NWA Startup Cup Back for Second Year

The NWA Startup Cup returns for its second year. The 2013 competition includes more mentoring, a larger network of resources and no less than a $5,000 cash prize for the winner, event coordinator Tonya Nkokheli said.

The Startup Cup pairs successful business owners with hopeful entrepreneurs. Through the course of the competition, fledgling business models are reviewed from all angles — financials, personnel, marketing and revenue.

The winner will earn cash and mentoring, while the second- and third-place contestants will receive in-kind legal and consulting services. What will become evident as the competition progresses is that some people are ready to run their own businesses and some are not, Nkokheli said.

Entrepreneurs who do not place in the top three still could benefit from the competition and see their chances of market viability improve, Nkokheli said. Mentors for this year’s contest include Joan Johnson, owner of White River Hardwoods, and Kristen Bergman, co-founder of Startup Cup in Tulsa.

Last year’s winner was Olive Loom, a Fayetteville-based company that specializes in handcrafted apparel and accessories.

Registration for the Northwest Arkansas competition begins June 4 and winners will be announced during Global Entrepreneurship Week in November. Nkokheli said 25 contestants will be chosen through a competitive selection process. The next information session is scheduled for 6 pm. June 4 at the Arkansas World Trade Center in Rogers. For more information, visit nwa.startup.com.

Nkokheli said all comers are welcome.

“Anyone with any idea can apply, from an IT company to a grandmother with a great cookie recipe,” she said.