Cedar Rapids launches competition offering free rent to boost downtown business growth

CEDAR RAPIDS, Iowa — Race for Space in downtown Cedar Rapids is now underway!

Downtown Cedar Rapids along with the Cedar Rapids Metro Economic Alliance have opened a competition where a winning business will receive six months of provided rent, entrepreneurial expert support, and connections to local business mentors, resources, and promotion.

Applications close on Monday, June 30 at 4 p.m.

Who Can Apply:

Race for the Space is open to any for-profit business (new or early-stage) willing to locate in downtown Cedar Rapids. Entrepreneurs must be at least 18 years old and may reside anywhere in the U.S. Multi-level marketing companies are not eligible. Complete rules and eligibility details are available on the website at raceforthespaceCR.org.

Competition Format:

The competition includes two phases:

Round One: Application Phase Submit a business concept by June 30 at 4:00 p.m. Finalists will be notified by July 11 and must confirm participation by July 16.

Round Two: Live Pitch Night Finalists will present their business ideas live on August 13 in downtown Cedar Rapids. A panel of judges will select the winner, announced that evening. More details on the event will become available soon.

Winner Expectations:

In addition to launching their business downtown, the winning entrepreneur agrees to:

• Attend monthly business education classes or workshops
• Meet with an assigned mentor each month
• Provide basic financial reports and regular updates