Liftoff Houston! competition kicks off May 11

(KPRC)

HOUSTON – The city of Houston and Capital One Bank are launching the fourth year of the "Liftoff Houston" business plan competition.

Mayor Sylvester Turner will formally announce the 2016 program on May 11. "Liftoff Houston!" is a competition that provides entrepreneurs with information, resources and support as they seek to start new businesses.

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Capital One Bank will provide cash prizes totaling $30,000 to the top three winning business plans in the categories of product, service and innovation. A prize of $10,000 will be awarded for each category.

"Houston is a city of economic opportunity," Turner said. "Liftoff Houston! is an opportunity for all Houstonians who are considering starting a business but may need that extra push to get started. I am grateful to our partners and Capital One Bank for continuing to invest in our small business community and I am inviting all interested Houstonians to participate."

To be eligible, applicants must have a for-profit business that is less than a year old, has earned less than $10,000 in revenue, and is operated by owners who live within the Houston city limits.

Application submissions open May 11. All interested parties are required to complete and submit the application no later than 2 p.m. June 3. To learn about the competition or to apply, visit www.Liftoffhouston.com or call 832-393-0954.

The competition is five months long and is divided into four stages: orientation, workshops, mentoring and business pitching. The workshops will be offered at various Houston Public Library locations and local entities citywide.