YBI launches startup competition

YBI

YOUNGSTOWN, Ohio (WYTV) – The Youngstown Business Incubator and America Makes (National Additive Manufacturing Innovation Institute) have partnered to launch AMPED, a $100,000 technology startup competition with a focus on additive manufacturing.

Entrepreneurs, students and technology innovators from across the nation are invited to compete in the first AMPED YBI $100,000 Technology Startup Competition. Teams 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 plan competition in which cash prizes are handed out to the winners. Rather, it’s a funding opportunity for credible entrepreneurs looking to grow their early-stage startup.

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. Beginning July 1, the first round of the competition will involve the submission of business concepts 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 Nov. 2.

The winning team(s) will then have the opportunity to join YBI as a Portfolio Company and will work toward taking their idea from an early stage startup 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.

Located in dowmtown Youngstown, America Makes is the first institute in the National Network for Manufacturing Innovation. America Makes houses the research management team as well as a 3D printing demonstration facility. More information can be found on the America Makes website.

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