Got a great business idea? It might pay off during the second annual Business Pitch Contest.

Ceyero Consulting and the Booker T. Washington Economic Summit at Tuskegee University are organizing the event.

The contest gives local innovators in the Black Belt a chance to win cash prizes and business management consultations.

The contest will be held at the St. James hotel March 27 from 9:30 a.m. until 5:30 p.m.

Robert Armstrong, founder of the Selma Good Company, will be the keynote speaker.

Armstrong started the company by baking cookies in his parents’ kitchen. Now, G Mommas Cookies are distributed to more than 500 locations around the country.

A sponsor and organizer of the event is Mark Peterson, author of “Guerrillapreneur: Small Business Strategies for Davids Wanting To Defeat Goliaths.”

“Entrepreneurship is the best way for Black Belt communities to revitalize themselves and create jobs,” Peterson said. “The Booker T. Washington Economic Summit has been a leading force behind this effort for the last 18 years. We believe that the Business Pitch Contest in Selma is an opportunity to promote ideas that could stimulate more growth in Dallas, Choctaw, Marengo, Perry and Wilcox counties.”

Peterson, along with Steven South, will serve as judges for the competition.

The judges will evaluate the contestants on three equally weighted categories.

The first category is presentation. The contestants must make a PowerPoint presentation with their pitch that will have to be submitted by March 23. The judges will look at the clarity, language, attractiveness and passion used in each presentation.

Second, the judges will be looking at opportunity dealing with market identification, size and attractiveness and the target customer identification.

Lastly, they will be evaluating the quality of the contestant’s solution and financial viability.

The contestant coming in first place will receive a cash prize in the amount of $2,500 with second place receiving $750 and third taking home $350.

To participate in the Business Pitch Contest, contestants must register at www.tuskegee.edu/btwsummit/selma by March 20. Registration is free, or $15 for breakfast and lunch. The public is invited to attend the competition.