VINTON, Va. – More than 100 local entrepreneurs are working to take their business ideas to the next level.
The 10th annual Gauntlet business competition and program is underway. Participants undergo a ten-week program where they gain valuable business knowledge and insights to enhance their entrepreneurial skills. The Gauntlet program serves as a platform for entrepreneurs to learn, network, and receive support to take their business ideas to the next level.
It’s the largest of its kind here in Virginia and has helped hundreds of local businesses start or expand.
“The Gauntlet is the intersection where diverse resources and entrepreneurship meet,” said Annette Patterson, president of The Advancement Foundation. “The Advancement Foundation uses this proven business acceleration model to ensure that every community has equal access to critical resources. The collaborative platform convenes business resource agencies, community leaders, mentors, and industry experts,” Patterson said.
Tuesday was the fourth class of the ten-week program.
Officials with the Advancement Foundation said this year they have 121 entrepreneurs participating representing 94 businesses.
”It has been very powerful for the entrepreneurs. They come in very excited about their idea, but very insecure about their business knowledge. Slowly over the ten weeks of this program, they are learning, ‘Hey I knew more about this than I thought, or they are saying now I am getting some nuggets I can take with me and apply to what I am doing,” Patterson said.
The Gauntlet includes stakeholders in the Alleghany Highland, Roanoke Valley, New River Valley, Shenandoah Valley, Southside, and Southwest Virginia to build that strong mentor network and accelerate business growth and development by implementing The Advancement Foundation’s proven model.
At the end of the 10-week program. entrepreneurs can submit their business plan for the competition portion where they’ll be eligible for cash and in-kind prizes. Winners will be announced May 23.
For more information about the Gauntlet, or how you can get involved, volunteer as a mentor or donate cash or an in-kind prize from your business to assist these participants, visit the Advancement Foundation website.
WSLS 10 is a proud media sponsor of the Gauntlet.