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Alaska Growth Capital Announces the First Two Winners of the 2012 North Slope Marketplace Winners

May 24, 2012 – Anchorage, AK – Alaska Growth Capital is proud to announce the winners of the 2012 North Slope Marketplace, a competition for residents of North Slope communities to compete for funding to start or expand North Slope based businesses. The contest is intended to foster small business development by providing funding for the startup, maintenance and/or expansion of shareholder or descendant-owned small businesses. The competition is designed to inspire new business opportunities for North Slope communities and challenges entrepreneurs to compete for awards ranging up to $25,000.

Alaska Growth Capital hosted two NSM teleconference workshops for applicants interested in general business practices, business planning, proposal writing, entrepreneurship, etc.  The 2012 North Slope Marketplace round 1 had seven applications; of which 2 businesses were selected based on overall proposal design and implementation, business need and benefit, business capacity and experience, budget and financial description, long-term financial viability, and employment of other ASRC Shareholders/descendants. The following are the two winning entrepreneurs of the 2012 North Slope Marketplace:

  1. Lela’s Store– owned by Lela Ahgook of Anaktuvuk Pass, awarded $25,000.00 for a business that provides groceries and supplies to the community, while employing shareholders and promoting positive Iñupiaq values in the store.
  1. Tundraberry– owned by Joni Edwardsen of Barrow, awarded $25,000.00 for a business producing traditional and contemporary Iñupiaq artwork, promoting the continuation of traditional Iñupiaq practices while incorporating modern ideas.

Entries to the 2012 North Slope Marketplace Contest are accepted on a rolling basis in order to give more opportunity for applicants to fine tune their applications. Interested applicants are encouraged to continue submitting their applications.

About Alaska Growth Capital
Alaska Growth Capital, Alaska’s only Business and Industrial Development Corporation (BIDCO), is a subsidiary of Arctic Slope Regional Corporation whose mission is “To help our clients grow and thrive in Alaska’s business environment. Alaska Growth is a lending and consulting company which works with many small business owners and entrepreneurs by providing professional and financial support and promoting economic growth in both the rural and urban areas of Alaska.  Alaska Growth Capital is also the only company in Alaska to receive New Markets Tax Credit allocations from the US Treasury, and has successfully deployed them across Alaska as well as Hawaii and Arizona.

Contact information: Chris Kolerok 907-339-6760

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