Applications are now open for the 2025 PYA Ballard Innovation Awards!
PYA, the power behind teknovation.biz hosts a pitch competition with the largest gift of cash and in-kind services available to East Tennessee entrepreneurs.
Starting a business is a lot of work, and PYA, the power behind teknovation.biz wants to help local start-ups succeed with more than just funding.
The Ballard Innovation Award is the largest gift of cash and in-kind services available to entrepreneurs and startups in East Tennessee, and applications are now open!
The Ballard Innovation Award competition is open to any early-stage company in the East Tennessee area that has established a proof of concept with accompanying revenue. Applicants must present a business plan to optimize existing business operations by reducing costs, increasing revenues, and/or gaining new efficiencies while demonstrating clear innovations to improve the business and empower the consumer.
“It is our goal to highlight and help East Tennessee entrepreneurs with supportive strategies that further their entrepreneurial efforts. This award allows us to connect with those innovators to help them grow and thrive as an established part of our community,” said Marty Brown, the President and Chief Executive Officer (CEO) of PYA.
What’s at Stake?
The first-place winner of the PYA Ballard Innovation Award will receive a $50,000 package:
- $10,000 of monetary capital
- $ 2,500 of in-kind tax advisory support
- $ 7,500 of in-kind outsourced accounting
- $10,000 of in-kind marketing support
- $10,000 of in-kind strategy support
- $10,000 of in-kind video development
- Marketing and promotional awareness through earned media
- Physical award for presentation and marketing purposes
The second-place company will receive:
- $10,000 of in-kind strategy support
- Mention in marketing/media collateral
The third-place company will receive:
- $5,000 of in-kind strategy support
- Mention in marketing/media collateral
Applications are open now through March 21 at midnight.
Qualification specifications
- Company must be located in the geographic East Tennessee area (33 counties as defined by the state of TN) – metro areas include Chattanooga, Knoxville, and Tri-Cities;
- Has established a “proof of concept” with accompanying revenue (as outlined);
- Has secured financial resources of a minimum of $200,000 total;
- Has a business plan to optimize existing business operations by reducing costs, increasing revenues, and/or gaining new efficiencies;
- Can demonstrate clear innovations that will improve the business;
- Has a focus on empowering the consumer to become more informed and engaged.
Behind the Brand
The PYA Ballard Innovation Award honors Tom Ballard, PYA’s Chief Alliance Officer, and the Editor of teknovation.biz for more than 13 years. He is a well-respected member of the East Tennessee entrepreneurial community. A Maryville native, Ballard spent more than four decades building relationships across East Tennessee. He was the inaugural Director of Partnerships for Oak Ridge National Laboratory (ORNL) for seven years, and before that, he served for 35 years as the Vice President for Public and Governmental Relations at the University of Tennessee. Additionally, he has served on dozens of boards over the decades.
During both careers, he led initiatives to build multi-organizational alliances focusing on statewide telecommunications networking, automotive research, and land use planning.
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