2024 RISE Challenge
0
Days Left
to Enter

The Raising Innovative Sherman Entrepreneurs (RISE) Program is an initiative of the Sherman Economic Development Corporation (SEDCO) to help identify, develop, and fund local entrepreneurs. The program goal is to incentivize young Type-A-eligible companies that will be based in the city limits of Sherman, Texas, and have high potential to expand operations and positively impact the local economy. Full instructions for submission are found in the downloadable RISE Information Packet. 

Your initial application will be reviewed for eligibility based on the following (all submitted information is kept CONFIDENTIAL): 

  • Company must have been in business 1 year but no more than 5 years as of October 25, 2023.
  • Company must be located within Sherman, TX, or willing to relocate and secure a purchase or lease agreement by April 5, 2024.
  • More than 51% of revenue must come from outside Grayson County within 3 years of winner announcements.
  • Company must be Type A eligible per Texas law and can classify the business with a qualifying NAICS Code. See RISE Information Packet (p.6). 
  • Company must submit their most recent federal tax return or documentation of a minimum of 1 year of sales wtih their RISE application. 
  • For Round 2, a credit history report and criminal background check will be obtained for all owners and active spouses with 20% or more of ownership.
  • Company and/or owner must not be a prior RISE winner.
  • Company must not compete directly in terms of product, distribution, service and/or promotion with a former RISE award recipient. SEDCO will determine this during one-on-one interviews.
  • Owners cannot be related by first degree of blood or marriage or have investors that are members of the SEDCO Board of Directors and staff, RISE Partners, or RISE Judges. See RISE Information packet (p.5) for more details. 

Please submit your two-minute "elevator pitch" video to include the following: 

  • Background & current status of the business
  • Describe how winning RISE will benefit your business/idea
  • Essentially, we want to know who you are, show and tell us about your product, how much funding you are seeking from the RISE Challenge, and how those funds will be used to help your business meet its goals. Video does NOT need to be professionally produced, but should clearly describe the above elements.