New competition aims to spur entrepreneurship

Local business leaders and economic development partners are putting their minds and resources together in an attempt to spur more innovation and entrepreneurship in Cape Girardeau.

These partners have begun a new competition, called the 1st50K.

According to a recent story written by Erin Ragan, the competition will take applications yearround. Cash grants will be up to $50,000 and will be coupled with pro-bono business services and access to successful entrepreneurs.

Winners will be recommended by a committee of entrepreneurs, private investors and technical experts in relevant fields. The venture group board will decide which applicants receive the grant.

The first-round deadline for the competition is April 17, according to a webpage that has been set up at 1st50k.codefiworks.com. You may go to that site to learn more specifics about the competition.

This is an exciting project for Cape Girardeau. The first $50,000 of any startup is difficult to obtain. We look forward to finding out what innovation will be developed in Cape as a result of this commitment to entrepreneurship.