The Fulton Economic Development Corp. has announced the winners of its inaugural pitch competition. The organization says THE PITCH by FEDCO awarded a total of $10,000 to one startup and two existing businesses after their five-minute pitches to a panel of judges.
Six finalists competed for the prize money. To be eligible, businesses must have had less than $1 million in gross annual sales and fewer than 50 employees. The funding was awarded at the discretion of the judges.
The two existing businesses, Uncorked and Brooch Boutique, were each awarded $4,000. Uncorked, a beer and wine bar located in Rochester, plans to invest the money into an expansion that will include a rum bar. Brooch Boutique says it plans to expand online sales by launching a new shopping app.
The judges also awarded $2,000 to Crossroad Peppers, a startup business offering dry rubs and hot sauce.
"We’re really happy and encouraged about this first time event," said Amy Beechy, entrepreneurship program manager for FEDCO, "All of the contestants worked hard to prepare, the public came out to watch, and now we will support these businesses as they move forward and grow."
FEDCO says the winners must now execute their business or expansion plans no later than six months after receiving their awards. The existing businesses must also be in full-time operations with a primary office in Fulton County for at least two years.