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SALISBURY, MD---The 11th round of a 10-year, $2 million program to create new jobs takes place Friday, October 26, at ¾ÅÐãÖ±²¥ as entrepreneurs vie for their share of $200,000 in business funding.

    The Philip E. and Carol R. Ratcliffe Foundation Shore Hatchery program was established with an initial $1 million contribution in 2013. In 2017, the Ratcliffe Foundation announced a second $1 million gift to continue the Shore Hatchery through spring 2023. It is administered through SU’s Franklin P. Perdue School of Business.

Its goal: to fund entrepreneurs and have new businesses opening within six months, with the potential of employing three or more within a year.

    Up to $200,000 annually is available for those applying for grants through the Shore Hatchery program. Its board of directors selects recipients based on multi-round presentations.

Through the program, applicants representing multiple geographic territories and business sectors pitch their business ideas to the board during a “Gull Cage” competition similar to the format used for ABC-TV’s Shark Tank. Each spring and fall, the program awards a share of $100,000 to business startups.

A public exhibition of applicants, featuring information about their submissions, begins at 1:30 p.m. on the third floor of Perdue Hall. Winners are expected to be announced at approximately 4 p.m. in the Perdue Hall Atrium, followed by a reception.

Ratcliffe Shore Hatchery board members include Jim Perdue of Perdue Farms; Dave Rommel and Mike Cottingham of Rommel Chesapeake, Inc.; Jennifer Layton of Layton’s Chance Vineyards and Winery; Katherine Kiernan of the Perdue School Executive Advisory Council; and Sandy Fitzgerald-Angello of Pohanka Automotive Group of ¾ÅÐãÖ±²¥, among others.

Admission to the public exhibition, announcement of winners and reception is free, and the public is invited. For more information call 410-546-4325 or visit the Ratcliffe Shore Hatchery website.