ready for liftoff

City of Houston's startup competition takes off with $30,000 up for grabs

Applications are now open for Liftoff Houston. Photo courtesy of the City of Houston

The applications for the 2021 Liftoff Houston Startup Business Plan Competition opened this week and local businesses have less than a month to get their submissions in for a chance to be one of three companies to take home seed funds.

"I am excited to see what business ideas and concepts this year's contestants will bring to the table," says Mayor Sylvester Turner in a news release from the city. "We are grateful for Capital One Bank's commitment to helping Houstonians make their small business dreams come true. I encourage all aspiring entrepreneurs not to miss out on this wonderful opportunity that will help move our economy and city forward."

Liftoff Houston, sponsored by Capital One Bank and administered by the Houston Public Library and the Office of Business Opportunity, aims to empower Houston entrepreneurs through workshops and coaching sessions that take place from August through October. The program will name winners in three categories – service, product, and innovation – and award each $10,000 in seed money from Capital One Bank. Applications close Monday, Aug. 2.

"Startup businesses play a critical role in our City's economic future," says Houston Public Library Director Dr. Rhea Lawson in the release. "The Houston Public Library is pleased to support their development by providing access to free and vital business and investment reference resources, market research, state of the art technology equipment with high-speed Wi-Fi, and other valuable services such as fax and copy services and space for meetings and trainings."

The program, which has been supporting startups in town for almost a decade, has had over 12,623 participants and doled out more than $240,000 in prize money from Capital One Bank.

Liftoff Houston is looking for applicants who live and operate their business within the Houston city limits. Other requirements include:

  • must be a for-profit business
  • must be in operation for less than one year
  • must have verifiable revenue that does not exceed $10,000

If not selected for the program, applicants have the option to participate in the Liftoff Houston Educational Pathway, which offers access to all the business education opportunities provided by the program, but without the pitching component.

"Liftoff Houston will provide you with a wealth of knowledge and information about how to successfully start your business, and the Office of Business Opportunity is also available to assist," says Office of Business Opportunity Director Marsha Murray in the release. "I encourage contestants to connect with us for a host of free resources at our 'one stop business center' where you can receive guidance on business permitting, licenses, one-on-one business counseling, legal assistance and much more. These services can certainly supplement the learnings offered by Liftoff Houston, and assist contestants on their entrepreneurship journeys."

Past participants include:

For more information and to apply, interested parties can visit the website.

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Building Houston

 
 

Two Houston entrepreneurs have launched an app that makes transfering funds to Africa seamless and safe. Screenshot via AiDEMONEY's Facebook page

Africans living abroad send over $40 billion back to their home country annually — yet the process continues to be expensive, fraud-ridden, and complicated. A new Houston-area startup has a solution.

AiDEMONEY, based in Katy, has launched a money transfer app for mobile devices. The app enables digital transfers from the United States to five African countries: Cameroon, Ethiopia, Ghana, Kenya, and Nigeria

"International remittance has always been about people living in diaspora wanting to share their success with people back home," says Uzoma Eze, AiDEMONEY co-founder and CEO, in a news release. "By replacing profit as the point of the spear, we're helping Africans fund Africa and, ultimately, rewriting our motherland's story."

Eze co-founded the company with Felix Akompi, a fellow member of Houston's African diaspora community and the company's COO

The app, which is already available on the App Store and Google Play, focuses on blockchain-powered security and instant transfers. The company also designed the platform with a "give back" model that builds a stronger Africa.

With every transaction fee, users are funding progress in Africa. A portion of customer transaction fees to nonprofits in education and literacy, women's empowerment, and healthcare. Currently, AiDEMONEY partners with the Lagos Food Bank Initiative, Shalom Sickle Cell Foundation, Sharing Smiles Initiative, and Jenny Uzo Foundation.

"We're creating a superhighway for tens of billions in USD to flow from one part of the world to another," Eze says. "When you have the right people with the right vision, that capital tills the ground—tilling out profit, social advancement and a stronger Africa."

Doing Money Remittance Better | AiDEMONEY, The African Diaspora's Money Transfer App www.youtube.com

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