By Victor Ochieng
Convincing investors to pump money into ideas isn’t that easy though. In fact, in most cases, a number of investors are looking for entrepreneurs who’ve already started doing something, however small.
Another challenge faced by young entrepreneurs is the pressure by some investors to control the project, thus stifling the original idea instead of helping to strengthen it.
Tap the Future is providing an opportunity to help entrepreneurs build their startup into a full fledged company. They form a corporation whose fundamental focus is to strengthen the American dream.
ABC’s “Shark Tank” panelist Daymond John has been brought in to meet entrepreneurs who’re ready to compete for a $200,000 grand prize. Shortlisted contestants will have an opportunity to meet John and pitch their business plans live.
The competition kicked off on February 11, and interested entrepreneurs are continuing to submit their applications to be considered for the three-tier contest. Applications are welcome until April 8 and only entrepreneurs above 21 years are accepted.
Out of all the proposals, only 30 will be selected to partake in a live pitch event to be hosted in Atlanta, Los Angeles, Chicago Houston, Miami, and Philadelphia. The live pitching events are scheduled for July this year. John and a team of business experts will be charged with selecting just one business from each of the cities to proceed to the national level. Each of the winning businesses at the city level will each earn $20,000.
Out of the national finalists, only six will be selected to make their presentation in September before judges in Chicago, and they will then compete for the $200,000 grand prize.
“Miller Lite Tap the Future can open doors for aspiring entrepreneurs who want to take their business to the next level and are willing to put in the work to do so,” John said in a statement. “I encourage entrepreneurs who are ready to get down to business and work hard to not pass up this opportunity.”
Over the last three years, the program has awarded participants over $1 million. Every year, thousands of businesses present their ideas and only one is crowned the winner for the grand prize. Brian Hill, Edovo founder, is the most recent winner. His Edovo business is a self-driven educational and vocational platform used by correctional institutions across the nation.
“Miller Lite Tap the Future not only provides the financial insights necessary to help grow businesses, but it also puts entrepreneurs in front of people who are well respected and know what it takes to succeed,” said Steve Canal, MillerCoors community affairs. “Miller Lite’s commitment to help entrepreneurs succeed is inspired by Frederick Miller, who created the original light beer by following his passion, staying true to himself and his vision and against all odds, not giving up.”
Just to show how respected Miller Lite Tap the Future is, United States Hispanic Chamber of Commerce (USHCC) recently endorsed it. Miller Coors has a sturdy history of providing support to Hispanic businesses.
“The USHCC is thrilled to support Miller Coors—a longstanding partner of our association—as they host their national business competition, Tap the Future, for the fourth year.,” said U.S Hispanic Chamber of Commerce President & CEO Javier Palomarez.