Impact Pitch Contest Overview

Mission Statement

IMPACT Pitch is a business competition for small businesses in the Pacific Northwest region highlighting their positive impact in their local communities.

The mission of Business Impact NW and the IMPACT Pitch Competition is to grow businesses to create jobs in underserved communities.

The Competition

Anyone with a business license from Washington, Oregon, Alaska, or Idaho is welcome to take part.  If you do not have a business license yet, you must get a business license from your state by June 8, 2023 to take part in the competition. Business Impact NW coaches can assist you with this if you email impactpitch@businessimpactnw.org.

The three business stage categories that contestants will compete in are:

• Startup/Idea Stage Business
• Early-Stage Business
• Established Business

Definitions of these terms are found below in the “Eligibility” section of these rules.

The competition will have 5 rounds:

• Round 1: Value Proposition and Impact, Online Application Due June 8, 2023, at 5pm PST
• Round 2: Market, Revenue, Operations and Strategy, Online Application Due July 6, 2023, at 5pm PST
• Round 3: Financial Feasibility, Online Application and Excel Workbook Due August 14, 2023 at 5pm PST
• Round 4: Intro Video, Online Video Upload Due September 11, 2023 at 5pm PST
• Round 5: Live Pitch, PowerPoint Presentation Due September 25, Live Pitch October 5, 2023, at 3pm

Prizes totaling $36,000 will be given out to award winners at different points in the competition.  Award winners will be paid by check written to the business name listed in the Round 1 Application and mailed to the mailing address included in the Round 1 Application.

• 6 Community Impact Awards of $1,000 each and guaranteed advancement into Round 3, winners informed by email July 20, 2023
• 10 finalists will receive a $1,000 Finalist Award and a 1-year subscription to Canva Pro, winners informed by email August 28, 2023
• Award of $1,000, winner selected at the live pitch event October 5, 2023
• 3 Grand Prizes of $6,000 for the winners of the competition, 1 in each business category: Startup/Idea Stage, Early Stage, and Established Stage, winners informed at the live pitch event October 5, 2023

The contest will be hosted in English.  Contestants who have access requests (for example, another language or any other type of accommodation) should write their specific ask in the Round 1 Application or email impactpitch@businessimpactnw.org by May 19, 2023.

To request accommodations on account of a disability, please contact us at impactpitch@businessimpactnw.org.

Eligibility

Competition is open to:

• Legally registered Washington, Oregon, Idaho, or Alaska based businesses that have a direct impact in their immediate community.  Businesses may apply who are in any stage of business, with or without sales, but must obtain a business license prior to entering Round 1.  Guidance on obtaining a business license is available through Business Impact NW or email impactpitch@businessimpactnw.org.

• Contestants must have access to a computer, an email account and internet to complete competition requirements. Contest Applications will be found at businessimpactnw.org/contest beginning on May 4, 2023.  When a new round begins the application page will be updated with the new application for that round.  This is also the web address where resources and help in the competition can be found, in addition to the instructions that will be sent to the email address listed in the Round 1 Application.

• All contestants who advance to the final round, Round 5: Live Pitch, will be required to compete on October 5, 2023 at 3:00pm PST. Finalists can do their live pitch in person at Imperia Lake Union, located at 3119 Eastlake Ave E, Seattle, WA 98102, or via Zoom video call from any location.  Finalists are strongly encouraged to participate in person the day of the event.  Business Impact NW cannot guarantee the quality of the audio, video, or internet for finalists who pitch virtually.

• Startup/Idea Stage Businesses: For the purposes of the competition, startup or idea stage businesses are defined as businesses that do not have any sales or revenue yet.
• Early Stage Businesses: For the purposes of the competition, early stage businesses are defined as any business that does have sales or revenue and with less than $75,000 of  gross sales last year or less than two years in business.
• Established Stage Businesses: For the purposes of this competition, established businesses are defined as any business with more than $75,000 in gross sales last year or in business for more than two years. Established businesses must meet the Small Business Administration (SBA) definition of a small business enterprise, which is a business with less than 1,500 employees and no more than $38.5 million in annual revenue.

• Businesses that can qualify as both early stage and an established business can only compete in one category. We recommend that contestants get guidance from coaches on which category they will be the most competitive by indicating this in the Round 1 Application, or emailing impactpitch@businessimpactnw.org.
• Entities that are tax-exempt organizations, non-profits, or charitable trusts are not eligible to participate.
• Employees, officers, and directors of Business Impact NW, competition judges, other parties determined non-independent of Business Impact NW, and members of their immediate families and household are not eligible to participate.
• Business Impact NW reserves the right at its sole discretion to disqualify any applicant for any reason.
• Prior winners of Business Impact NW IMPACT Pitch that won a grand prize award are not eligible to participate in future contests.

Important Dates and Commitments

Round 1: Value Proposition and Impact: Contestants will fill out an online application giving information about their business and describing their value proposition and community impact.  The application includes detailed instructions as well as advice on how to be successful with your answers.  Please plan for 1-3 hours to complete this part of the application.  Answers can be given verbally, written, and in any language. Plan for the following dates:

• June 8, 2023: Online Application Submission by 5:00 pm PST. Contestants will be assigned a Business Coach to meet with at any point in the competition.
• June 22, 2023: Contestants will be informed whether they will be moving to the next round by email. Contestants who move to Round 2 will get access to question and answer sessions, and other material to help with the contest.

Round 2: Market, Revenue, Operations and Strategy: Contestants will fill out an online application that will explain their business in more depth.  The application includes detailed instructions as well as advice on how to be successful with your answers.  Please plan for 1-6 hours to focus on the answers that can also be given verbally, written, and in any language. Plan for the following dates:

• July 6, 2023: Submissions are due by 5:00pm PST
• July 20, 2023: Contestants will be informed by email if they will be moving into Round 3 and Community Impact Awardees will be notified. Contestants will get access to question and answer sessions, and other material to help with the contest.

Round 3: Financial Feasibility: Contestants will be given financial planning Excel workbooks to show how their business will succeed financially with 2-3 year financial projections of their business. Questions will be included in the workbook that promote market research and solidify financial assumptions of their business. Contestants will include a feasibility statement. Plan to utilize up to 15 hours for this section, as it is more in depth and time consuming that previous rounds.  The workbook is offered in English. Assistance to contestants fluent in other languages will be provided upon request by emailing impactpitch@businessimpactnw.org.  Plan for the following dates:

• July 31 – August 11, 2023: Contestants are required to meet with their assigned business coach during this time.
• August 14, 2023: Submissions are due by 5:00pm PST.
• August 31, 2023: Contestants will be informed if they will move into the final rounds and Finalist Grant winners will be informed. Contestants will get access to coaching, Question and Answer sessions, and other material to help with the contest.

Round 4 Introduction Video: This video will serve as your introduction for the live pitch event. We anticipate that contestants will spend 3-5 hours planning and executing their 45 second Introduction Videos. Your Introduction Video must include your value proposition, target market, and your business’ social impact.  The videos must not have any sexually explicit, narcotic, or political content.  The video does not have to be professionally created.  All finalists must complete and submit an introduction video to proceed to Round 5: Live Pitch.  Please plan for the following dates:

• September 11, 2023: Introduction Video Submissions are due for online upload by 5:00pm PST.

Round 5: Live Pitch: Contestants will prepare and refine their pitch presentations for the live pitch in front of judges in a competition for grand prize award money. Please plan for the following dates:

• August 31, 2023: Finalists advancing to the Live Pitch are chosen
• September 11, 2023: Introduction Video Submissions are due for online upload by 5:00pm PST.
• September 25, 2023: Presentation Slides (PowerPoint) are due at 5pm PST
• September 26, 2023: Pitch Practice with Business Coaches
• September 27, 2023: Final Presentation Slides Revisions due (for those who utilized pitch practice)
• October 4, 2023: Each Finalist will do a Pitch Rehearsal 10:00am-3:30pm
• October 5, 2023: Live Pitch Event (Arrive by 3:00pm PST)

Participants must be logged-in (if presenting remotely) or arrive at the venue (if presenting live) by 3:00 pm for dress and tech rehearsal. (Exact times subject to change)

Prizes to be Awarded:

All financial prizes are unrestricted and can be used in any way by the awardee.

Community Impact Awards ($1,000 x 6)

We will award six $1,000 prizes to the businesses who complete the first 2 rounds with narrative descriptions that demonstrate exceptional community impact, that are part of socially and economically disadvantaged communities. These persons are women and members of the following groups: Black/African American, Hispanic/Latino, American Indian, Native Alaskan, Asian, Pacific Islander, Native Hawaiian, LGBTQ+, Immigrant/Refugees, veteran/military-connected individuals, and individuals with disabilities.

Finalist Grants ($1,000 x 10)

10 finalists will be chosen based on the highest overall scores in their business categories.  Each of our finalists automatically receives an unrestricted prize of $1,000 upon making it into the final round.

Live Pitch Audience Voting Award ($1000 x 1)

The Pitch Finalist with the highest combined live audience votes will receive an award of $1,000 to be announced at the Live Impact Pitch event.

Grand Prize Winners ($6,000 x 3)

During our live event October 5, judges will award one business in each of the three business stage categories with a $6,000 grand prize based on Pitch Content and Pitch Delivery as determined by the judges (full rubrics for all rounds can be found below).

Other Rules and Regulations

• Void Where Prohibited by Law: The Competition is subject to all applicable federal, state and local laws and regulations and is void in any jurisdiction where it is prohibited by law or regulation.

• Competition and Official Rules Subject to Modification by Business Impact NW (BIN): The Competition and these Official Rules are subject to modification, cancellation, or limitation at any time at BIN’s sole discretion, with or without notice, including to persons who have already entered the Competition. All changes to or modifications of the Competition or these Official Rules will be posted on the BIN website (www.businessimpactnw.org). BIN’s failure to enforce any provision of these Official Rules shall not constitute a waiver of that provision.

• General Conditions of Participation in This Competition: Except where prohibited by law, submission of an entry constitutes the applicant’s consent, for purposes of advertising, trade, promotion, and publicity, to permit BIN and its affiliates, without notice or further compensation, a royalty-free, irrevocable, perpetual, non-exclusive license to use, reproduce, modify, create derivative works from and display in any and all forms of media, now known and hereafter devised, such applicant’s name, likeness, pictures, photographs, video, voice, biographical information, and statements. If necessary, applicants will sign any documentation that may be required for BIN or its affiliates to make use of these rights granted by applicants. Once submitted, all entries become property of BIN and will not be returned. All Semi-finalists will be required to submit an IRS Form W-9 in order to continue participation in the Competition. The determination of which applicants advance to successive stages of the Competition, and which applicant is the ultimate winner of the Competition, shall be in BIN’s and the judges’ sole and absolute discretion, as applicable, and each applicant hereby acknowledges that none of BIN, its affiliates nor their respective officers, directors, employees, and agents including outside attorneys, shareholders, representatives, successors, and assigns shall be liable in any way for the selection of, or failure to select, any applicant to advance in the Competition.

• Similar Entries: By submitting an entry, each applicant acknowledges and agrees that BIN may obtain many entries in connection with this Competition and other competitions staged or promoted by BIN, and that such entries may be similar or identical in theme, idea, format or other respects to other entries submitted in connection with this Competition or other contests sponsored by BIN or submitted for other reasons or other materials developed by BIN. Each applicant waives any and all claims against any BIN. Party that he, she or it may have had, may have, or may have in the future, that any Competition entry or other works accepted, reviewed or used by the applicant may be similar to his, her or its Competition entry, or that any compensation is due to the applicant in connection with the entry or other works used by a BIN Party. Each applicant agrees that no BIN Party shall have any responsibility for any unauthorized use of any Competition entry by third parties.

• Disqualification: BIN reserves the right, in its sole discretion, to disqualify any applicant for any reason, including, but not limited to, for the submission of any incomplete entry or any entry not complying with these Official Rules, or any applicant that it finds to be: (i) tampering with the entry process or otherwise tampering with the operation of the Competition, the Competition website, or any other website or web banner ad related to the Competition; (ii) acting in violation of the Official Rules; (iii) acting in a non-sportsmanlike or disruptive manner, or with intent to annoy, abuse, threaten, harass, harm, mislead, or defraud any other individual or entity; or (iv) otherwise in violation of law, in each case as solely determined by BIN. Any person attempting to defraud BIN or any other applicant or in any way tamper with the Competition will be ineligible to compete in or win the Competition and BIN may seek any and all remedies available to it, including, if appropriate, filing complaints with legal authorities.

• Website or Competition Corruption: If for any reason, in BIN’s sole discretion, the Competition is not capable of running as planned or if the administration, security, fairness, integrity, or proper conduct of this Competition is corrupted or adversely affected, BIN reserves the right to cancel, terminate, modify or suspend the Competition.

• BUSINESS IMPACT NW RESERVES THE RIGHT, AT ITS SOLE DISCRETION, TO MODERATE ALL ENTRIES FOR COMPLIANCE WITH THESE OFFICIAL RULES OR TO DISQUALIFY ANY ENTRY THAT IT FEELS IS INAPPROPRIATE, OBJECTIONABLE OR INCONSISTENT WITH THE POSITIVE IMAGE OR GOODWILL IT WISHES TO PROMOTE IN THE COMPETITION. UNLESS OTHERWISE NOTED, ALL 11 SCORING, JUDGING AND ADVANCEMENT DECISIONS WILL BE COMPLETED AT THE SOLE DISCRETIONOF A PANEL OF BUSINESS IMPACT NW EMPLOYEES.

• ALL APPLICANTS ACKNOWLEDGE AND AGREE THAT ALL ENTRY MATERIALS SUBMITTED IN CONNECTION WITH THIS COMPETITION ARE SUBMITTED ON A NON􀀀CONFIDENTIAL AND NON􀀀PROPRIETARY BASIS AND MAY BE USED BY BIN AND ITS AFFILIATES FOR ADVERTISING AND PROMOTIONAL PURPOSES INCLUDING, BUT NOT LIMITED TO, IN CONNECTION WITH THE COMPETITION WEBSITE. APPLICANTS AGREE THAT THEY WILL NOT USE THE ENTRY MATERIALS FOR ANY OTHER PURPOSE WITHOUT THE EXPRESS CONSENT OF BIN IN EACH INSTANCE.

• Limitation of Liability: BIN is not responsible or liable for entries that are illegible, late, forged, destroyed, lost, misplaced, stolen, misdirected, tampered with, incomplete, deleted, damaged, garbled, altered, or otherwise not in compliance with these Official Rules, whether caused by BIN, the applicant, or anyone else.

• Applicants’ Own Work: Each applicant’s submission must be entirely their (or in the case of a team effort, the team’s) own original creation and must not infringe upon or violate any laws or any rights of third parties, including, but not limited to, such violations as infringement of copyright, patent, trademark, trade secret or other proprietary or property right, libel, defamation, violation of rights of privacy, publicity, personality or celebrity, or any contract right, or any other right of any individual, corporation or entity. Each applicant must obtain all necessary permissions, licenses, clearances, releases, waivers of moral rights and other approvals from third parties (including but not limited to all copyright holders and all individuals appearing in a video submission), necessary to use the submission, in whole or in part, in any way, including without limitation, to reproduce, make derivatives, edit, modify, translate, distribute, transmit, publish, license and broadcast worldwide, by any means. Any and all such permission, licenses, clearances, releases, waivers of moral rights and approvals must be provided to BIN upon its request. No BIN party shall be responsible to any third-party for any applicant’s failure to comply with this provision, and each applicant agrees to indemnify the BIN parties for any such claim.

• Voting: If any applicant is found to be soliciting votes in return for a purchase or payment of any kind, or any other form of consideration or inducement, the applicant may be disqualified at BIN’s sole discretion. Applicants are prohibited from obtaining votes by any fraudulent or inappropriate means or practices, including, without limitation, offering prizes, payments or other inducements, to members of the public or using any website designed to induce individuals or provide other incentives to vote for the applicant’s entry, as determined by BIN in its sole discretion, and BIN reserves the right to disregard any votes that it deems ineligible or fraudulent. The use of scripts, macros or any automated system or practice to vote or with the intent to impair the integrity of the voting process is prohibited and all such votes will be void. Any attempt by any voter to obtain more than the stated number of votes by using multiple accounts, identities, registrations or logins, or any other method will void that voter’s votes and that voter may be disqualified. BIN reserves the right to select alternate finalists should the voting appear to be tampered with or manipulated in any way.

• Affidavit & Release: As a condition of receipt of the award, the winner of the Competition will be required to execute and deliver to BIN a signed Affidavit of Eligibility, which includes an acceptance of these Official Rules and a release of liability.

• Notice to Winners: As a condition of receipt of the award, the winner of the Competition will be asked to agree that the funds awarded are solely to fund the business described in the winner’s entry form. Funds awarded are nontransferable and may be considered taxable income, and the BIN parties assume no responsibility with respect to any tax liability incurred by the winner in connection with the award; applicants are advised to consult with their tax advisors for more information. BIN reserves the right to contact the winner on a regular basis for a period of one year after completion of the Competition to check on status, and will ask for a summary within twelve (12) months as to how well the funding met the expectations of the applicant. Items within this summary may be published by BIN.

• Release and Waiver: By entering the Competition, each applicant irrevocably agrees and acknowledges to be bound by the Official Rules and all applicable laws and decisions of BIN which are final and binding in all respects; to forever and irrevocably waive all of his, her, or its rights to claim ambiguity with respect to the Official Rules and to waive all of his, her, or its rights to bring any claim, action, or proceeding against any BIN party in connection with the Competition; and to forever and irrevocably release, indemnify, and hold harmless the BIN parties from any liability (including, but not limited to, liability for defamation, libel, slander, invasion of privacy, infringement of publicity or any intellectual property rights, any property loss, damage, personal injury, bodily injury, death, expense, accident, delay, inconvenience or irregularity, and any indirect, incidental, consequential, special, punitive or exemplary damages of any kind, even if a BIN party has been advised of the possibility of such loss or damages), costs and expenses (including, without limitation, reasonable outside attorneys’ fees) that may arise from, result from, or are in connection with: (a) the Competition including, but not limited to, any Competition-related activity or element thereof and the applicant’s entry, participation, or inability to participate in the Competition; (b) the violation of any privacy, personal, publicity or proprietary rights; (c) typographical errors in these Official Rules or any Competition promotional materials; (d) any change in the prizing (or any components thereof) due to unavailability, business or creative considerations, or reasons beyond BIN’s control or as otherwise set forth in these Official Rules; (e) any interruptions in or postponement, cancellation, or modification of the Competition; (f) human error; (g) incorrect or inaccurate transcription, receipt, or transmission of any part of the Competition entry; (h) any system, computer timing or dating mechanism, computer equipment, software, or Internet service provider utilized by BIN or by an applicant; (i) interruption or inability to access the Competition, the website, or any other Competition-related websites or any online service via the internet due to hardware or software compatibility problems; (j) any damage to applicant’s (or any third party’s) computer or its contents related to or resulting from any part of the Competition; (k) any lost or delayed data transmissions, omissions, interruptions, defects, and/or any other destroyed, incomplete, undeliverable or damaged Competition entries; (l) any wrongful, negligent, or unauthorized act or omission on the part of a BIN party; (m) the public voting or the tabulation of the votes, or (n) the selection by any BIN party or its advisors of the finalists.

• Disputes: Except where prohibited, all issues, questions and disputes concerning the construction, validity, interpretation, and enforceability of these Official Rules, or the rights and obligations of the applicant and BIN in connection with the Competition, shall be governed by, and construed in accordance with, the laws of the State of Washington, without giving effect to any choice of law or conflict of law rules (whether of the State of Washington or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Washington. By entering, applicants consent to the jurisdiction and venue of the federal, state and local courts located in Seattle, Washington.
• Additional Considerations: Business Impact NW will NOT offer credit to business entities whose nature is contrary to our mission and to the reasons we provide financial services. The following businesses are excluded from this competition: Any business engaged in illegal practices; Companion, escort and dating services; Massage parlors; Sexual encounter clubs, organizations and websites; Sexual in nature businesses such as bikini barista stands; Growth, processing, or retailing of cannabis; Gun shops; Tanning salons; Lotteries or raffle; Pornographic material; Pyramid schemes, multi-level sales, etc.; Gambling establishments or casinos; Pawnshops; Check cashing, pay day lending

This Competition is sponsored and administered by Business Impact NW, 12720 Gateway Dr. Suite 207, Tukwila, WA 98168.