RISE is a collaborative program to support “Raising Innovative Sherman Entrepreneurs.” Through RISE, local officials are cultivating an entrepreneurial ecosystem for promoting job creation and business investment at the local level.
The RISE program seeks to award a total of $250,000 in March 2024 in cash grants to entrepreneurs selected through a five-month-long local competition. All aspects of the program are supported by Austin College, SEDCO, and the Grayson SBDC, each providing a unique resource to advise companies as they compete. Also partnering to provide support are Sherman companies PQD Design & Manufacturing and accounting firm Lori Ann Cannon, CPA.
The 2024 competition is the third year of RISE. Grantees from the first two years have received a total of $392,500 in funds. They represent a variety of growing businesses, from medical device manufacturing to a family-owned clothing producer, trucking to e-commerce.
For the 2024 Challenge, manufacturing-related businesses operating between one and five years as of October 25, 2023, are invited to compete, but must operate or relocate within the Sherman city limits to receive the grant. Complete information on eligibility requirements and the application process is available through the competition website at www.RiseInSherman.com.
Competition materials will be submitted through the online RISE Challenge submission portal, which is open September 25 through October 25, 2023. Applicants selected to proceed to a second phase will complete additional steps. Winners will be announced in March 2024.
About SEDCO
Since 1996, the Sherman Economic Development Corporation (SEDCO) has focused on a mission to grow and diversify the economy of Sherman, Texas, and the surrounding area through the addition of new jobs and investment in primary employers. The RISE Challenge, through its financial and educational support of local entrepreneurs, fulfills a primary objective of SEDCO’s strategic plan to develop an innovative ecosystem for Sherman and North Texas.
About Austin College
Founded in 1849, Austin College is a private, four-year liberal arts institution, the oldest college in Texas under its original charter. Austin College’s Morris Entrepreneurship Program, Department of Business Administration and Economics, and the Center for Community & Regional Development coordinate the RISE Challenge from the initial application process through the competitive judging stage as candidates compete against one another for award funds.
About Grayson SBDC
The Grayson Small Business Development Center (SBDC) is a management counseling service for small businesses, funded by the U.S. Small Business Administration, the State of Texas and Grayson College. The SBDC will provide training for companies selected for Phase II of the RISE Challenge, including review and assistance with developing a detailed business plan and proforma for submission. 2024 RISE Challenge winners will receive additional counseling throughout the performance period.
About PQD Design & Manufacturing
PQD Design & Manufacturing is a global manufacturing solution provider with engineering offices and manufacturing facilities in Sherman, Taiwan, China, and Vietnam. PQD product
designers, engineers, and manufacturing experts can take a product from concept, through engineering and prototyping, to mass production of the final product. PQD can offer a winner(s) of the RISE Challenge assistance with product research and development.
About Lori Ann Cannon, CPA
Lori Ann Cannon, CPA is a Sherman-based full-service CPA firm that was formed with the overall goal to provide small businesses just starting or needing to invest more in accounting type services, small cities, nonprofit organizations, and housing authorities, with professional assistance in all areas of accounting, auditing, consulting, and tax services.