Tennessee Valley Federal Credit Union (TVFCU) announced today that 10 entrepreneurs are moving forward as semifinalists in the fifth annual Idea Leap Grant competition.
These small business owners all aim to win one of five grants – grand prize: $50,000, first place: $20,000, and three runners-up: $10,000.
“We congratulate our 10 semifinalists and, once again, thank every small business owner who applied for the Idea Leap Grant competition,” said Tommy Nix, vice president of business and commercial services. “Small businesses are crucial to our local and nationwide economies, so it’s inspiring to see so many entrepreneurs in the communities we serve.”
This year’s semifinalists, representing industries such as food service, janitorial, medical, clothing and more, are:
- Be Caffeinated
- Bela Co., LLC
- Bella Star Designs
- HIIT 10 Fitness
- Mountain View Low Vision Services
- Neutral Ground Chattanooga
- NewTerra Compost
- Sleepyhead Coffee
- TEREN Designs
- We Clean Chattanooga
TVFCU initially received nearly 150 Idea Leap Grant applications before an independent panel of volunteer judges selected 23 quarterfinalists from this group. These 23 entrepreneurs were asked to submit 5-minute videos detailing their business, their intentions for the grant funding and how they support their community. The judges reduced this field to 10 semifinalists after reviewing the videos and conducting site visits.
Now, the credit union is requesting the community’s help to identify the People’s Choice Finalist. Visit tvfcu.com/vote to learn more about each semifinalist and for instructions on voting via text message.
The semifinalist with the most votes at 5 p.m. EST on Friday, Sept. 9, will be named the People’s Choice Finalist. The judging committee will also select four other finalists to compete in the Idea Leap Grant Pitch Competition on Oct. 18.
For more information about the Idea Leap Grant, please visit tvfcu.com/business/idea-leap/idea-leap-grant.html. Follow TVFCU on Facebook, Twitter, Instagram and LinkedIn for continual Idea Leap updates.
Fifth Annual Idea Leap Grant Semifinalist Facts
Be Caffeinated
- Location: Chattanooga, Tenn.
- Owners: Christopher Wood & Douglas Lee
- Established: 2019
- Grant Wishes: Purchasing new equipment to add New York-style bagels to their bakery lineup
Bela Co., LLC
- Location: Chattanooga, Tenn.
- Owner: Bethany Wilson
- Established: 2015
- Grant Wishes: Hiring a digital media specialist to create a stronger online presence, expand online jewelry sales and promote resident artists on a national level
Bella Star Designs
- Location: Athens, Tenn.
- Owner: Lisa Bell
- Established: 2010
- Grant Wishes: Implementing much-needed equipment repairs and/or replacements, improved online presence and other studio upgrades so artists can have an enhanced experience and create their own product lines
HIIT 10 Fitness
- Location: Cleveland, Tenn.
- Owner: Kevin Young
- Established: 2018
- Grant Wishes: Updating existing software and equipment for the daily workout programs offered. Would also like to use funds toward opening a second location in Chattanooga
Mountain View Low Vision Services
- Location: Hixson, Tenn.
- Owner: Cheryl Saucier
- Established: 2018
- Grant Wishes: Purchasing devices that she could leave with potential referrers to showcase products. Would also create a video training library for gatekeepers, occupational therapists, families and VIPs (visually impaired individuals)
Neutral Ground Chattanooga
- Location: Chattanooga, Tenn.
- Owner: Kenyatta Ashford
- Established: 2020
- Grant Wishes: Purchasing two professional combination ovens that increase efficiency in the kitchen
NewTerra Compost
- Location: Wildwood, Ga.
- Owners: Normand Lavoie & Michael Ryan
- Established: 2020
- Grant Wishes: Constructing a building for office space that would provide a resting place from outdoor manual labor, enhance NewTerra’s productivity and work environment and offer indoor plumbing. Will also put finished product indoors so it’s available without being weather-dependent and will be able to mix compost into soil blends
Sleepyhead Coffee
- Location: Chattanooga, Tenn.
- Owners: Christian Harris & Brandon Carruth
- Established: 2018
- Grant Wishes: Opening an improved, larger bakery space for vegan and gluten-free pastries
TEREN Designs
- Location: Chattanooga, Tenn.
- Owner: Nick Rader
- Established: 2018
- Grant Wishes: Wants to use the funds to have products manufactured in the U.S. which would increase production and create local jobs
We Clean Chattanooga
- Location: Ooltewah, Tenn.
- Owner: Romonda Walker-Word
- Established: 2018
- Grant Wishes: Providing more training for staff, purchasing commercial cleaning equipment to accommodate larger companies and purchasing a van to help employees with transportation to each job site