The purpose of this competition is to ignite the entrepreneurial spirit in South Dakotans, assist with start-up funds and provide a format where competitors can meet and explore their ideas with judges, investors, representatives from various assistance organizations, economic development professionals and successful business owners. Ultimately, Giant Vision exists to create new jobs and grow the South Dakota economy.
Since its inception in 2005, there have been 460 applicants to the business competition. Out of those 460, a percentage have been highly successful and report raising $96 million in equity and other funding. Many have also received GOED/REDI fund loans.
Giant Vision prize money is raised from private business sponsors with partial matching funds from Governor Kristi Noem’s Office of Economic Development. The first place Business Competition prize is $20,000, with prizes paid through fifth place. Click here for sponsors and prize levels awarded.
If you are a South Dakota resident with a unique idea or method and are committed to operating your business in South Dakota, you are eligible to apply. If your business is operational, you may not have been in business for more than three years as of the event date, with annual sales revenues not to exceed $500,000.
If you do not reside in South Dakota, you do not qualify for this competition.
Giant Vision has a separate competition for students that requires attendance at a South Dakota school but not state residency.