Kitsap Bank recently announced its edg3 FUND small business competition will undergo significant changes in 2020.

Created in 2014, the edg3 FUND is the bank’s annual small business competition that recognizes entrepreneurs dedicated to growing the community economically, socially, and environmentally. This year the competition will also recognize small businesses that have demonstrated innovation and resiliency during the COVID-19 pandemic.

“We began the edg3 FUND small business competition to recognize small businesses that, like Kitsap Bank, are committed to making our community a better place and doing so in unique and innovative ways,” Tony George, Kitsap Bank President & Chief Operating Officer, said in a press release. “Now, in the midst of a pandemic, supporting our small business neighbors is more important than ever. We look forward to shining a light on our local businesses through edg3 FUND 2020 – telling their stories, connecting them to local resources for their business, and ultimately awarding prize money that we hope will give these deserving businesses an ‘edge’ during these challenging times.”

The edg3 FUND grand prize of $25,000 goes to the business that best demonstrates its commitment to the triple bottom line business model, contributing to the community economically, socially, and environmentally.

The Innovation Award of $10,000 goes to the company that demonstrates creativity, innovation and resiliency, providing unique solutions, products and services to remain relevant, competitive, and focused on long-term growth. Faced with challenges, the business adapts and overcomes obstacles.

The Community edg3 Award of $5,000 will be awarded to the business deemed most committed to making a difference in its community — giving back through volunteer work or monetary donations and working cooperatively with others to strengthen the community.

The Hometown Favorite Award of $5,000 goes to the business that receives the highest number of votes in the online public vote.

edg3 FUND finalists receive a video about their company, as well as exposure for their business through advertising and social media. The finalists also benefit through mentoring and connections to local resources for their business.

Kitsap Bank encourages the public to participate by nominating small businesses that they believe meet the edg3 FUND triple bottom line mission. Nominations will be accepted Aug. 3 through Aug. 31. Small business owners may also nominate themselves.

For access to the official rules and applications, click here.