Applications are being taken for the Path to Prosperity Business Competition, an annual business development competition for businesses with a positive economic, environmental, and community impact on Southeast Alaska. It is sponsored by Spruce Root.
This year’s competition cycle is open to Alaska Native entrepreneurs residing in Southeast Alaska.
Additionally, the program introduces a STEM/TEK Track, providing specialized support for businesses in science, technology, engineering and math-related industries and/or using traditional ecological knowledge. While STEM/TEK-related businesses are encouraged to apply, the competition is open to all industries.
Businesses are judged based on their feasibility and contributions to community development. The competition includes intensive, in-person training for 12 finalists at “Entrepreneur Camp” (Formerly called Boot Camp) in Anchorage in late-September in partnership with Alaska Growth Capital’s Alaska Marketplace Competition.
Two winners will be selected to receive awards of $20,000. Program awards can be used for consulting, technical assistance, and long-term capital expenditures.
For 12 years, more than 458 businesses and start-ups in 23 Southeast Alaska communities applied to the competition. The program trained 168 entrepreneurs and awarded 26 winners a total of $760,000 to build their local businesses.
Participants are trained in the “triple-bottom-line” approach to building a business, which teaches how to measure success across indicators that track profitability, as well as, the environmental and social impacts of their business.
Previous winners include Adventure Harves (Haines), Coastal Heating and Repair (Yakutat), Skyaana Coffee Co. (Klawock), Barnacle Foods (Juneau), Foundroot (Haines), Coastal Heating and Repair (Yakutat), Icy Straits Lumber (Hoonah).
Spruce Root announced the winners of the 2025 Business Competition — Ravens Nest Regalia and Arts and Sitkan — on Feb. 11, at the Southeast Conference Midsession Summit.
The deadline to apply for the business competition is 11:59 p.m. May 30.
Those who wish support in filling out the application are asked to contact the team no later than May 23.
Spruce Root provides local entrepreneurs with access to business development and financial resources in the form of loan capital, business coaching, workshops and competitions. These programs support new and existing businesses in Southeast Alaska and empower business owners through increased self-sufficiency.
To learn more about Path to Prosperity or Spruce Root’s other services, visit the website at www.spruceroot.org or email grow@spruceroot.org.
For information, questions about eligibility, or to apply, go to spruceroot.org/business-competition.
