Mission EDC Funds 3 New Small Biz Startups

Mission EDC Funds 3 New Small Biz Startups
March 6, 2017 missionedc
In News and Press

Game developer, collectibles shop & designer win Ruby Red Ventures contest

MISSION, TEXAS – March 6, 2017 – The Mission EDC will soon fund three more new small businesses– to a tune of some $42,500 – that came out on top of the latest Ruby Red Ventures program and competition.

A game and app developer, a comic book and collectibles shop and a high-end event designer earned the right to be funded after going through the six-month long small business development program, and then pitching their idea to a committee much like the show Shark Tank.

The three new startups will set up shop in Mission boosted by Ruby Red Ventures’ (a Mission EDC program) funding. The concept of the program, said Mission CEO Alex Meade, is to drive
entrepreneurship and innovation in Mission by supporting small businesses.

“It’s always exciting to fund a new group of entrepreneurs because you see the excitement and spirit they have to succeed in business with their new ideas,” said Meade. “We’re at an all-time high for employment in Mission, and we see smart, innovative small businesses like these flourishing and creating new opportunities in the city. Mission EDC is proud to help launch these new enterprises.”

With this group of recipients, the Mission EDC and Ruby Red Ventures have funded 31 Mission
entrepreneurs since 2012 averaging about $11,870 per award for each business. Applicants must go through a rigorous business plan development process, with assistance from the UTRGV Small Business Development Center, and turn in a completed proposal which is then graded.

Business plans that make the grade then are pitched to a special committee Shark Tank style. The Committee picks the winners after all presentations are complete. Funding is a grant and not a loan; however, if funds are not used as defined in the business plan, funds have to be repaid. There are two rounds of funding per year. The next round will take place in the fall.

This year’s winners include:
– GAME SWIPE: Raul and Noel Pena. $12,500. Mobile games and apps development.
– SWEET CONFETTI: Abraham Neave. $16,000. Upscale party décor and designs.
– GEEKS AND JOCKS: David Avila. $14,000. Sports and comics collectibles shop.

Contact: Cristina Garza, Mission EDC Programs Director: 956.585.0040 or cgarza@missionedc.com