AUSTIN COLLEGE, SEDCO, GRAYSON SBDC LAUNCH SHERMAN ENTREPRENEURIAL CHALLENGE GRANT PROGRAM

Austin College, the Sherman Economic Development Corporation, and the Grayson Small Business Development Center are pleased to announce the inaugural RISE Challenge program.

RISE is a collaboration of three organizations all working together to start "Raising Innovative Sherman Entrepreneurs.” This objective is based on a need to place greater emphasis on a "homegrown approach" for promoting job creation and business investment at the local level, thereby enhancing income opportunities and the quality of life for Sherman residents.

The RISE program seeks to award up to $250,000 in cash incentives to Sherman-based entrepreneurs selected through a 6-month-long local competition. All aspects of the program are supported by Austin College, SEDCO, and the Grayson SBDC, each providing a unique resource to aspiring individuals.

“Many cities are recognizing the importance of establishing and cultivating an entrepreneurial ecosystem within their business community,” said Kent Sharp, President of SEDCO. “RISE will allow some of Sherman’s economic development sales tax dollars to be allocated to aspiring young entrepreneurial endeavors in need of capital for growth.”

Individuals and companies interested in entering the RISE Challenge can attend either of two public interest sessions on December 10, 2020 or January 7, 2021. Both sessions will begin at 5:30 p.m. at the Sherman Municipal Ballroom, 405 N. Rusk in Sherman. Pre-registration is requested, accessible through the competition website at www.RiseInSherman.com.

The competition is open from December 1, 2020 through January 31, 2021. Winners will be announced in May 2021. Additional information about the Challenge is available on the RISE website.

About Austin College

Founded in 1849, Austin College is a private, 4-year liberal art institution, the oldest college in Texas under its original charter. Austin College's Morris Entrepreneurship Program, Department of Business Administration and Economics, and the Center for Community & Regional Development will coordinate the RISE Challenge from the initial application process through the competitive judging stage as candidates compete against one another for award funds.

About SEDCO

Since 1996, the Sherman Economic Development Corporation (SEDCO) has focused on a mission to grow and diversify the economy of Sherman, Texas, and the surrounding area through the addition of new jobs and investment in primary employers. The RISE Challenge, through its financial and educational support of local entrepreneurs, will carry out a primary objective of SEDCO’s strategic plan to develop an innovative ecosystem for Sherman and North Texas.

About Grayson SBDC

The Grayson Small Business Development Center (SBDC) is a management counseling service for small businesses, funded by the U.S. Small Business Administration, the State of Texas and Grayson College. The SBDC will provide training for companies selected for Phase II of the RISE Challenge, including review and assistance with developing a detailed business plan and proforma for submission. 2021 RISE Challenge winners will receive additional counseling throughout the performance period.

Media Contacts

Cary Wacker, Director of Strategic Communications & Community Engagement Austin College

cwacker@austincollege.edu

903.813.2042

Kent Sharp, President

Sherman Economic Development Corporation kents@sedco.org

903.868.2566

Dr. Karen Stidham, Executive Director Grayson Small Business Development Center stidhamk@grayson.edu

903.463.8787