08/27/2024 ECONOMIC DEV AND INDUSTRIAL COMMITTEE Minutes

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Carol said that Julia Quintero-Schultz of the Mashpee Chamber of Commerce will also come to the next EDIC meeting. Revised Proposed Rules (Carol Sherman will have town counsel review these): 1) All businesses must be based in Mashpee 2) Competition is open to businesses that have been in operation from 1 to 3 years 3) Entrant/owner must be at least 18 years of age at the time of entry 4) The business must be currently active, lawful, and have all necessary and required licenses and registrations 5) The entrant/owner must be an authorized agent of the registered business 6) The business must be in good standing with the Massachusetts Secretary of State as of the date of entry and through the end of the contest 7) The business should not be a franchise or a direct seller business 8) The business must be in good financial standing—not be under bankruptcy protection or have judicial liens or attachments 9) The business must have annual revenues of less than $1 million as demonstrated by tax returns or other means acceptable to the EDIC Entrants/owners will affirm: 1) They have necessary licenses, rights, consents, and permissions to reproduce, distribute and publicly perform all works of authorship or content contained in their application and their pitch 2) At the time of entry through the end of the contest, none of the entrant’s materials contravenes any contractual, legal, or other obligations 3) At the time of the entry through the end of the contest, none of the entry materials infringe on the intellectual property or privacy rights of any third party 4) Use of entrant’s entry materials will not infringe any copyrights, rights of publicity, or any other rights of any person 5) Entrant’s entry materials are truthful and accurate; entrants have complied with all relevant laws, rules, and regulations in the preparation and submission thereof. 6) Contestants will allow the EDIC to use their logo and name as part of the contest and to promote the contest. Timeline:  12/31/2024 – 2/1/2025 Application submissions  2/1/2025 – 2/28/2025 – Applications are reviewed; those who make the next step are invited to record their pitch at Mashpee TV. Judges would include business representatives from the community.  March 2025-Winners will be announced at the Chamber dinner. After submission, the EDIC will review submitted entries that meet eligibility requirements and evaluate them based on the following: 1) Answers questions completely and thoughtfully (rated 1-10) 2) Discusses how the business will use the money (rated 1-10) 3) Understanding of marketing and competitive advantages (rated 1-10) 4) Ideas are well-articulated and realistic (rated 1-10)