For the 12th edition of CO.LAB’s “Will This FLOAT” pitch competition in Chattanooga, newly named Director of Programs Christine DiPietro says the event is going back to its roots.
“This year we’re focused on new business and ideas that meet the FLOAT criteria,” she says, adding, “For this ‘Will This FLOAT,’ we want fun, crazy ideas.” To help entrepreneurs decide whether the competition is a good fit for them, CO.LAB has offered this guidance:
- Few direct competitors (Is this a novel idea?)
- Low adoption/switching costs (Will customers use this?)
- On-time entry to market (Is the window of opportunity open?)
- Addresses unfilled need or want (Does this solve a real problem?)
- Target market is identified and large (Who are the customers?)
In case you did not notice, those five criteria capture the word FLOAT.
The competition, set for 5:30 p.m. October 18 as part of “Startup Week,” is focused on new or soon-to-launch businesses and ideas. As such the start-up or products must have launched after October 19, 2020, or new and not on the market yet. Selected participants have the chance to win $3,000 to use toward business costs, a spot in a CO.LAB accelerator program, and gift bags from local companies.
Applications are open now through September 8, and CO.LAB will select and notify entrepreneurs of their acceptance by September 15. To apply, click here.