The Queens Borough President’s Office works strategically and collaboratively to support the Queens business community, which includes Chambers of Commerce, the 13 Business Improvement Districts, non-profit organizations and the local development corporations to enhance the business community, and to support workforce development to advance and promote the growth of the borough of Queens.
Scroll down to learn about some of the major economic development initiatives underway, courtesy of the Queens Borough President’s Office.
Developed and presented in partnership with the Queens Economic Development Corporation (QEDC), the Queens Tech + Innovation Challenge is a multi-month competition for Queens-based entrepreneurs in search of funding. The initiative includes entrepreneurial classes, one-on-one mentorship opportunities and networking events to help applicants develop their pitches, which will be heard by a panel of judges in Spring 2023.
The QTIC will be divided into five categories: Urban Tech, Big Data and Artificial Intelligence, Aviation and Hospitality Technology, Community, and Food-Based.
To participate in the QTIC, interested individuals must first complete an intake form and a 2-page application prior to March 1, 2023. Along with the application, entrepreneurs must submit a video pitch of up to three minutes long, as well as a three-year financial projection. The intake form and application are not required to be completed simultaneously.
Interested individuals must be Queens-based entrepreneurs age 18 and older and will be required to attend a minimum of four online workshops hosted by QEDC, among other criteria, in order to apply. For the full list of eligibility requirements and instructions on how to apply, click here.
After applying, entrepreneurs will be able to connect with QEDC advisors for one-on-one mentoring sessions and attend a variety of QTIC networking events in the coming months. In Spring 2023, 15 finalists will be selected — three from each category — to participate in Pitch Day, with each finalist pitching their start-up to a panel of judges. One winner will be declared in each category and awarded with $20,000 in funding.
Queens Borough President Donovan Richards, in partnership with the City and Pursuit, launched the Queens Small Business Grant Program to provide resources to small businesses impacted by COVID-19. Through a generous $17.5 million donation from Steve Cohen, the City partnered with community-based organizations to offer $15 million worth of grants to Queens small businesses in need up to $20,000 to support operational expenses.
In an effort to support small business recovery, Borough President Richards worked with the New York City Economic Development Corporation (NYCEDC) to provide Queens-based small businesses and vendors that are minority-owned, located in one of the COVID-19 hardest hit zones or low-and moderate-income communities (LMI) with financial resources.
More than 750 entities were approved for funding for grants averaging more than $18,000. Click here for full Queens Small Business Grant Program statistics.