Submissions are being accepted for the 5th Annual Startup Lehigh Valley pitch competition.
Lehigh University is teaming up with Factory LLC to put on this year’s event, which will have a grand prize of $20,000. The event will be held Oct. 25 from 6:30 p.m. to 8 p.m. at Factory LLC in Bethlehem. It will be televised and livestreamed by WFMZ. 
The Shark Tank-style event is designed to highlight startup companies in the Lehigh Valley and throughout Pennsylvania. Ten finalists will pitch their products and businesses to a panel of judges.
“The StartUp Lehigh Valley pitch competition is designed to help grow and showcase the entrepreneurship that’s already happening in the Valley and getting the community excited about supporting these local startups,” said Richard Thompson, the Founder of Factory LLC, a business innovation center for food, beverage, and pet companies.
“We are thrilled to be partnering with Lehigh University and would like to thank them for providing vital resources to our local entrepreneurs year-round. We encourage all college and university students to participate along with residents and professionals living and working in the Lehigh Valley,” Thompson said.
“Lehigh is proud to be a partner for this year’s event. Richard Thompson and his team have created an exciting program, which we are proud to be able to support. The wide variety of entrepreneurs and products coming out of this program in the past have been innovative and interesting and we look forward to engaging with the contestants and the community,” Lehigh Provost Nathan Urban said. “We are excited to see what new ideas will be a part of StartUp Lehigh Valley this year."
In addition to the grand prize, the top two runners up will receive prizes of $3,000 and $2,000, respectively. There is a $5,000 Ben Franklin Award from Ben Franklin Technology Partners of Northeastern Pennsylvania, and three $500 Penn State Lehigh Valley LaunchBox Boost Awards. The live and virtual audience will vote for the winner of a $1,000 Audience Choice award.
All participants are connected with LaunchBox’s resources for startup businesses, which include legal advice, marketing resources, mentors, and grant-funding opportunities.
The deadline to register is Sept. 22. Register here.
Entrepreneurism is a key component of the Lehigh Valley economy. Startup businesses drive innovation and can grow into larger companies with large workforces that develop critically needed products and services. Lehigh Valley Economic Development Corp. (LVEDC) encourages entrepreneurism such as Startup Lehigh Valley. LVEDC’s Entrepreneurship Council identifies services that entrepreneurs need and connects them with resources to help grow their businesses.
Thompson said his company considered dozens of cities for the location of their Factory LLC innovation and scaleup facility and found what they were looking for in the Lehigh Valley. Now Factory LLC is helping to provide a platform to continue that innovation.
“The Lehigh Valley has easy access to major airports and cities, a competitive talent pool, top-tier universities, and an exploding logistics industry. It’s perfectly poised to become a hotbed for innovation, and this competition is all about building that entrepreneurial community. This event is helping to develop the startup ecosystem right here in the Lehigh Valley,” he said.
Other sponsors of the 5th Annual Startup Lehigh Valley include JPMorgan Chase & Co., LVEDC, Lehigh Valley Health Network, Greater Lehigh Valley Chamber of Commerce, HNL Lab Medicine, Adams Outdoor Advertising, City Center Allentown, B104, and J.G. Petrucci Co.