By Forum Staff
Coming off a successful inaugural season in which five winning local start-up companies each received $20,000 in seed funding, Queens Borough President Donovan Richards Jr. on Tuesday announced that his Queens Tech + Innovation Challenge is returning for a second straight year.
Developed and presented in partnership with the Queens Economic Development Corporation, the QTIC is a multi-month competition for Queens-based entrepreneurs in search of funding. The initiative includes entrepreneurial classes, one-on-one mentorship opportunities and networking events to help applicants develop their pitches, which will be heard by a panel of judges next spring.
The QTIC, sponsored by Resorts World NYC, will again be divided into five categories: Consumer Tech, Enterprise Tech, Sustainability, Community and Food-Based.
To participate in the QTIC, interested individuals must first complete an intake form and a two-page application between Oct. 3, and March 1, 2024. Along with the application, entrepreneurs must submit a video pitch of up to three minutes long, as well as a three-year financial projection. The intake form and application are not required to be completed simultaneously.
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“I’ve never been more confident in Queens’ future as a true incubator of innovation and a global leader in tech,” BP Richards said.
Interested individuals must be Queens-based entrepreneurs age 18 and older and will be required to attend a minimum of four online workshops hosted by QEDC, among other criteria, in order to apply. For the full list of eligibility requirements and instructions visit queensstartup.org.
After applying, entrepreneurs will be able to connect with QEDC advisors for one-on-one mentoring sessions and attend a variety of QTIC networking events in the coming months. In spring 2024, 15 finalists will be selected — three from each category — to participate in Pitch Day, with each finalist pitching their start-up to a panel of judges.
Five winners will be declared — one per category — and each victorious start-up will be awarded with $20,000 in funding.
“I’ve never been more confident in Queens’ future as a true incubator of innovation and a global leader in tech. With the return of the QTIC, we’re taking a second giant leap toward realizing that immense potential by further investing some of the most ingenious minds in our borough,” said Richards. “If you have a bright idea for a new business that you want to grow here in Queens, I strongly encourage you to apply and utilize the tools at hand — and funding waiting to be won — to help you do just that.”
