LANSING — On Wednesday, June 25, the monthly pitch competition called “The Hatching” will celebrate its first anniversary at Beggars Banquet in East Lansing.
The competition was created by the Lansing Economic Area Partnership, the capital region’s economic development agency; Spartan Innovations, a Michigan State University research spinout accelerator; and the New Economic Opportunity Center, a Lansing business incubator.
The Hatching is a monthly networking event and contest for budding
entrepreneurs to experience pitching — and developing their ideas into working, local businesses.
Since The Hatching’s inception in June 2013, 95 business ideas have been submitted to www.thehatching.org, and 4,000 votes have been cast for these ideas. So far, 12 companies have been created, generating 18 new jobs.
Each month, entrepreneurs are invited to submit their business startup idea to the website. Through a popular vote, five ideas move to the final stage and those entrepreneurs are asked to pitch at The Hatching event. Each innovator has the opportunity to pitch their idea for five minutes in front of a panel of judges and their peers. The winning idea receive s$1,000 to be used for startup costs as well as legal services provided by Loomis, Ewert, Parsley, Davis & Gotting P.C. To receive funding, startup companies must create an LLC and be ready to start their business in the Lansing area.
Each of the monthly winners will earn the opportunity to pitch again at The Hatching finale event held in December, for the chance to win $10,000 to cover business expenses.
“The Hatching connects people from all walks of life, including entrepreneurs, innovators, millionaires, students, inventors, faculty, and community leaders,” said Bob Trezise, LEAP president and CEO. “Each event has its own class of entrepreneurs that will graduate into the entrepreneurial ecosystem LEAP and our partners are building and then will have access to every service and resource a new startup could imagine.”
The Hatching is open to public and takes place the last Wednesday of each month at Beggar’s Banquet in East Lansing at 6 p.m.