Kitsap Bank was honored at the Association of Washington Business’s Evening of Excellence by being awarded the Manufacturing Excellence Award for Innovation; which honors a company that maintains a competitive advantage by utilizing innovation while remaining responsive to market demands. Kitsap Bank was recognized for this award for their edg3 FUND small business competition.

“We are honored to receive this award,” remarked Tony George, Kitsap Bank’s President and Chief Operating Officer. “Kitsap Bank’s mission statement is to responsibly provide for the prosperity of our communities through continuous improvement and innovation, and we challenge ourselves to live up to this daily. That’s why we are so honored to receive this Innovation Award for our edg3 FUND small business competition.”

Edg3 FUND

edg3 FUND was introduced in 2014 by Kitsap Bank’s Green Team to commemorate Earth Day, and has continued as an annual event held during Global Entrepreneurship Week.  The competition covers all of Kitsap Bank’s market area in Western Washington, and is open to all small businesses.  Contestants submit an application and a two minute video about their business, which are reviewed by a panel of judges.  The judges choose 10-15 companies to compete as semi-finalists, and the company backgrounds and videos are posted on Kitsap Bank’s website and social media for a two week public voting period.  The public vote helps to inform the decision of which five companies will compete in the final live competition.  The live pitches are presented before an audience of approximately 300 people, as well as a panel of independent judges.  The judges determine which company will receive a grand prize of $25,000.  In 2016, Kitsap Bank created a new cash prize of $5,000 for the Community edg3 Award.  This award can be earned by any one of the semi-finalist companies, and is chosen as the one that in the judges’ opinions best exemplifies the spirit of community.  Since its inception, Kitsap Bank has awarded over $145,000 to small businesses throughout Western Washington.

 

Established August 8, 1908, Kitsap Bank is headquartered in Port Orchard, WA, operating 21 locations throughout Western Washington.  With over $1 billion in assets, the Bank provides a full range of financial services to commercial and individual clients.  Kitsap Bank has been named a Preferred Lender by the U.S. Small Business Administration, and a Corporate Philanthropist by the Puget Sound Business Journal.  Kitsap Bank is ranked the 12^th largest bank based in the State of Washington and is the sixth largest women-owned business, according to the Puget Sound Business Journal.  The Bank was named Family-Owned Business of the Year in 2015 by Seattle Business magazine and has a 5 Star rating from BauerFinancial Inc. For more information, visit kitsapbank.com and follow us on Facebook, LinkedIn and Twitter.  

###