Congrats to these Top Five Finalists for each region's Idea Leap Grant Competition.
| Chattanooga | Ocoee | Northwest Georgia |
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Creekside Flower Farm LLC (People’s Choice Winner) |
Ace Kayaking School (People’s Choice Winner) |
Cake Addicts (People’s Choice Winner) |
Registration for our three regional Idea Leap Grant events is now live. Click the banner to go register for our Chattanooga, Ocoee and Northwest Georgia Idea Leap Grant Events.
NW Georgia Region Idea Leap Grant
Check out the Northwest Georgia Region event information!
Registration is Open!
Follow the link to access registration for Northwest Georgia, Ocoee Region and Chattanooga Area Idea Leap Events
ARTS Build
Wed. May 1 at 6 p.m. TVFCU and ArtsBuild have partnered to bring the Periscope program to Chattanooga. The year-long intensive helps artists see their craft through an entreprenurial lens and concludes with a pitch competition.
CEW Conference (April 29 - May 3)
This 3 day conference event is during National Small Business Week. With Idea Leap Grant events woven into several other collaborating events, come connect, celebrate and learn with fellow entrepreneurs! (Free to attend; Registration is required.)
6th Annual Idea Leap Grant winners in Chattanooga
Sleepyhead Coffee wins $20,000 in 2022
Dr. Little wins the top prize in the first-ever Northwest Georgia Area Idea Leap Grant
Cocoa Asante wins $30,000 in the 2023 Chattanooga Area Idea Leap Grant
The Local Juicery presents their pitch in 2023
Please review the competition rules in-full before applying.
REGLAS OFICIALES PARA EL CONCURSO DE APOYOS ECONÓMICOS “IDEA LEAP” DE TVFCU
Navigating TVFCU's 7th Annual Ideally Grant Application: Proven Tips
For entrepreneurs seeking success in TVFCU's 7th Annual Ideally Grant Application, strategic preparation is key. This post distills essential insights to guide you through the application process effectively.
Preparing for the Application:
Given the application's non-save feature, it's crucial to adopt a strategic approach. Open a Word document, review the questions on TVFCU's website, and carefully craft your responses. This method ensures a polished submission when you transfer your answers into the application.
Key Application Focus Areas:
Two crucial elements demand attention in your application. Firstly, share your compelling entrepreneurial story. Illuminate what inspired you to embark on this journey. Additionally, emphasize your community engagement, showcasing your business's contributions or your personal efforts to give back.
Preparing for the Quarter Finalist Selection:
Anticipating success, prepare for the quarter finalist selection by focusing on two critical aspects:
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Financial Statements: Ensure you have your latest income statement for 2023 or your most recent tax return, providing insight into your business's financial health.
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Video Submission: Quarter finalists are required to submit a five-minute video. Emphasize creativity and informativeness in crafting this video. While it need not be a high-budget production, it should effectively convey your business's essence and impact.
The History and Impact of Idea Leap
Idea Leap Loan
TVFCU started the Idea Leap Loan program in 2016 to fill a void in the community for capital for start-up and early-stage businesses. With Idea Leap loans between $2,500 and $75,000 (originally $50,000), TVFCU has connected nearly 200 unique businesses with funding while many other financial institutions would not engage with loans considered too small or too risky. With referrals and assistance from collaborators such as BrightBridge, CO.LAB, LAUNCH Chattanooga, Score, the TSBDC in Cleveland and Chattanooga, the UGA SBDC, the Urban League of Greater Chattanooga and UTC's Veteran Entrepreneurship Program, the vast majority of Idea Leap Loan recipients have started and expanded successful local businesses. Brianne Hager, owner of B's Sweets, received the first Idea Leap Loan, and she still owns and operates her bakery eight years later.
TVFCU has originated over $5 million in Idea Leap Loans.
Idea Leap Grant
In 2018, after two very successful years of Idea Leap Loans, TVFCU started the Idea Leap Grant to reinvest proceeds from the loan program back into the local small business ecosystem. In the first Idea Leap Grant, the credit union awarded $52,500 in grants, with the Chattanooga School of Language winning the top prize of $20,000. In 2022, to celebrate the 5th Anniversary of the grant program, TVFCU awarded a $50,000 grant to Be Caffeinated - the largest Idea Leap Grant to-date. In 2023, TVFCU expanded the program once again by hosting seperate Idea Leap Grant competitions in the Chattanooga, Ocoee and Northwest Georgia regions. Next, in 2024, the credit union will award $75,000 in grants in each of the three areas.
44 unique businesses have received Idea Leap Grants. Through grants and scholarships, the program has invested $485,500 in the local entrepreneurial ecosystem. In 2024, TVFCU will award an additional $225,000 in grants.