The following press release was sent to the Bloomingtonian Tuesday:
“Crossroads Pitch Competition Announces New Spring Event
Indiana-Based Startups to Compete for Cash, Connections
Bloomington, Ind.—Today The Mill, a nonprofit center for entrepreneurship and coworking, announced the launch of a second date for Crossroads Pitch Competition, its statewide competition for Indiana-based startups. Now in its fifth year, the flagship Crossroads event occurs in fall. Applications are open for the new spring event, with finals scheduled to take place in March.
See how Indiana’s entrepreneurial ecosystem is gaining momentum at https://www.crossroadspitch.com/
“Indiana’s startup scene is hot right now,” said Andy Lehman, Head of Accelerator Programming at The Mill, “and fast access to capital is essential to startup growth. Founders can’t afford to wait a whole year for the next Crossroads. We’re adding a spring event to expand the window of opportunity and grow Indiana’s innovation economy.”
The winner of Crossroads receives a prize package of cash and in-kind services valued at over $10,000, as well as priority consideration to pitch at Elevate Ventures’ prestigious Nexus Pitch Competition for the chance to win up to $80,000 more. Competitors also connect to the state’s startup ecosystem leaders by gaining exposure to Crossroads judges, a panel of over 30 representatives from state and regional investors, entrepreneurs, and business experts.
Entrepreneurs report that Crossroads has significantly impacted their business growth. Stuart Lowry, co-founder of ArcticRX, the fall 2021 winner, described winning Crossroads as “a dramatic milestone” that put his startup “at a crossroads to the world.” ArcticRx’s reusable, low-cost shipping pod keeps vaccines at ultra-low temperatures up to five times longer than current methods, thus solving a critical problem in transporting vaccines to remote and rural areas.
Jennie Moser, CEO of Stagetime, a networking platform for the performing arts, won Crossroads in 2020. “The non-dilutive prize money allowed me to move to Stagetime full-time before I had originally planned,” she commented, “and even more importantly, to seize the opportunity to bring one of my most valuable contractors on full-time.” In 2021, Stagetime went on to close a $1.55 million seed round.
Ellie Symes, the first winner of Crossroads in 2017 (then known as inX3), was recently named to the Forbes 30 Under 30 list for enterprise technology. Symes is CEO of The Bee Corp, an agri-tech company that uses infrared imagery to measure the strength and pollination value of honeybee colonies.
To compete at Crossroads, startups must be based in Indiana and have annual recurring revenue of under $250,000. Applicants submit an executive summary, a pitch deck, and a 3-5 minute pitch video. The application deadline is January 31.
The Mill launched Crossroads Pitch Competition in 2017 as a regional event. Since then, it has grown to become one of Indiana’s biggest statewide competitions, each fall attracting competitors from all over Indiana. In 2021, The Mill added a collegiate division exclusively for student founders. The Crossroads family of events also includes an idea competition and a white-label event platform to help other organizations and regions in Indiana hold their own pitch competitions and grow Indiana’s innovation economy.
See details on eligibility, prizes, and application to the spring 2022 Crossroads Pitch Competition at https://www.crossroadspitch.com/.
About The Mill
The Mill (https://www.dimensionmill.org/) is southern Indiana’s largest coworking space. Its mission is to spark Bloomington’s innovation economy by launching and accelerating startups, and its vision is to become Indiana’s center of gravity for entrepreneurship.”