$225K Idea Leap Grant finalists named

Published 7:34 pm Tuesday, April 9, 2024

CHATTANOOGA — The Tennessee Valley Federal Credit Union has announced the small business owners moving forward as finalists in each of the Credit Union’s regional Idea Leap Grant competitions.

As finalists, the entrepreneurs will each participate in their regional pitch competition hoping to win a grant to support and expand their small business.

The finalists are:

Northwest Georgia Region

Cake Addicts (People’s Choice Winner)

Caffeine Addicts

Dalton Brewing Company

Dyer Livestock Beef, LLC

Insane Paintball, LLC

Chattanooga Region

Creekside Flower Farm LLC (People’s Choice Winner)

Divine Purity Aurapothecary, LLC

Humanitees Print & Design

Renew Exterior Services

Southern Soul Yoga

Ocoee Region

Ace Kayaking School (People’s Choice Winner)

Bakery on Main

Burnside Insurance Group

Ocoee Riverside Farm

Treehouse Mountain

The three pitch competitions will occur during the last week in April where each area’s finalists will present their small business expansion plans and win grant funding at the end of the night. In each of the three competitions, first place is $30,000, second place is $15,000 and three runners-up will receive $10,000 each.

All pitch competitions, and the annual Idea Leap Luncheon in Chattanooga, are open to the public. RSVPs for all events are now open, and more information may be found at tvfcu.com/idealeap.

“We’re very proud of these local small business owners who have advanced to the Idea Leap Grant finals,” said Tommy Nix, vice president of business and commercial services. “We’d like to invite people from across Southeast Tennessee and Northwest Georgia to come out and watch these incredible entrepreneurs discuss their small businesses, their plans for the future and the many ways in which they support their local communities.”

This year more than 300 local businesses applied for the Seventh Annual Idea Leap Grant. TVFCU, leaning on the expertise of area business leaders serving as volunteer judges, reduced this group to quarterfinalists who each submitted videos showcasing their business. Based on the video submissions, semifinalists were selected in each competition and were asked to provide the judges with a tour of their business. After these site visits, TVFCU hosted a voting period open to the public that selected one People’s Choice Finalist by popular vote in each region. The other finalists were selected by each regional panel of judges.

The Idea Leap Grant is an extension of the credit union’s Idea Leap Loan Initiative that was created specifically for small businesses in 2016. To date, TVFCU has funded more than $5 million in loans to emerging and early-stage businesses through the loan initiative. Furthermore, TVFCU has awarded over $485,000 in Idea Leap Grants and scholarships.