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Pasco entrepreneurs to compete for support in launching a business

 
Published Nov. 19, 2014

Pasco County entrepreneurs who have hoped for help launching a business have a shot to get it.

The SMARTstart Challenge is a competition being sponsored by the West Pasco Chamber of Commerce, the Pasco Economic Development Council, the city of New Port Richey Economic Development Department and SCORE. It is inspired in part by ABC's Shark Tank.

"If you've got a great idea for a business or you've got a business that needs support, consider applying for the SMARTstart challenge," said Chip Wichmanowski, president of the west Pasco chamber.

From applications received by Nov. 28, 10 will be picked to present a five-minute pitch to a panel of judges.

"That's 10 businesses that we hope will be better businesses (afterward) because they're going to get feedback," Wichmanowski said.

The 10 will give presentations in December and, from them, three finalists will be chosen. Each will be mentored by members of the organizations sponsoring the competition. The finalists will present their plans Jan. 29, during Business Development Week, and a winner will be selected.

The winner will be picked based on several factors, including market potential and research, the owner's experience, and "how successful we think they are going to be," Wichmanowski said.

"A lot of people think they have a great business idea, but it isn't going to fly," he said. "Or they've got the greatest idea in the world, but it takes capital."

He and the other sponsors of the contest want to provide that, he said. All three finalists will receive a financial reward, to be provided by donors. The winner, he said, will receive the largest sum (with the amount yet to be determined) and, if space permits, a spot to run his or her business for six months out of Pasco's SMARTstart Incubator. The sponsors hope their work helps the winner achieve something he or she otherwise wouldn't.

"Having a group guide you based on the experiences we've had over literally decades hopefully means they'll make fewer mistakes and better choices," said Howard Bassuk, a SCORE mentor who is helping to run the challenge.

Mario Iezzoni, director of economic development for New Port Richey, expects the contest to achieve what Bassuk hopes it will.

"It's very hard for individuals who have the talent but not the resources to get a business off the ground," Iezzoni said. With the competition experience, he said, they could "potentially grow the next very successful business."

Contact Arleen Spenceley at aspenceley@tampabay.com or (727) 869-6235. Follow @ArleenSpenceley.