Can you pitch your business idea in under 25 words? If so, you could win a $100k kickstart
Wed 28 June 2017 - 12:12 pmNews | Noticeboard | Raising capital | Startup
If you’re an aspiring entrepreneur who can express their business idea in 25 words or less, HubSpot is giving you a shot at winning $100,000 to put towards launching your dream venture.
As part of their #SummerStartup contest, the inbound marketing and sales software company is inviting business hopefuls from the US, UK, Ireland, Singapore and Australia to pitch their idea on Facebook, while staying within a 25 word limit, for a chance to secure $100,000. The winner will also receive three years of free access to HubSpot’s Growth Stack software suite and the opportunity to be mentored by business minds from companies like Netflix, Atlassian, Moz, Harvard Business School, and HubSpot.
To support the initiative, HubSpot has released the findings from its recent US study, investigating the factors that influence job satisfaction plus people’s career aspirations. Two in five respondents (38%) admitted their dream job involved running their own company. Although 67% said they had considered starting their own business at one point in their lifetime, only 10% had ever attempted to do so.
When asked why, respondents named lack of capital, mentorship, and tools as the top three reasons. According to Ryan Bonnici, Senior Director of Buzz at HubSpot, #SummerStartup was designed to help one person overcome these barriers and get their idea to market.
“Today, the ultimate ‘dream job’ has shifted dramatically… and now more people are realising the benefits of running their own company,” he said. “With the right resources and support, entrepreneurs can turn their ideas into reality. We’re excited to offer an opportunity that helps make one big dream come true.”
The HubSpot study also found that many workers invest significant time and money in the pursuit of a career, yet remain unhappy in their jobs. Specifically, two in three respondents had spent four or more years pursuing education, at an average cost of $52,000, and 44% were still paying off an education debt. Respondents also cited additional challenges to pursuing careers, ranging from the balance of school, work, and family, to finances, and academic rigor.
Ultimately, 40% of those in full time employment indicated being unhappy in their job. When asked what would make them happy in their career, 42% said starting their own business, more than those who cited changing careers, getting a promotion, or getting a new boss.
Providing evidence that there is a connection between happiness and business ownership, the study found that of those respondents who had left jobs to start their own businesses, 90% reported being happier in their career.
Of the business owners surveyed, 57% attributed success to having access to the tools they needed. Meanwhile, 48% said they had the mentors and support they needed, and 35% said they had the capital to get started.
To enter the HubSpot #SummerStartup contest, participants must submit their business ideas in the comments section below the launch video on Facebook in 25 words or less. Selected entrants will be asked to create a short video providing more detail about their idea to be shortlisted for the $100,000 prize; three years of HubSpot’s Growth Stack, free of charge; and one-on-one mentorship from executives. The contest is open to Australia. The deadline to enter is Sunday, 23 July 2017 and the winner will be selected on Monday, 11 September 2017. For more information and contest terms and conditions, please visit https://www.hubspot.com/startups/tools.