April 11, 2018 | Launch Lex Pitch Competition
April 13, 2018 | Lexington, Virginia More than 250 people crowded into the Hall of Valor at VMI’s Center for Leadership and Ethics last Wednesday evening for the Launch Lex Pitch Competition.
At stake was $60,000 in prize money for the most promising business plans for a new retail shop, restaurant, or service in downtown Lexington. Each of the eight eligible entrepreneurs presented the audience with a three-minute pitch about their idea and then fielded two-minutes of questions from the panel of judges.
Following the formal presentations, six additional semi-finalist contestants presented 30-second pitches on their business ideas. While not eligible for the grant money, the semi-finalists asked the public for assistance ranging from legal services to mentoring to start-up funding.
Following a 20-minute deliberation session, the judges announced the grant winners. The big take of the evening, $20,000, went to Jenny Davies & Erik Jones, for Heliotrope Brewery, a craft brewery and pizza restaurant to be located on Main Street. $15,000 was awarded to Jess Reid, for Lex Running Shop, which will sell running shoes, gear, and athleisure wear. The expansion of the five-month-old fabric and sewing studio, Make It Sew, garnered $15,000 for its owner, Accacia Mullen. And finally, Zander Tallman was awarded $10,000 for his business, Just Games Lexington, which will sell board and card game, and offer interactive gaming experiences including tournaments and after-school game sessions.
Four other finalists presented pitches, including Wendy Orrison, Fran Elrod, and Holly Snyder, with fLex Fitness, a boutique fitness studio; Cindy Hughes, owner of Sugar Maple Trading Co., a gift shop that focuses on celebrating every day; Laura De Maria, owner of Cocoa Mill Chocolate Co., which is looking to expand production; and Jonathan Tarris, a local lawyer who pitched The Lexington General Store, a deli and shop focusing on Lexington-created products.
The semi-finalists included Katy Barron, a fashion design company called Katherine Barron Design, Eric Lynn, owner of Whistle Creek Treats, an all-natural dog and cat treat manufacturer looking to open a store downtown, Kereshmeh Kashefian, owners of Kelly’s Persian Foods, who would like to expand her farmer’s market stand to a restaurant, Lauren Haskell, manager of Gladiola Girls, who would like to purchase the business from its owner and expand, and JuLee Messerich, who is looking for a market for her hydroponically grown, restaurant-grade salad greens.
“The turnout for the competition was tremendous, and a real testament to the support of our community for new business ideas,” said Stephanie Wilkinson, executive director of Main Street Lexington. “Immediately after the program, people were already approaching me and the presenters to discuss offers of assistance. I am confident we are going to see some great collaborations happening and some really exciting new developments downtown. And we know from other communities that have run programs like this, it’s not always the money that makes the biggest difference. The training and the public support are invaluable.”
The judging panel consisted of Bruce McWilliams, former owner of The Inn at Gristmill Square in Bath County, Bruce Summers, board member of the Lexington Industrial Development Authority, Chiedo, founder and owner of Chiedo, Inc., in Harrisonburg, Courtney Cranor, assistant director economic development and tourism of Waynesboro, Jeff Schatten, assistant professor of business at Washington and Lee, and Kirsten Moore, director of The Hub co-working space in Harrisonburg.
The pitch competition was the culmination of a program created by Main Street Lexington with the assistance of a grant from the Virginia Department of Housing and Community Development, along with matching funds from the City of Lexington’s Industrial Development Authority. The program began with eight weeks of free business training on topics ranging from marketing to finance, legal structure to cash flow. Thirty-three applications for the program were received in January, and 24 students began the course. Twenty-one finished the program, thirteen submitted final business plans to the judges, and eight were selected as finalists to make pitches at the competition.
To be eligible for a share of the state grant, the winners must be a new or expanding business that will occupy currently un- or underutilized storefront space downtown, create new jobs, and be open for business before September 30, 2018.
In addition to grant funding, the winning businesses will receive an additional package of free or reduced-cost services, such as legal assistance, marketing services, Chamber of Commerce memberships, social media training, and more.
At stake was $60,000 in prize money for the most promising business plans for a new retail shop, restaurant, or service in downtown Lexington. Each of the eight eligible entrepreneurs presented the audience with a three-minute pitch about their idea and then fielded two-minutes of questions from the panel of judges.
Following the formal presentations, six additional semi-finalist contestants presented 30-second pitches on their business ideas. While not eligible for the grant money, the semi-finalists asked the public for assistance ranging from legal services to mentoring to start-up funding.
Following a 20-minute deliberation session, the judges announced the grant winners. The big take of the evening, $20,000, went to Jenny Davies & Erik Jones, for Heliotrope Brewery, a craft brewery and pizza restaurant to be located on Main Street. $15,000 was awarded to Jess Reid, for Lex Running Shop, which will sell running shoes, gear, and athleisure wear. The expansion of the five-month-old fabric and sewing studio, Make It Sew, garnered $15,000 for its owner, Accacia Mullen. And finally, Zander Tallman was awarded $10,000 for his business, Just Games Lexington, which will sell board and card game, and offer interactive gaming experiences including tournaments and after-school game sessions.
Four other finalists presented pitches, including Wendy Orrison, Fran Elrod, and Holly Snyder, with fLex Fitness, a boutique fitness studio; Cindy Hughes, owner of Sugar Maple Trading Co., a gift shop that focuses on celebrating every day; Laura De Maria, owner of Cocoa Mill Chocolate Co., which is looking to expand production; and Jonathan Tarris, a local lawyer who pitched The Lexington General Store, a deli and shop focusing on Lexington-created products.
The semi-finalists included Katy Barron, a fashion design company called Katherine Barron Design, Eric Lynn, owner of Whistle Creek Treats, an all-natural dog and cat treat manufacturer looking to open a store downtown, Kereshmeh Kashefian, owners of Kelly’s Persian Foods, who would like to expand her farmer’s market stand to a restaurant, Lauren Haskell, manager of Gladiola Girls, who would like to purchase the business from its owner and expand, and JuLee Messerich, who is looking for a market for her hydroponically grown, restaurant-grade salad greens.
“The turnout for the competition was tremendous, and a real testament to the support of our community for new business ideas,” said Stephanie Wilkinson, executive director of Main Street Lexington. “Immediately after the program, people were already approaching me and the presenters to discuss offers of assistance. I am confident we are going to see some great collaborations happening and some really exciting new developments downtown. And we know from other communities that have run programs like this, it’s not always the money that makes the biggest difference. The training and the public support are invaluable.”
The judging panel consisted of Bruce McWilliams, former owner of The Inn at Gristmill Square in Bath County, Bruce Summers, board member of the Lexington Industrial Development Authority, Chiedo, founder and owner of Chiedo, Inc., in Harrisonburg, Courtney Cranor, assistant director economic development and tourism of Waynesboro, Jeff Schatten, assistant professor of business at Washington and Lee, and Kirsten Moore, director of The Hub co-working space in Harrisonburg.
The pitch competition was the culmination of a program created by Main Street Lexington with the assistance of a grant from the Virginia Department of Housing and Community Development, along with matching funds from the City of Lexington’s Industrial Development Authority. The program began with eight weeks of free business training on topics ranging from marketing to finance, legal structure to cash flow. Thirty-three applications for the program were received in January, and 24 students began the course. Twenty-one finished the program, thirteen submitted final business plans to the judges, and eight were selected as finalists to make pitches at the competition.
To be eligible for a share of the state grant, the winners must be a new or expanding business that will occupy currently un- or underutilized storefront space downtown, create new jobs, and be open for business before September 30, 2018.
In addition to grant funding, the winning businesses will receive an additional package of free or reduced-cost services, such as legal assistance, marketing services, Chamber of Commerce memberships, social media training, and more.
Missed the event? Catch up here!
To see the whole event, including all eight finalist pitches, click the video above.
No time for that? You can read about the Competition, here.
Eight Businesses. $60,000. See Who Won a Share of the Prize by Lily Ghiz (Article on Medium.com)
Prefer to listen? Here's a five-minute radio report.
"Launch Lex" Competition for Local Business by Jessie Knadler (WMRA Radio)
No time for that? You can read about the Competition, here.
Eight Businesses. $60,000. See Who Won a Share of the Prize by Lily Ghiz (Article on Medium.com)
Prefer to listen? Here's a five-minute radio report.
"Launch Lex" Competition for Local Business by Jessie Knadler (WMRA Radio)
Want to help some new businesses get off the ground?
We all want to see our downtown thrive. Support from the community is vital. If you've got something to offer to our new and aspiring business owners -- mentoring, connections, financial assistance -- please get in touch with them today!
Finalists
COCOA MILL CHOCOLATE CO. | Award-winning chocolate shop seeks expansion -- Laura de Maria, [email protected]
FLEX FITNESS | Boutique fitness studio -- Wendy Orrison, Fran Elrod, Holly Snyder, [email protected]
LEXINGTON GENERAL STORE & DELI | Local foods & goods -- Jonathan Tarris, [email protected]
SUGAR MAPLE TRADING CO. | Gift ware shop focusing on celebrating every day -- Cindy Hughes, [email protected]
Semi-Finalists
JAMROCK ISLAND GRILLE | Jamaican food restaurant -- Devon Hewitt, [email protected]
KELLY'S PERSIAN FOOD | Delicious & healthy Persian food -- Kereshmeh Kashefian, [email protected]
WHISTLE CREEK TREATS | Handmade all-natural cat & dog treats -- Eric Lynn, [email protected]
GLADIOLA GIRLS LEXINGTON | Thoughtful collection of wearable trends shop -- Lauren Haskell, [email protected]
KATHERINE BARRON | Made-to-measure womenswear -- Katy Barron, [email protected]
RED NEWT BIKES | Bicycles and bike adventures -- Dave Walsh, [email protected]
LEXROCK PRODUCTIONS | Downtown music venue -- Katrina Broughman, [email protected]
SHENDANDOAH ORGANICS | Hydroponically grown local produce -- JuLee Messerich, [email protected]
Grant Prize Winners
$20,000 | HELIOTROPE BREWERY -- Jenny Davies & Erik Jones, [email protected]
$15,000 | MAKE IT SEW -- Accacia Mullen, accacia@[email protected]
$15,000 | LEX RUNNING SHOP --Jess Reid, [email protected]
$10,000 | JUST GAMES LEXINGTON -- Zander Tallman, [email protected]
Finalists
COCOA MILL CHOCOLATE CO. | Award-winning chocolate shop seeks expansion -- Laura de Maria, [email protected]
FLEX FITNESS | Boutique fitness studio -- Wendy Orrison, Fran Elrod, Holly Snyder, [email protected]
LEXINGTON GENERAL STORE & DELI | Local foods & goods -- Jonathan Tarris, [email protected]
SUGAR MAPLE TRADING CO. | Gift ware shop focusing on celebrating every day -- Cindy Hughes, [email protected]
Semi-Finalists
JAMROCK ISLAND GRILLE | Jamaican food restaurant -- Devon Hewitt, [email protected]
KELLY'S PERSIAN FOOD | Delicious & healthy Persian food -- Kereshmeh Kashefian, [email protected]
WHISTLE CREEK TREATS | Handmade all-natural cat & dog treats -- Eric Lynn, [email protected]
GLADIOLA GIRLS LEXINGTON | Thoughtful collection of wearable trends shop -- Lauren Haskell, [email protected]
KATHERINE BARRON | Made-to-measure womenswear -- Katy Barron, [email protected]
RED NEWT BIKES | Bicycles and bike adventures -- Dave Walsh, [email protected]
LEXROCK PRODUCTIONS | Downtown music venue -- Katrina Broughman, [email protected]
SHENDANDOAH ORGANICS | Hydroponically grown local produce -- JuLee Messerich, [email protected]
Grant Prize Winners
$20,000 | HELIOTROPE BREWERY -- Jenny Davies & Erik Jones, [email protected]
$15,000 | MAKE IT SEW -- Accacia Mullen, accacia@[email protected]
$15,000 | LEX RUNNING SHOP --Jess Reid, [email protected]
$10,000 | JUST GAMES LEXINGTON -- Zander Tallman, [email protected]
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