GrowAmerica founder Alan Hall recently announced on Forbes that his organization will be giving away money to entrepreneurs all over the United States.
GrowAmerica has been supporting new businesses in the state of Utah for the last year in a series of business idea competitions. The competition went nationwide starting Jan. 28 with the completely online Innovative Product Competition, open to everyone 18 years or older.
The first place winner gets a $20,000 prize, and winners are able to use the prize money to finance their operations however they want. GrowAmerica will continue to support ambitious Americans with additional business competitions and its website resources at GrowAm.com.
GrowAmerica’s goal is to help entrepreneurs move from business idea to business success. The organization does more than just provide funding for deserving entrepreneurs — it also helps them plan the business and then implement the plan. Its four main areas of support are money, marketing, mentoring and networking.
The big money winners are not the only ones to benefit from the competitions because everybody who enters will gain valuable advice on the market value of their ideas from both peers and judges. Contestants receive mentoring to help them with their business ideas and plans. Those who participate in the competition are in communication with entrepreneurs from many different fields and can collaborate with potential business partners.
Alan Hall argues that entrepreneurship is the key to creating jobs in America today: “America’s risk-taking entrepreneurs strengthen our economy by serving as our most efficient and powerful supplier of jobs,” he said. “Over the last 30 years, in fact, entrepreneurs who followed their dreams and invited others to help them are responsible for the creation of 40 million American jobs.”
Hall urges all entrepreneurs to take advantage of all the resources GrowAmerica has to offer free of charge. He is advocating the program because he believes entrepreneurship will help America get back on the path of economic growth.