SBA Patriot Pitch competition offers cash prizes totaling $1 million

CONCORD — Since the founding of the nation, innovation has transformed our lives, our communities and our economy by turning bold ideas into reality. As the United States approaches its 250th anniversary, that legacy is gaining renewed momentum, fueled by policies that put American ingenuity and entrepreneurs first.

That’s the spirit at the heart of the Freedom 250 Patriot Pitch Competition, a national competition led by the U.S. Small Business Administration to spotlight and support the businesses driving America forward. With a total cash prize pool of $1 million — made possible by a contribution from Clover Network Inc. — the competition celebrates entrepreneurs who do what Americans do best: solve problems, build businesses and create jobs.

The Patriot Pitch Competition is a showcase of grit, talent and American exceptionalism. It recognizes entrepreneurs who prove that when Americans set their minds to something, whether in a garage, a workshop, at a kitchen table or on a factory floor, they get things done.

Selected businesses will be invited to compete in a live pitch event in Washington, D.C., culminating in a total of $1 million in prizes to honor the innovation and ambition that have powered American ingenuity for more than two and a half centuries.

New England is the birthplace of the nation’s pursuit of independence, freedom and liberty, as well as the birthplace of the American Industrial Revolution. The Patriot Pitch Competition is an excellent opportunity for New England-based innovators and entrepreneurs to earn the recognition and resources they deserve to continue their daily work to strengthen our economy and provide the essential products and services that keep America competitive, secure and strong — just as they have been doing for 250 years.

To be eligible, businesses must have at least three years of operating history; generate a minimum of $100,000 in annual revenue; have used one or more SBA capital products; and be 100% owned by U.S. citizens or lawful permanent residents. Eligible businesses must also demonstrate innovation within their sector, using new technologies or strategies to modernize operations and strengthen their competitive edge. To find local submission links and review the full terms and conditions, visit sba.gov/freedom250.

The top 10 semifinalists will be announced this summer at the Great American State Fair. Five finalists will advance to the live pitch competition in Washington.

The deadline to apply is Wednesday, June 10.