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SALISBURY, MD---The seventh round of a five-year, $1 million program to create new jobs takes place Friday, October 28, at ¾ÅÐãÖ±²¥ as entrepreneurs vie for their share of up to $200,000 in business funding.

In 2013, the Philip E. and Carole R. Ratcliffe Foundation announced the $1 million gift to SU’s Franklin P. Perdue School of Business to establish the Ratcliffe Shore Hatchery. Its goal: to fund entrepreneurs and have new businesses opening within six months, with the potential of employing three or more within a year.

Each academic year through spring 2018, up to $200,000 will be available for those applying for grants through the Shore Hatchery program. Its board of directors selects recipients based on multi-round presentations.

Applicants representing multiple geographic territories and business sectors will compete in a Shark Tank/Gull Cage contest that day, delivering elevator pitches to the judges.

New this year is a public exhibition of applicants, featuring information about their submissions, beginning at 2 p.m. on the third floor of Perdue Hall. Winners are expected to be announced at approximately 5:30 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 Holdings, Frank Gunion of South Moon Under, Jennifer Layton of Layton’s Chance Vineyards and Winery, Bruce Rogers of Sherwood of ¾ÅÐãÖ±²¥, Katherine Kiernan of APPI Energy and Sandy Fitzgerald-Angelo of Pohanka Automotive, among others.

Admission to the announcement of winners and reception is free, and the public is invited. For more information call 410-543-6316 or visit the Perdue School website at www.salisbury.edu/perdue.