Queens BP relaunches Queens tech competition
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Queens Borough President Donovan Richards announced Tuesday that his office is relaunching the Queens Tech + Innovation competition for a second year. Via Queens Tech
By Ryan Schwach
Queens Borough President Donovan Richards announced Tuesday that his office is bringing back the Queens Tech + Innovation Challenge for a second year after what he called a successful inaugural season.
Last year, the QTIC, which partners with the Queens Economic Development Corporation, awarded $20,000 in seed funding to five local start-up companies with the goal of empowering local Queens businesses in the tech industry.
The multi-month competition for funding includes classes, mentorship and networking opportunities that help prospective businesses eventually pitch their projects in the spring.
“I’ve never been more confident in Queens’ future as a true incubator of innovation and a global leader in tech,” Richards said. “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.”
Richards encouraged New Yorkers with ideas on how to make their business grow in Queens to apply.
“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,” he said.
The QTIC works by dividing projects into five categories: Consumer Tech, Enterprise Tech, Sustainability, Community and Food-Based. Ultimately, one project will be selected out of each category.
Last year’s winners included a local Malaysian gourmet pantry company, a bookshop that highlights authors of color, a waste management operations entity, an analytical software entity and a youth engagement platform.
“Entrepreneurs provide new services and products, create jobs and pay taxes. And in Queens, they’re the bedrock of the economy,” said Queens Economic Development Corporation Executive Director Seth Bornstein. “Thus, we’re excited to expand and improve the time-honored QTIC program this year, encouraging budding entrepreneurs to register and participate. You’ll definitely learn a lot, in addition to potentially earning important funding.”
To participate, interested individuals must complete an intake form and a 2-page application between Oct. 3, and March 1. Along with the application, interested Queens residents must submit a video pitch of up to three minutes long for their plan, as well as a three-year financial projection.
Individuals must be from Queens and over the age of 18, and also must attend a minimum of four online workshops hosted by QEDC, among other criteria, in order to apply.
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.
