How innovative business owners can score $25,000
Lexus and serial entrepreneur Mark Bouris have teamed up to provide four $25,000 grants to business owners who need a cash boost or those who want to bring innovative ideas into reality.
The ‘Lexus and Mentored Grant’ is a new grant designed to help small business owners and entrepreneurs who have been unable to get their business idea off the ground due to the Covid-19 crisis.
Bouris is the founder of wealth management firm Yellow Brick Road and Wizard Home Loans, has mentored entrepreneurs on his reality TV show The Mentor.
He will sit on a panel of advisors who will be looking out for sustainable and innovative initiatives that “improves the lives of those around them,” according to a statement by Lexus.
“With the introduction of this new grant, we hope to inspire a new generation of entrepreneurial thought and innovation, encouraging those on the cusp of success to take control of their future journey and take a chance on their dreams,” Bouris said.
To be eligible, you’ll have to be an owner of a small business in Australia and at least 16 years old.
You’ll also have to demonstrate how you “exemplify innovation” and how you pivoted during the Covid-19 pandemic.
You’ll also have to “share Lexus brand values for sustainability, design, technology, experiences and customer service,” according to the grant website, and also have “entrepreneurial spirit”.
How to apply
The grant will be delivered through Bouris’ ‘Mentored’ program. Applicants who wish to apply for the grant will view the five-episode ‘How to pitch’ video masterclass that is already available online, delivered by Bouris and business consultant Larry Robertson.
The videos take you through preparation, delivery, and role play.
To apply for the grant, applicants will have to create a 60-second video pitch to be privately uploaded to YouTube. The YouTube link should be submitted to the Lexus and Mentored Grant website.
But in order to receive the money, you'll have to put in some leg work: according to the grant’s terms and conditions, you’ll have to submit a business plan outlining how you’ll use the funds, as well as quarterly KPIs.
To enter the competition, you’ll also have to concede for your data to be “used” and “captured” through your submission, which “may result in seeing advertising from Lexus or Mentored”.
Lexus and Mentored also have the right to revoke sponsorship if KPIs aren’t met, or if grant winners behave in an “unbecoming” way.
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