Companies in Newark partner to offer small business challenge

  • 2022-06-12
A challenge launched by Audible will offer a prize worth $25,000 to start-up businesses in Newark.

TechUnited:BetterConnected Challenge Newark is an initiative focused on supporting small businesses in Newark. Audible, based in Newark and a producer and seller of audiobooks, is partnering with TechUnited to offer a cash prize to entrepreneurs to assist and accelerate the growth of main street businesses and retailers in the city.

Applicants need to solve the Challenge Statement of how technology might help them to modernize and grow their business. The solution needs to address the impact of technology specially for minority-owned businesses. Applicants need to have generated a revenue of $1m or less and be based in the United States, with preference given to those already operating in Newark, companies based in New Jersey, and those that will create jobs in the state. More information about the requirements and criteria for such challenges is often outlined with flyer printing.

Ian Moraes, vice president of software development for Audible, said that the goal of the challenge is to expand access to financial and capital equity, provide main street businesses with digital access, and increase retail traffic and value for customers. In addition, applicants who relocate their business to the city have the potential to earn $10,000 to help with the cost of Newark office space. Audible executives will also be offering a mentorship opportunity.