McKinley Alaska Growth Capital Expands Marketplace Competition to Bristol Bay

McKinley Alaska Growth Capital (MAGC) is further enlarging its Marketplace business plan competition. The program that began in the Arctic Slope and expanded earlier this month to include The Aleut Corporation region is now partnering with Bristol Bay Native Corporation (BBNC).

Training and Seed Money

This expansion builds upon the success of MAGC’s North Slope Marketplace, a business plan competition open to Arctic Slope Regional Corporation (ASRC) Shareholders. Since 2009, ASRC shareholders with innovative business ideas have been able to apply to win up to $25,000 in seed capital to start or grow their business. Through the competition, MAGC has deployed more than $1 million into the North Slope economy, empowering more than sixty small businesses to thrive and contribute to Alaska’s economic landscape.

The program provides participants with a comprehensive series of training sessions through a ten-month cycle. These sessions provide essential skills of entrepreneurship, including business ideation, customer discovery, financial projection preparation, and marketing and branding strategies. Delivered in collaboration with valued partners such as the University of Alaska Center for Economic Development, Spruce Root, Anchorage Community Land Trust, and others, this training ensures participants receive expert guidance and insight from industry leaders prior to competing for award funds. Semifinalists of the competition are invited to attend a three-day business boot camp where they meet professionals from across Alaska’s business community, network with other entrepreneurs, and learn how to write comprehensive business plans.