Foley Main Street Businesses What would you do with $45,000?

How It Works

Eligible Bright Ideas grant uses and expenses are limited to inventory, equipment, marketing, computers, and software upgrades.

Qualifying Downtown Foley businesses in the Foley Main Street district will get the opportunity to pitch their ideas to a group of judges.  A pitch must be no longer than three minutes. The Foley Main Street Pitch Contest is open to Foley Main Street district businesses who meet the criteria of the Main Street Alabama Bright Ideas competition. ENTRIES DUE BY JANUARY 15, 2025.

Contests are open to existing businesses who are looking to take their business to the next level, or those looking to pivot and grow an existing business.  All types of businesses are encouraged to enter.

You will be judged on need, smart use of funds, and impact of funds on your business.

A business must:

Be physically located within the Foley  Main Street District.

Be a legally formed and for-profit business entity (e.g. sole proprietor, corporation, limited liability corporation, partnership), and have an Employee Identification Number (EIN).

Have been in operation for at least one year as of October 1, 2024. Businesses that are expanding, that were previously located in another community, that are opening a second location in the Designated Main Street District, or similar scenarios are eligible.  

To be eligible for the $10,000 grant, a business must be located in the Foley Main Street District and be a 2024/2025 Foley Main Street member*. *This includes all 2024-2025 individual, supporter, in-kind, and investors of Foley Main Street. For more details to become a 2024-2025 investor, visit: https://foley-main-street-inc.square.site/shop/investindowntownfoley/3 or call Darrelyn at 251-366-1565.

Competitors will be required to complete a minimum of three small business course  modules and an application, and to submit a simple, three-minute “video pitch” about  their idea and how they would invest Bright Ideas grant funds to help expand and grow their business. All materials will be due to Foley Main Street by Jan 15, 2025.

And when you create your video pitch for the judges, contrary to skydiving, remember that you should open your “parachute” right away. Usually, you’ll have only a few minutes to wow your audience, so don’t wait: Cut straight to the chase, using language that’s simple but captivating. Show them you are your brand’s biggest fan… and they will probably become its fans too. 

Winners are required to either submit photos of the final product to Foley Main Street or share them on their social media platforms, tagging Foley Main Street. 

Video Submission Guidelines & Requirements

Videos will give an opportunity to set you and your idea apart. The three minute videos should be persuasive and help judges understand your idea and explain your plan. Besides the time constraint, there are no set criteria for your video. Businesses should decide what ideas they feel are most applicable for judges to know.

You could use your video to:

• Give a personal “elevator pitch” for your idea

• Show your extreme passion for your idea

• Let your creativity, your personality, and/or the “personality” of your idea shine through

• Clearly demonstrate and explain the three levels of how you will spend the funds

• Follow these simple guidelines when creating your video:

• Videos MUST be no longer than 3 minutes in length. Videos longer than 3 minutes may not be judged.

• Keep it professional. No inappropriate sounds, language or images. Videos containing content deemed inappropriate will result in disqualification.

The judging panel consists of successful and knowledgeable business leaders, experienced in many phases of small business development. Judges will not be affiliated with, or involved in, the preparation or funding of any participating business. The decision of the judging panel will be final and will not be subject to appeal. The overall selection of winners is based on the viability and likely success of the business plan .

The Judging Criteria

• Was the presentation impactful?

• Does the idea show innovation and creativity?

• Does the business model adequately explain the use of the money at the three different stages of the Bright Ideas competition? 

• You will be judged on need, smart use of funds, and impact of funds on your business.

• Details on budget can be explained in a one page .pdf