February 5, 2025
In collaboration with the Lassonde Entrepreneur Institute, the Startup State Initiative has introduced the Get Started: Business Idea Challenge to support aspiring entrepreneurs across Utah. This new initiative offers up to $500 in non-equity funding to help founders develop their business ideas.
In tandem with providing funds to ignite any type of idea, be it acquiring kitchen equipment for a baking business or building a prototype for a new tech product, the program is designed to assist and encourage participants in achieving specific, short-term milestones within 30 to 90 days of receiving funding.
“These milestones are put in place to help those awarded funding to achieve valuable benchmarks, such as idea validation and marketing efforts,” said Tim Cooley, the Startup State Initiative’s director of entrepreneurship. “The overall goal is to help entrepreneurs answer the critical question of ‘will customers buy my product or service’ for any idea they may have.”
Applications are due by the first Wednesday of each month and can only be submitted by Utah residents aged 18 or older. Any individual who meets the criteria can apply multiple times a year, regardless of prior acceptance. However, only one application per email address will be accepted in a given month.
Upon verification, up to 15 selected participants will receive a pitch deck template for the final presentation. During these live pitch events, participants will present their business ideas to a supportive audience of peers, entrepreneurs, and community members. The program emphasizes a low-pressure environment, distinguishing it from traditional pitch competitions.
“We really do welcome any idea,” emphasized Cooley. “Whether you’re a first-time entrepreneur or have tried a few businesses in the past, we want you to apply because we want to help cultivate Utah’s startup culture.”
The Get Started: Business Idea Challenge is part of the broader Startup State Initiative, which aims to position Utah as a leader in entrepreneurship and innovation. This collaborative effort supports entrepreneurs throughout the lifecycle of their businesses and reflects the state’s commitment to fostering innovation and supporting entrepreneurial spirit within Utah.
Interested individuals can visit the Get Started webpage for more information on eligibility, application procedures, and upcoming events.
The information in this article is current as of the publishing date and is intended for informational purposes only. This article does not, and is not intended to, constitute legal, tax, or business advice. Any resources and organizations mentioned, unless an entity of or a partner of the state of Utah, are not formally endorsed by the Startup State Initiative or state of Utah.