A 'Shark Tank'-style business competition returns to Milwaukee's near west side
A "Shark Tank"-style business competition that seeks to fill storefronts on the city's near west side is seeking another round of applicants.
Rev-Up MKE, sponsored by the non-profit Near West Side Partners, along with representatives from Marquette University and Town Bank, culminates Sept. 14 with a live pitch event at the Rave/Eagles Ballroom where each finalist will present before a panel of judges.
It's been three years since the last competition.
"We've gotten so many requests asking about when Rev-Up MKE was coming back, that we're excited to finally be able to say we're bringing it back," said Kelsey Otero, project lead for the competition and Director of Innovation at Marquette.
The winner, who will be announced at the Sept. 14 live pitch, will receive significant resources to support their new venture including $10,000 in cash and $25,000 of in-kind services such as small business mentoring, advertising, and architectural assistance.
The finalists and other contestants can also receive help from Near West Side Partners, whose mission is to revitalize and sustain neighborhoods bordered by I-43 on the east, HWY 41 on the west, Vliet Street and Highland Boulevard on the north, and I-94 on the south.
The near west side has around 350 businesses along five commercial corridors and is home to about 28,000 residents.
But it's also part of the city that's struggled with empty storefronts and blight.
"I think we are becoming a neighborhood where people are starting to look to grow their businesses. However we may not always be on their radar screen from the very beginning," Otero said.
Alan Goodman, owner of A Goodman's Desserts LLC, won the Rev-Up MKE competition in 2019. He rents commercial kitchen space in the Ambassador Hotel, an anchor business for the near west side at 2308 W. Wisconsin Ave.
Before the competition, Goodman was selling cookies, cakes and other baked treats through his website and at farmer's markets. Winning the event, he said, elevated his business profile.
"It really gave me a good start and boosted my business," he said.
The origin of A Goodman's Desserts was in his mother's kitchen in 1982.
As a youngster, Alan was grounded for skipping the library and playing basketball instead. As part of his punishment, he had stay in the kitchen and help his mom bake items passed down in family recipes.
It turned out he enjoyed the art of baking.
"You're making something that's very personal for someone and getting their feedback," Goodman said. "I really loved it, so I just continued to do it."
Goodman's advice for Rev-Up MKE contestants is that they have a clear understanding of their business plan, financial projections, and how they're going to achieve their goals.
"I'd also say you should have a good story to tell to get people interested," he said.
Since the launch of Rev-Up MKE in 2016, some of the finalists, as well as the winners, have opened and expanded their businesses.
Earlier winners included Pete's Pops that manufactures and sells popsicles at its flagship location on Vliet Street along with locations in Bay View and West Allis; Lisa Kaye Catering that operates a commercial kitchen and dining hall at the Forest County Potawatomi's Wgema campus; and Triciclo Peru that brings Peruvian flavors, through empanadas, pisco sours and more at its near west side restaurant.
The competition is not just for food businesses; rather it's for startups that Near West Side Partners and the panel of judges think will contribute to the neighborhood.
"It's part of our strategy to recruit and encourage businesses," Otero said.
"Our winner should be able to transform their vision into a physical storefront. We want to make sure that we're selecting businesses we think will be successful coming out of the Rev-Up MKE program," she added.
Applications for the competition can be obtained on the Near West Side Partners website or at their office located at 624 N. 24th. St. The deadline is before midnight Aug. 5, and the finalists will be announced in mid-August.
More: Here's the winner of the 2022 Wisconsin State Fair Sporkies food competition
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This article originally appeared on Milwaukee Journal Sentinel: 'Shark Tank'-style business competition returns to Milwaukee west side
