SHOALS — Bank Independent, the Shoals Chamber of Commerce, and the University of North Alabama announce their annual Shoals Idea Audition designed to foster new businesses, help entrepreneurs polish their presentations, and introduce community leaders who might be instrumental in helping make their ideas a reality. For the fourth year in a row, hopeful entrepreneurs will have an opportunity to present their business ideas to a panel of area professionals, and the top scoring idea will be awarded a $5,000 cash prize, with $2,500 and $1,000 to second and third-place winners, respectively. This year’s event will be held on October 10.
Mary Marshall VanSant
“The fact that this exciting opportunity for would-be entrepreneurs has grown substantially in the last four years is a testament to the innovative spirit we have in the Shoals,” said Mary Marshall VanSant, one of the founders of the event. “We have the means and experience to assist the participants in rehearsing and polishing their presentations. We essentially help them concentrate on refining their ideas and make them into workable businesses. The prize money is a great reward, but we also know that the exposure to business leaders in the community will foster mentor relationships.”
This is the fourth time Bank Independent, the Chamber, and UNA have come together to host the competition. Last year, Harriette Rost won the contest with her idea of a patient bed-turner device named TomiTurn.
The idea for the Idea Audition came from a group of Chamber members and UNA leaders 
who want to encourage entrepreneurs to create businesses in the Shoals area. “Our area has tremendous resources to support a business start-up,” said VanSant, “from the Shoals Entrepreneurial Center to the Shoals Chamber and from the Alabama Technology Network to the Small Business Center at UNA. When we began brainstorming the idea of a business pitch contest, the UNA College of Business stepped forward and offered facilities and expertise, and the idea of this event was launched.”
Participants must register by September 29, and there is no cost to participate. Registration and contest rules can be found on the event website at www.shoalsideaaudition.com.
Caitlin Holland
“Participants will practice their presentations with experts on hand to help them work out the kinks when they attend a mandatory training session,” said Caitlin Holland, President of the Shoals Chamber of Commerce. “On October 10 they will then have three minutes to make their pitch. Our panel of judges will be made up of local business people who have started their own businesses or who work with entrepreneurs to get their projects off the ground. The panels will judge presentations and select finalists for the final round where they will pitch in front of a different panel of judges and a larger audience to determine the winner.”
The idea behind a total of $8,500 in prize is to assist a potential businessperson with transforming their idea into a viable business, but there are no restrictions on how the prize money must be spent. “In addition to the cash, there are other prizes for the top winner, including counseling sessions with bankers, marketing professionals, and sales and distribution experts,” said VanSant. “Even if an idea presented doesn’t win the grand prize, the presenters will learn about the supportive community we have here for start-up businesses. We also know mentor relationships can be formed. Our panelists are experts and are anxious to share their knowledge and wisdom with people who are just beginning the start-up process.”
Bank Independent, the Shoals Chamber of Commerce, and the University of North Alabama are the Platinum sponsors for this year’s event. Gold level sponsors are LyonsHR and Party Pros. Silver sponsors include Armosa Studios. The City of Florence, and No’Ala Studios. Bronze sponsors include the CB&S Bank, Northwest-Shoals Community College, Regions Bank, Yates and Spry Law Firm, Shoals Entrepreneurial Center, and Shiloh Holdings.
For more information about the Shoals Idea Audition, including rules and a calendar of events: shoalsideaaudition.com or the Shoals Chamber of Commerce at 256-764-4661.
Media Release/UNA/Bryan Rachal, APR
Director, Communications
and Marketing
