Get Started: Business Idea Challenge
Get Started: Business Idea Challenge
The Get Started: Business Idea Challenge awards up to $500 to help founders start or advance their businesses.
We've partnered with the Lassonde Entrepreneur Institute at the University of Utah to launch Get Started statewide.
The Get Started: Business Idea Challenge provides non-equity funding, meaning no parties involved will require or ask for equity or partial ownership of businesses. The program aims to help you start or advance your business. Participants set achievable, short-term milestones—such as idea validation, prototyping, or marketing—to complete within 30-90 days after receiving funding.
If selected, this milestone grant program allows Utahns to present their ideas to a supportive environment of peers, entrepreneurs, and community members to secure the funding they need to advance their business ideas.
Applications are due by the first Wednesday of every month, and the live pitch events occur on the third Wednesday monthly.
How to receive funding
Get Started funding helps entrepreneurs achieve meaningful milestones that bring their business ideas closer to market readiness. Each funded milestone should help answer the critical question, “Will customers buy my product or service?”
Here’s what you need to know:
- Purpose of funding: Milestones should represent specific, actionable steps that provide insights into customer interest and advance your business idea.
- Eligible goals: Only milestones under $500 will be eligible; we cannot contribute partially toward larger objectives.
- Examples of fundable milestones: Creating a test product; running a small ad campaign to gauge demand; building a basic app version to demonstrate your concept
- Timeline for completion: You must complete the milestone within 30-60 days after receiving funding.
Please check the participation guide for additional details.
Eligibility requirements
Whether you’re just starting with a groundbreaking idea or looking for the right support to launch, this program is tailored to give you the tools, resources, and connections to turn your vision into reality.
However, we do have some eligibility requirements we have to adhere to:
- A participant must be able to prove they are a resident of Utah and a United States citizen or a lawful permanent resident of the United States.
- A participant must be able to prove that they are over 18 years of age at the time of the application.
- A participant is not required to have a registered business (LLC, corporation, etc.,) to apply. However, if the applicant has a registered business, the applicant must provide proof of current business registration status.
- The participant cannot have earned more than $100,000 for the lifetime of the business.
Are you a University of Utah student interested in milestone funding? Click here to learn about the U's program for its student entrepreneurs.
Get Started is open to all Utah residents 18 and older. To learn more, please review the Get Started participation guide.
Upcoming pitch events
Looking for funding to bring your idea to life? Apply to local Utah pitch events to showcase your vision, connect with investors, and take the next step toward success.
newsroom
Check out our newsroom for the latest stories, events, and updates shaping our community. Explore insights into Utah’s thriving entrepreneurial scene, discover inspiring leaders making an impact, and access resources to help you succeed and grow.
iHub Utah: Empowering the Next Generation of Entrepreneurs
USBCI: Bridging the Gap Between Banks and Disadvantaged Communities
