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By DAVE DOMESCIK | Staff Writer

MONTEVALLO – Businesses located in the Montevallo Main Street district have an opportunity to present themselves for a sizable cash prize.

Montevallo Main Street has announced the 2024-2025 Bright Ideas Pitch Business Competition. The competition is open to businesses who have been in operation in the Main Street district for more than one year as of Oct. 1, 2024. Winners of the competition will win a share of Montevallo Main Street’s $10,000 Bright Ideas local grant pool. Three grants will be awarded with one $5,000 top prize and two $2,500 prizes.

Courtney Bennett, the executive director of Montevallo Main Street, gave a brief overview of the contest and what inspired its creation.

“Bright Ideas is a brand new program that we are excited to bring to downtown Montevallo,” Bennett said. “Bright Ideas is powered by AL SPARK, a new Main Street Alabama initiative to energize emerging and growing businesses in Designated Main Street Alabama Districts across the state. Bright Ideas is supported by funding from the U.S. Small Business Administration. Main Street Alabama is our statewide coordinating program that stresses public-private partnerships, broad community engagement and strategies that create jobs, spark new investment, attract visitors and spur growth. Through Bright Ideas, they are supporting that goal by allowing Designated Main Street Programs to provide targeted financial support to local businesses.”

The contest will consist of businesses pitching their brand, mission and general aims as entities in Montevallo Main Street. These businesses can use the money from winning the competition towards various uses.

“Eligible expenses are limited to inventory, equipment, marketing, computers and software upgrades,” Bennett said.

Bennett made sure to emphasize that, even though not everyone can win the grant money involved in the contest, the event itself is still rewarding for the businesses who choose to enter.

“Even for businesses who enter the contest but are not awarded a prize, the exercise of looking at where their business is now, and then where they want to go, as well as getting practice in formulating a pitch will be helpful to them in the long run,” Bennett said. “They may decide they want to pursue the project anyway and can use the information in their application to seek alternative funding. In addition, they may build relationships along the way that will help their business in the long run. Our friends with the University of Montevallo Michael E. Stephens College of Business are willing to assist in formulating the pitch through their Falcon Consulting program that is held at the City Annex at 540-A Main Street. We are a college town and this is a great opportunity to continue to strengthen the relationships between the university and downtown.”

The application process for the event is detailed, and Bennett took time to outline all the steps businesses need to take when entering the competition.

“The first step will be to complete a written application by Jan. 20, 2025,” Bennett said. “Applications will be reviewed on a rubric by a panel of neutral individuals who have business expertise. Then, finalists will be asked to create a three minute video pitch based on what they would do with up to $5,000. Montevallo Main Street will award our three prizes by Jan. 31, 2025, and will send one business to the State Regionals Competition that will be coordinated by Main Street Alabama in the spring.”

Overall, the Montevallo Main Street Bright Ideas Business Pitch Competition gives businesses in Montevallo the chance to grow both financially and holistically. Bennett believes that these businesses are key to the success of Montevallo as a whole.

“We always want our downtown businesses to thrive,” Bennett said. “Through programs such as Bright Ideas, as well as the other things we offer such as Façade Grants and Co.Starters, our goal is to make sure our business owners are in the best position for them to succeed. Not only do we want Montevallo to be a great place to live and work, but we also know it’s a fabulous place to visit. Memorable, well-supported and well-loved local businesses are at the heart of that.”

For more information on the competition, visit Cityofmontevallo.com.