Youngstown, Ohio. June 3, 2015. The Youngstown Business Incubator and America Makes, the National Additive Manufacturing Innovation Institute, are preparing to launch a $100k technology startup competition called, “AMPED.” The competition has a focus on additive manufacturing, but contestants are also encouraged to submit business ideas related to business-to-business software and information technology.
Entrepreneurs, students and technology innovators from across the nation will have the opportunity to compete for up to $100,000 of investment funding and up to a $50,000 of in-kind professional services offered though the Youngstown Business Incubator. AMPED is not a traditional business competition in which cash prizes are handed out to the winners. Rather, it’s an investment opportunity for credible entrepreneurs looking to grow their early-stage start-up. Prize money will only be awarded to the team or teams that display strong business and technical acumen and have a viable business idea that can be taken to market. In order for finalists of the competition to be eligible to receive investment prizes, they must live or relocate in northeast Ohio.
From July 1 to August 14, 2015 September 11, 2015, contestants will be able submit their ideas via the third party business competition website, PitchBurner. Once all submissions have been reviewed, YBI will invite up to seven finalists to advance to the final round in Youngstown to present their ideas in front of a panel of experienced judges on November 2, 2015. The winning team or teams will then join YBI as a Portfolio Company where they will work toward taking their idea from an early stage start-up to a scalable business.
The University Business Incubator Index from Stockholm, Sweden recognized the Youngstown Business Incubator as the No. 1 University Affiliated Business Incubator in the world in September 2014. The UBI index global benchmark of business incubators includes most of the top universities in the world, notably Stanford, UC Berkley, Cornell, etc. In this context, YBI performs much better than its peers at top universities.
Located in Youngstown, Ohio, America Makes is the flagship institute for the National Network for Manufacturing Innovation (NNMI) infrastructure. America Makes houses the research management team, as well as a 3D printing demonstration facility. More information can be found on its website at americamakes.us.