Troy University’s IDEA Bank is hosting its Idea Empowerment Series and Competition for a project that creates a clear, positive impact in Pike County. 

IDEA Bank Program Coordinator Mauree Alice Porter McCall said that the idea for the competition came after the IDEA Bank received funding from the Regions Foundation. 

“This came about because we got funding from the Regions Foundation to implement a series of accelerator programs,” McCall said. “This is one is geared towards the community. The competition itself is awarding an individual up to $10,000 to bring their idea to life in Pike County.”

The IDEA Bank was established by Troy University in an effort to develop Troy into a regional center for economic growth by creating entrepreneurial resources and collaboration opportunities for the community of students, faculty, alumni, local businesses and leaders in the area.   

The idea for the competition could be anything from a business, event, nonprofit or anything that brings a positive impact to the Pike County Community. The competition is open to any individuals that live, work or go to school in Pike County. Projects must address a local need, demonstrate measurable community impact and provide a six-month progress report. 

The IDEA Bank is also hosting a series of workshops to help individuals flesh out their ideas. One was held in February and the next one will be held in March and another in April. Applicants have until March 31 to apply for the competition.

Following the deadline, judges will review the applications and then applicants will be asked to send in a video explaining their idea. A third round will feature a private Q&A with applicants and the judges. An award ceremony will be held on June 13 where the winner will be announced.

“Realistically it will be something that someone sees that they won’t really profit from, that’s geared toward the community and bettering the community,” McCall said. “We’ve seen these types of ideas with non-profits or people looking for different grants for projects. It really is just meant to be a way to empower individuals that have ideas that could better our community.”

McCall said the idea for the competition was born from an effort with the IDEA Bank to do something different with their accelerator program this year.

“We knew that we wanted to do an accelerator type program but we wanted to do something a little different than a typical accelerator program,” she continued. “We didn’t just want to have workshops or have an individual graduate from a program. We really wanted to be able to see the impact of the money that we were awarded. In turn, we’ve turned that into a series that no matter if someone wins the $10,000 prize or not, hopefully they will be able to walk away with quality content and good structure to implement their idea down the line.”

More information on the competition and series can be found here. Applications can be submitted here.