The purpose of this competition is to ignite the entrepreneurial spirit in South Dakotans and to offer an opportunity to compete for start-up funds. The program provides a format where finalists can meet and present their ideas to judges, investors, representatives from various assistance organizations, economic development professionals and successful business owners. Finalists compete for prize money. The competition exists to create help new jobs and grow the South Dakota economy.
The application deadline for the 2025 competition is 11:59 PM (MST), Friday, January 3rd.
The competition will be held Wednesday, February 26, 2025 at the Ramkota Hotel & Conference Center in Pierre (with setup Tues., Feb. 25, 1-4 PM).
Since beginning in 2005, nearly 500 South Dakota residents have applied to the business competition. An ever-growing number of businesses have been highly successful and, in 2021, reported raising $96 million in equity and other funding. Many have also received GOED/REDI fund loans.
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 sixth place. Click here for sponsors and prize levels awarded.
ELIGIBILITY
If you are a South Dakota resident with a unique idea and are committed to operating your business in South Dakota, you are eligible to apply. Is your business up and running? If yes, 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.
BEST ADVICE
In South Dakota, there are multiple agencies working to assist individuals with developing successful businesses. Anyone interested in the Giant Vision Competition is strongly urged to connect with an agency in their area before applying. The complete list is available here Business Assistance Directory.
2024 -25 OPPORTUNITIES
FAST Launch
The South Dakota FAST Launch program is designed to assist South Dakota entrepreneurs with beginning their businesses through workshops and potential market research funding or seed capital. Businesses may also compete in the Governor’s Giant Vision Competition or for SBIR/STTR funding. The purpose of FAST Launch is to help people develop their business idea through the lean launch methodology by engaging in customer discovery and business model validation. FAST Launch is also designed to prepare people for the Governor’s Giant Vision Competition which will be held February 26, 2025, as well as other business competitions.
Second Season 2024-2025 South Dakota FAST Launch program details and registration – https://www.sdbio.org/blog/south-dakota-fast-launch
REGIONAL I-CORPS
Regional I-Corps trainings are for faculty, researchers, and students with technology-based innovation ideas or Intellectual Property and a strong interest in commercializing their technology. Upon submitting an application, teams will be contacted by a Great Plains Regional I-Corps Hub team member regarding program acceptance. This course is free for all participants.
The 2025 schedule is available here – https://gp-icorps.org/events/
Giant Vision has a separate competition for students that requires attendance at a South Dakota school but not state residency.
