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Knoxville Business News Tennessee Mountain Scenery Background
February 20, 2024 | Katelyn Keenehan

Applications open for the Ballard Innovation Award

PYA will select five companies from the pool of applicants to pitch at the Ballard Innovation Award Ceremony.

PYA, the power behind teknovation.biz, opened the applications for the 2024 Ballard Innovation Award on February 21. The application will remain open until 11:59 p.m. EDT on March 15.

Each year, the pitch competition opens to any early-stage East Tennessee area company 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.

Qualifications to apply include:

  1. The company must be in the geographic East Tennessee area (33 counties as defined by the state of TN) – metro areas include Chattanooga, Knoxville, and Tri-Cities.
  2. Have an established “proof of concept” with accompanying revenue (as outlined).
  3. Have secured financial resources of a minimum of $200,000 total.
  4. Have a business plan to optimize existing business operations by reducing costs, increasing revenues, and/or gaining new efficiencies.
  5. Can demonstrate clear innovations that will improve the business.
  6. Have a focus on empowering the consumer to become more informed and engaged.

PYA will select five companies from the pool of applicants to pitch at the Ballard Innovation Award Ceremony on the afternoon of Wednesday, April 10 at Jewelry Television.

The first-place winner will receive the largest gift of cash and in-kind services available to East Tennessee entrepreneurs and startups: a $50,000 package of capital and in-kind services; $10,000 in monetary capital; and $40,000 in advisory, accounting, marketing, consulting, and video development support.

Apply on PYA’s website today!


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