A team of entrepreneurs will walk away with $20,000 to start a new company when the winners of the fourth-annual B-Launched competition are announced May 15 in Boise.
The second-place team will receive $10,000. The two winning teams will have a chance to receive up to $60,000 in additional start-up funding in November.
The four teams competing in the competition will present their business model and interview with judges during the morning at Trailhead at the corner of 8th and Myrtle streets. The winners will be announced during a lunch reception at Trailhead from 10:20 a.m. to noon.
The competition pairs teams of young entrepreneurs with volunteer mentors from the Treasure Valley business community. The contest has several new wrinkles this year, including adding a pool of advisers, a six-part educational workshop series outlining various topics for starting a business and expanded industry focus beyond technology companies.
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Five companies were launched by previous B-Launched teams: BeFree Village, Craysay, Follow & Fund, ADVailable, Bobec Apps and AgriGated. In four years, the contest has grown from five mentors and $25,000 in funding to more than 25 mentors and advisers and $90,000 in funding.
The Boise Metro Chamber of Commerce and its offshoot, Boise Young Professionals, sponsor the contest.