LIHUE — Entrepreneurs on Kauai will be competing in the island’s own unique version of Shark Tank, when Rotary Club of Hanalei Bay hosts the inaugural Catch a Wave Business Competition next week.
“We’re very excited for this event and have narrowed down our 33 applicant companies to 8 finalists who will be presenting at the competition,” said Greg Horn, event organizer and vocational services chair for the Hanalei club.
The business competition is set for Friday, May 18 from 5 to 8 p.m. at Saint Michael’s and All Angels Episcopal Church in Lihue. Local small businesses were selected to present in front of a panel of expert judges, as well as an audience of investors and Kauai residents.
“We are looking for small businesses that currently have revenue of less than $250k per year,” Horn said. “All applicants will have an opportunity for mentorship from business veterans.”
Entrepreneurs will have the opportunity to pitch their business to investors, as well as ask the local community for support. Competitors will have 5 minutes to present their business to the judges and the audience. After each presentation the judges will have 5 minutes to ask questions to better understand the business and its needs.
“You’ll want to get the judges and audience excited about your business, help them understand why you do what you do, show them numbers about how well you’ve done so far, and help them understand what you would do with the $5,000, if you were to win it,” Horn said.
The first place winner will receive $5,000 in grants, as well as 10 hours of mentorship with highly qualified mentors and a complimentary first-year membership into the Kauai Chamber of Commerce. The winner will also be featured in a quarter-page ad in The Garden Island newspaper.
Second and third place winners will receive 5 hours of mentorship with qualified mentors, as well as complimentary first-year memberships with the Chamber of Commerce.
“Where there are stronger small businesses, and more of them, it creates a more empowered community and a stable local economy,” Horn said.
Competitors will have use of a projector to present a slide show or video if they wish and should send their presentation file via email by 11:59 p.m. on May 17 or bring it on a thumb drive.
Info: GregHorn27@gmail.com, (808) 652-7823
