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Updated: September 10, 2022 @ 11:07 am
ABERDEEN — The capacity to have a great idea knows no age limits. The BIG Idea Competition invites high school students to submit their best business ideas. The 2022 BIG Idea Competition is open through Oct. 31. There is over $35,000 in cash and scholarships to be awarded this year, the 15th anniversary of BIG Idea.
Students will be able to submit their business idea applications online. The online application as well as various resources and examples can be accessed at the BIG Idea website: www.BIGIdeaSD.com. Along with eight finalists, four additional awards are up for grabs. For the marketing design competition, students can create an ad to support their business idea. In addition to the special category awards for the best ideas in Wellness and Agriculture Innovation, a new partnership with South Dakota Retailers Association has created the Hometown Business award.
Coordinator Kelly Weaver of the Small Business Development Center said, “Understanding the basics of business is an important life skill, regardless of career path. The BIG Idea Competition is a great way for students to learn about those business basics. We can also connect them with resources and mentors to help further their entrepreneurial growth and business success.” A 2021 finalist shared this about her experience with BIG Idea, “This competition has shown me the importance of business to solve real world problems and how to develop this company from scratch … I have not only grown more confident and ready to take on the challenge but feel more empowered to start my business in the future.”
Applications submitted by the Oct. 31, 2022, deadline will be reviewed and ranked by judges from across the state and beyond. The eight top scoring entries will attend to the final competition and make a verbal presentation to determine the winner. Finalists will receive cash awards of $100 to $1,000 along with college scholarships to Northern State University, Presentation College and S.D. School of Mines & Technology. One winner will be chosen from among all the marketing design entries as well as each of the special categories. Prizes for these awards are $500 cash and $500 scholarship to Northern State.
The final competition and awards event is set for Wednesday, Dec. 7, at Northern State University in Aberdeen. The day will involve final presentations, mentor conversations, business speakers and finalist elevator pitches prior to the awards presentation.
Since inception in 2007, the BIG Idea Competition has received over 3,100 entries involving around 4,400 students from over 100 schools. The competition is open to all high school students. The winning entry in 2021 was Foxton Metalworks, by Collin Fuller of Henry High School. A complete listing of the 2021 finalists can be found on the BIG Idea website along with a video of their elevator pitches. Questions regarding the competition can be directed to Kelly Weaver of the Small Business Development Center at (605) 698-7654 x 144 or kelly@growsd.org.
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