MainVest, a Salem-based company, has announced a pitch competition for businesses throughout New England. The winners will receive $1,000 per month for a year, according to a press release.
MainVest will pick winners based on viability of business model, Universal Basic Income (UBI) impact, community impact, and audience voting, among other criteria. The pitch contest is open to residents over 18 who are looking to start their business in a local community. Criteria is available at mainvest.com/dividend-terms-and-conditions.
“At MainVest, we believe that small businesses are the backbone of the American economy,” Nick Mathews, CEO of MainVest, said in the release. “With the rise in discourse surrounding UBI right now, we find the concept of providing financial breathing room for entrepreneurs looking to start a business compelling. We want to add to that conversation by seeing how UBI would impact a local entrepreneur here in New England.”