They made their pitches for support of their entrepreneurial dreams, and now their efforts are paying off.
The Karen A Stout Start-Up Accelerator Fund at Montgomery County Community College recently announced it will award more than $50,000 in grant funding to five local business start-ups to help them further develop their businesses and reach their entrepreneurial goals.
Six local entrepreneurs were invited to present their business to a panel of judges at MCCC on February 28. Their business plans were judged based on such criteria as market and financial feasibility, value proposition, competition, and potential impact to Montgomery County and the region.
“All of the owners made strong pitches and were passionate about their businesses,” said Gaetan Giannini, dean of the Business and Entrepreneurial Initiatives at MCCC. “We carefully considered each presentation based on the strength of their business plans and where we felt we could have the greatest impact.”
Grant recipients include:
- GamePlan, a mobile app which helps people make personalized group decisions on where to eat and drink, received $4,000.
- NeuroFlow, a software solution which promises to change the way we see brain health, received $20,000 including $10,000 to be used for continue development and clinical expenditures, and another $10,000 to be awarded upon confirmation of FDA submission.
- Alpha Bravo Canine, a non-profit organization that provides service dogs to veterans diagnosed with PTSD, received $3,000.
- iCareQuality, a start-up firm which develops scalable, open-source technology to advance the science of the healthcare industry, received $15,000 to sponsor a clinical/implementation trial with a Montgomery County hospital.
- Cryten, which provides information technology staffing and recruitment services to organizations, received a $10,000 advance to be paid back in full to the Accelerator Fund within one year. However, for every Norristown resident or veteran hired by Cryten, within the year, the payback will be reduced by $2,000.
Established in the name of MCCC President Emeritus Karen A. Stout, the Fund provides grants ranging from $1,000 to $20,000 to promising business ventures. Grant recipients work with the College’s Center for Entrepreneurial Studies to set key milestones and deliverables in the start-up of their businesses and to monitor their progress and outcomes. The Fund is run by the Montgomery County Community College Foundation and the College’s Division of Business and Entrepreneurial Initiatives.
The first round of grant recipients was announced in 2016, and the Accelerator Fund continues to work with those recipients to further develop their businesses. The College is preparing to receive business plans for the next round of aspiring entrepreneurs in the fall.