The Challenge is a $28,000 cash prize business plan competition to identify, encourage, and reward excellence in entrepreneurship in the St. Louis Metro East region (now including Fayette, Macoupin, and Montgomery Counties). For the 11th year, Leadership Council Southwestern Illinois and SIUE School of Business are the competition's cornerstone sponsors. Growth Corp has also been a longstanding supporter. 2024's Networking Event Platinum Sponsor, BMO Harris Bank, and Gold Sponsor, Ameren Energy Efficiency Program, are hosting this year's Mentor-Semifinalist Networking Event. The SIUE School of Business and Illinois Small Business Development Center for the Metro East at SIUE (SBDC) are facilitating the competition.
The purpose of the challenge is to:
The first place winner will receive a $10,000 cash prize accompanied by an array of in-kind professional services.
Second, Third, and Fourth Place winners will receive a $6,000 cash prize, $4,000 cash prize, and a $2,000 cash prize, respectively, along with many in-kind professional services
This year for the MESC's 11th Anniversary, the Woman,Minority or Veteran prize will be separated into 3 specific $1,500 prize opportunities. The City of O'Fallon (IL) is sponsoring the Veteran owned Business Prize. Justine Petersen is the Minority owned Buisness Sponsor and Bank of Springfield is sponsoring the Woman owned Business Prize.
The Rural Business of the Year Prices (also worth $1,500) is again being offered through the generosity of Dieterich Bank.
To qualify as a Rural business, the entity must be located in and meet the USDA definition of Rural: population of less than 50,000 and the contiguous area around the urban area. Woman, Minority or Veteran must possess at least 51% ownership in the company
If you are interested in sponsoring and/or providing in-kind services for The Metro East Startup Challenge, please click here to learn more!
