations followed by judges’ questions.
Nathan described proposed prizes that would include a top prize of $10,000 from the Vision Fund and runner‑up awards of $3,000 and $2,000, plus in‑kind legal, accounting and marketing support. Eligibility proposed mirrored Mandan’s geographic cutoff (within the city or 10 miles outside). The proposal suggested applicants be less than two years old and have cumulative revenue under $250,000; several committee members questioned that revenue cap and suggested revising it (one member proposed considering a higher cap or a longer eligibility period).
Members discussed whether the Vision Fund should sponsor a boot camp; Nathan said the Chamber EDC would lead a boot camp while Vision Fund dollars would be better targeted as prize money. Committee members asked staff to refine the revenue‑cap and timing assumptions before the City Commission consideration.
A committee member moved to forward the concept, the motion was seconded, and the committee approved the recommendation by roll call vote.
Nathan said next steps include refining the timeline and budget, coordinating with Mandan staff on cross‑river roles, developing the application and seeking sponsorships and partners if the commission approves the concept.
