The Drive competition returns in October with $10K in seed money to a local entrepreneur

The Drive is a Shark Tank-style business pitch competition presented by Inventrek Technology Park. Finalists will pitch their business idea to a panel of judges in front of an audience in an effort to win the $10,000 prize. The event will be open to the public, and there’s no cost to attend.

As an initiative of the Greater Kokomo Economic Development Alliance, the contest is open to those with a startup idea or expansion of an existing business located within Howard County. Expansion could include increasing square footage, adding a product line, and increasing geographical reach. Businesses with 100 or fewer employees are eligible to participate.

Those wishing to compete must fill out an entry form by April 28, 2024. The application can be found below. Through a review process, the Alliance will work to select finalists by May 10. Finalists will go on to work with Alliance staff to create a solid business plan and perfect their pitch.

The competition will take place October 3, 2024 at Hingst Hall on the Ivy Tech Kokomo campus.

At the inaugural competition in 2019, judges awarded a total of $10,000 to three pitches, including software development, a solar power storage solution and a door-locking system for schools. In 2023, the judges selected Margaret Johnson, owner of the Wellness Garden, as the sole winner of the $10,000 prize. The Wellness Garden offers a customized approach to finding out where your body needs support and offers steps to meet those needs naturally. “We focus on nutrition, detoxification, gut, sleep and stress support,” said Johnson. “In-office testing gives us immediate results!” Johnson plans to use the money to hire and train staff to offer a broader reach of her services.

“We had four great finalists in 2023,” said Lori Dukes, President and CEO of the Greater Kokomo Alliance. “Our winner in 2023, Margaret, was a contestant in our 2022 competition. Her win last year is a great example of the perseverance it takes to make a small business successful. She also took advantage of the resources and tools available to her through this competition to continue her momentum and grow her opportunities.” This year, organizers plan to again award the entire $10,000 to a single business pitch. Dukes encourages local entrepreneurs and business owners to apply for this year’s contest.

The City of Kokomo and Community First Bank of Indiana have secured sponsorship spots again for this year’s event, with additional opportunities available. To become a Drive sponsor, contact Lori Dukes at ldukes@greaterkokomo.com

 

This contest gives you a chance to showcase your business prowess, collaborate with like-minded individuals, and gives you the tools to turn your vision into a reality. And with this being the 20th anniversary of our Inventrek Technology Park, we might just have a few tricks up our sleeve. – Lori Dukes, president and CEO of the Greater Kokomo Alliance

The Drive is an initiative of the Greater Kokomo Economic Development Alliance.

Our 2023 winner
Margaret Johnson, CEO and Founder of The Wellness Garden is the winner of the 2023 Drive Competition. She plans to use her $10,000 to hire and train staff to offer a broader reach of her services.
Inventrek Tech Park gives you the tools and resources to help your business grow and thrive.
Call 765-457-2000 or click here to learn what space is currently available. 

Thank you to the sponsors of the 2024 Drive Competition!

CPS Midwest
Indiana University Kokomo
Ivy Tech

2024 Drive Competition Entry Form

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Competition rules
  • The Drive is open to those with a startup idea or expansion of an existing business located within Howard County. Expansion could include increasing square footage, adding a product line, increasing geographical reach.
  • Winner(s) must launch or expand the business within 6 months of competition date.
  • Existing businesses must have fewer than 100 employees.
  • Existing business entries must be full-time operations with a primary office in Howard County.
  • All applications will be reviewed, and all applicants will be contacted.
  • Experienced business advisors from the ISBDC (Indiana Small Business Development Center) will be available to help with application and/or The Drive presentation.
  • The $10,000 prize money will be awarded to one finalist at the judges’ discretion and will be distributed to the winner upon set criteria.
  • All entries will be reviewed and finalists will be chosen based on feasibility, presentation, positive community impact and potential job creation.
  • Finalists will be judged on presentation criteria and responses to judges’ questions. Deadline for entering the competition/completing the online application is Sunday, April 28, 2024.

Sponsorship Opportunities

Title Sponsor
$5,000

Logo on website & printed promotions

Company banner displayed at event

Recognition throughout the event

Address attendees at start of event

Lead-up advertising and listing as the Title Sponsorship

Post-event Ad/Media coverage

60-second commercial played prior to event start

Premier Sponsor
$2,500

Logo on website & printed promotions

Company banner displayed at event

60-second commercial played prior to event start

Corporate Sponsor
$1,000

Logo on website & printed promotions

60-second commercial played prior to event start

Partner Sponsor
$500

Logo on website & printed promotions

Want to sponsor the 2024 competition? Contact us today!

Lori Dukes

(765) 319-3600

Michelle Reed

(765) 457-2000

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