The Hatching, a pitch competition that allows entrepreneurs with a business idea to win money and grow their business, turns one-year-old this week.
In its first year the competition has helped create 18 jobs and form 12 companies, companies that, according to Tony Willis of Lansing Economic Area Partnership (LEAP), may not have gotten their ideas heard otherwise.
The Hatching, a joint effort between Spartan Innovations and LEAP, is a monthly event and the winners of each session are given not only prize money but access to resources that can otherwise be pricey and difficult to obtain such as legal help (provided by Loomis Law) and marketing assistance (from Michigan Creative).
There have been many successes out of the Hatching, including the most televised success, Swaddle-mi-Billi, a wearable jaundice treatment for infants. The company was featured on a startup reality show on A&E and it has become a mainstream product. Other successes include, Eightfold Marketing, Go Green Trikes, Poochie Bowl, What's Mapnin' (who won the year-end Grand prize) and more. All of these companies are growing, hiring, and contributing to economic development in Lansing. "All of these businesses saw a common problem, and solved it," says Willis, "They created a business that can revolutionize that area."
In their second year, LEAP and Spartan Innovations hope to double the numbers from the Hatching's first year. They hope to see more attendance, more submissions and more jobs.
Source: Tony Willis, Lansing Economic Area Partnership
Writer: Allison Monroe, Innovation News Editor
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