1) 1) Contestants must be Queens-based entrepreneurs who are 18 years of age or older and U.S. citizens or legal residents in the United States. (Queens-based is defined as an individual applicant or one of the group applicants (no more than 5 people) who is a Queens resident).

2) Contestants must EITHER demonstrate sales (less than 150K in annual sales) OR have tested the startup idea and are able to provide proofs of user testing or customer feedback.

Yes and No. You do not need to be a Queens resident to join the workshop as our virtual workshops are open to anyone regardless of where they live. However, you or one of your team members must be a Queens resident in order to submit an application and compete for the cash prizes.

All eligible applicants and/or the primary and/or secondary team member will be required to attend a minimum of 4 workshops held from October 2022 to January 2023 (If you can’t make the 8 live sessions, no worries; they will be recorded and available on our Video Library).

Our program staff will verify each applicant’s qualification starting March 2, 2023. We will check everyone’s eligibility, class participation and if your application is complete with the financial projections and video all submitted. Incomplete applications will be disqualified immediately.

All qualified applications will be sent to our 1st panel of judges for review. The judges will give scores and feedback for each application. Based on the scores, we will announce three finalists from each category. The 15 finalists will present to our 2nd panel of judges who will select a winner from each category.

5 winners will each receive a $20,000 prize.

Up to five individuals. Everyone involved in the proposed business described in the plan must register via YouNoodle as a team leader or team member and upload their State ID or Driver’s License. The business team leader needs to be a Queens resident and part of the co-founders/management team of the company.

Yes and we recommend you do so by making an appointment to speak to an advisor at QEDC here. They can help go over your application before you submit it and provide feedback from a judge’s perspective.

You must be a startup defined as making less than 150K in annual sales or have tested the product or service and are able to demonstrate market interests or customer demand for the concept. Business registration and/or minimum sales are NOT required but you must have built the minimum viable product (MVP) and show that it has been tested and can demonstrate interest. Businesses that are not currently paying taxes, are not tax-compliant or not operating with appropriate licenses and permits will forfeit their prize funding if selected as winners.

The funds must be used within one year from the date of the award being announced and can only be used for only the intended business purpose described in the business plan and nothing else. Please note that these awards are taxable and the Queens Economic Development Corporation and each winner must complete an IRS W-9 form before a check can be issued. All winners must include a written description on how the funds will be used, sign a release form, and agree to be surveyed for up to five years on the status of their business.

Queens Economic Development Corporation (QEDC) recognizes that entrants may be concerned about the confidentiality of their applications. Applications will not be copied for any purpose other than the competition and internal use by QEDC’s Business Services Department. Entrants are also permitted to exclude any information they regard as confidential (please note, however, that if by excluding information you make your plan more difficult to understand it may be judged poorly). The short description of your business idea will be considered a “public summary” of your plan and may be used in public documentation related to the competition. While all responsible measures will be taken to ensure the protection of intellectual property and preserve the confidentiality of each submission, Queens Economic Development Corporation cannot take further responsibility to protect the intellectual property or other rights of each contestant. Protection of such rights is ultimately the responsibility of each applicant.