Idea Leap Grants – Up to $225,000 for Local Small Businesses (United States)

The 7th Annual Idea Leap Grant will include competitions in the Chattanooga, Ocoee and Northwest Georgia regions.

Economic Support

• During the year 2024 there will be three Economic Support Competitions. One to be held in Chattanooga, TN for the Chattanooga TVFCU member area; one that will be held in the Ocoee Region, in TN that will be for the Ocoee Region TVFCU member area, and one for the Northwest GA TVFCU member area. Companies can only apply to one of the three competitions. Applicants must apply in the geographic area in which they conduct the majority of their business.
• There will be five (5) winners for each of the areas: one (1) Grand Prize will receive a Financial Support of $30,000.00 dollars; One (1) First Prize will receive a Financial Support of $15,000.00 dollars; three (3) (runners up) second prizes will receive a Financial Support of $10,000.00 dollars each.

Eligibility Criteria

• Eligible participants will be all small businesses operating within the service area of the 17 Counties covered by TVFCU and as defined below. Eligible entrants must continue to meet the following criteria: Contest is open only to legal residents/business enterprises of the 17-County TVFCU community who at the time of entry are independent owners/operators of a forprofit small business who is domiciled in the 17-County TVFCU community and has been in Continuous Operation selling a product or service for no less than twelve (12) months at the time of application. To be considered an eligible “small business” for the purposes of this Contest, a business must meet all of the following criteria:
  • VFCU is proud to support eligible nonprofit organizations located in the following areas: Bledsoe, Bradley, Grundy, Hamilton, Marion, McMinn, Meigs, Polk, Rhea and Sequatchie counties in Tennessee; and Catoosa, Chattooga, Dade, Gordon, Murray, Walker and Whitfield counties in Georgia.
  • Participant/owner must be at least eighteen (18) years of age compliments at the time of entering the contest;
  • The business must be currently active, operating legally and have all the necessary and required licenses and registrations;
  • Participant/owner must be an authorized agent of the registered business;
  • The business must be in good standing with the Tennessee/Georgia Secretary of State and the County Clerk’s office in its home County on the date of entering the contest and must remain so until the end of the contest;
  • You must meet the business service or company affiliation criteria;
  • Not be affiliated in any way with a sales business or direct seller;
  • Not be under bankruptcy protection or have any liens or liens;
  • Participant/owner must not be on the OFAC list, individuals with prior felony convictions may be eligible. The TVFCU Financial Support Advisory Committee or its designee will determine the eligibility of any applicant with a felony conviction.

For more information, visit Tennessee Valley Federal Credit Union.