located in Prior Lake City Hall, is working in collaboration with the Scott
County First Stop Shop to sponsor a county-wide business challenge. The FAST-TRACK
Challenge is open to all entrepreneurs who have a business idea that is not yet
well established, as well as businesses that have incorporated within the past
12 months. Goals of the FAST-TRACK Challenge are to
assist local residents in putting their business ideas on the fast-track to success, create jobs and
enhance economic development within Scott County.
Focus areas for the
competition include, but are not limited to, health and personal care
solutions, professional and business services with a technology component,
educational products, and apps/software publishing. A category for 501(c)3 organizations is also
included for non-profits with new products or services that meet the evaluation
Over the next two
months, coordinators of the FAST-TRACK
Challenge will be working with local communities and sponsors to finalize the
awards of the event including cash prizes (seed money), a professional service
package (assistance with legal, accounting, web/marketing), access to
additional businesses and financial planning resources, access to shared office
space and meeting facilities, media exposure and networking opportunities with
other business entrepreneurs as well as obtaining information from individuals
and businesses interested in participating.
A formal application process will be announced soon. Applications will be reviewed with the top
five business ideas to present their “pitch” to a panel of esteemed judges at a
live event in October.
Business ideas will
be evaluated on the product concept and potential viability, potential to
create jobs with livable wages, inclusion of a technology component, and
creation of a product that addresses the identified focus areas, among others.
But don’t wait! Individuals or new businesses interested in
applying are asked to register their interest in participating online at https://www.surveymonkey.com/r/FAST-trackcompetition
by June 5, 2017. The Challenge is free
to enter and there is no minimum age requirement. Those who register will
receive additional information on the application process, timelines, etc. In order to be eligible individuals must
reside within Scott County or have a business which was incorporated in Scott
County within the past 12 months, have a viable product or service idea, and be
willing to participate in the FAST-TRACK
Challenge live event.
interested in serving as a sponsor of the event or interested in providing a
service as a part of the prize package(s) are asked to contact Jo Foust,
Business Development Specialist, Scott Co. FSS at (952) 496-8830 or email at