MISSION, TX — [March 13, 2024] The Mission Economic Development Corporation has partnered with the University of Texas Rio Grande Valley to train a new generation of entrepreneurs and kickstart new business ventures.
The Mission EDC is re-launching the Ruby Red Ventures Competition, a pitch contest that mirrors the ABC hit TV show “Shark Tank” and offers contestants up to $25,000 to start their business in Mission. The competition will run in tandem with UTRGV’s Kauffman FastTrac Program, a globally renowned 7-week course that provides expert advice, guidance and networks for budding entrepreneurs.
Both programs are designed to equip aspiring and existing entrepreneurs with the skills and tools needed to start and grow successful businesses.
Participants must apply for free enrollment in UTRGV’s Kauffman program by Monday, March 18. They will put together a business plan throughout the course and graduates will be eligible to compete for startup funding via the Ruby Red Ventures Competition. Mission EDC is investing $50,000 into three prizes: $25,000 for first place, $15,000 for second and $10,000 for third.
“Seed money is not just about financing startups; it’s about investing in innovation and nurturing the entrepreneurial spirit of the community,” Mission EDC CEO Teclo J. Garcia said. “This program and assistance funds will transform a business idea from concept to reality by providing the necessary resources and knowledge to move forward.”
Kauffman classes will be offered every Tuesday from 4-7 p.m. at the Center for Education and Economic Development Center (CEED), 801 N. Bryan Road, from March 26 to May 7. The Ruby Red Competition will be held at the CEED on May 10.
Participants for the Ruby Red Competition must either have a business that has been operating for less than two years in the City of Mission or commit to establish one in Mission after winning startup funding.
About Ruby Red Ventures: Mission EDC first launched the Ruby Red Ventures Competition in 2013. The program, which has awarded about $600,000 to nearly 40 small businesses in Mission, was paused in 2019.
About Kauffman FastTrac: Ewing Marion Kauffman, the former owner of the Kansas City Royals baseball team, launched the program in 1993 through his foundation. Since then, it has helped facilitate the decision-making, skills development, and network building process for hundreds of thousands of people engaged in entrepreneurship across the nation and around the world.
