AMARILLO, Texas (KAMR/KCIT) — Officials announced Tuesday that the deadline for the application for the 2022-23 Amarillo EnterPrize Challenge, hosted by the WT Enterprise Center and funded through the Amarillo Economic Development Corporation, will end next month.

According to a news release from the WT Enterprise Center, this yearly EnterPrize Challenge gives participants the chance to have qualified coaching and a support system for their companies in achieving their goals and reaching the next level of their business.

The application period is scheduled to end on Sept. 30, the release said. The winners of the 2022-23 challenge are expected to be announced on Feb. 23, 2023. Applicants are required to RSVP for a mandatory orientation class hosted during September.

According to the release, four businesses in the Amarillo/Canyon area were awarded a share of $399,000 of capital. Since the program began in 1995, local businesses have received assistance with business plans, marketing and management, investor fact sheets and mock presentations.

“This program offers more than just an opportunity to seek capital,” Brian Enevoldsen, the WT Enterprise Center program manager, said in the release. “While every business undoubtedly could benefit from having more cash on hand to scale operations and grow, spending time developing a well thought-through and researched business plan provides the owner with their path forward.”  

Officials from the Amarillo EDC said that this challenge is a way for the corporation to promote business expansion and help build a “stronger, more diversified, economy.”

‘Well, this is a tremendous opportunity for some of our smaller businesses to expand their operation, says Kevin Carter, president and chief executive office of Amarillo EDC.” “There’s several success stories out there, through the years that have done really well with the program. And that money that they won during the enterprise challenge, just helped them get to that next level.”

A list of requirements for eligible companies, award recipients and rules can be found on AmarilloEnterPrizeChallenge.com