Meet the winners of the North Slope Marketplace competition
Ronette Panningona, Floreen Stone and Sophia Segevan, this year’s winners of the North Slope Marketplace Competition (Photo courtesy of Alaska Growth Capital)
In October, Alaska Growth Capital announced three winners of its 2019 North Slope Marketplace business plan competition: Ronette Panningona, Floreen Stone and Sophia Segevan, all of whom are Iñupiat entrepreneurs. The women were awarded between $10,000 and $25,000 each in startup capital and an additional $4,500 for technical training.
Segevan has lived In Wainwright her whole life. She heard about the competition from her sister, Tommi Ahmaogak, who won in 2013 for her own venture, Tom-N-Jerry’s Restaurant.
Segevan will be using the funding to open Soph’s Coffee, the first coffee shop in Wainwright. As a community health aid for 10 years, Segevan has always had a special place in her heart for her favorite caffeinated beverage. Over the years, her husband would gift her coffee machines and her coffee-making skills improved. Eventually, friends and family got hooked on her coffee and would purchase supplies for her to make them drinks.
“They started all pitching in buying syrups, coffee beans, cups and things to keep making them coffee, so I didn't really have to buy any of it,” Segevan said in an email. “That’s how it all got started, just experimenting and making coffee for my family and close friends. I kept being told my coffee is good and that they’d line up to buy it.”
Initially, the experience of going through the boot camp was intense for Segevan, but once the jitters went away, she felt like she belonged.
“They all made you feel welcomed, and helped to explain things at our level,” Segevan said. “It didn’t make you feel like you are in the wrong place or that it was too hard, they broke down the steps into learning all of this coming from someone who lives in a small village and who has a bit of fear taking on such a huge step like this.”
Segevan says the shop likely won’t be open until January, but she can’t wait to see her regulars.
“One thing I always missed when I quit working as a health aide was working for our people and seeing them,” Segevan said. “Once my coffee shop opens, I’ll be able to see all the faces again and see how they’re doing… To be your own boss and do something you love doing, is soon to become a reality of mine — a dream come true.”
Ronette Panningona of Utqiaġvik is another winner of the competition; she wants to grow her beaded accessories business.
Panningona learned how to bead in her teenage years; she heard about the competition through her cousin. She was initially hesitant but decided to apply.
“The NSM competition was an experience of a lifetime!” Panningona said in an email. “The boot camp gave a TON of information in a short amount of time. They made sure to ask what we liked best, and what we didn't like. As we were the first group to go through the boot camp, they asked what we suggested to make it better, smoother for the next go around.”
After receiving the call that she was one of the winners Panningona said it was a surreal moment.
“I almost cried, I thanked God,” she said. “I felt like yelling and dancing but didn't want to scare my co-workers. I let my supervisor know right away, she was one of the ones that did a reference letter for me. That was one of the best days of my life.”
Panningona says she is going to use the funds to purchase supplies and equipment for Arctic Rose Beading.
A pair of earrings by Ronette Panningona of Arctic Rose Beading (Photo courtesy of Arctic Rose Beading).
“The most rewarding part of this process, coming to the end and being able to tell my daughter that I went after a dream I had and succeeded,” Panningona said. “That I stepped out of my comfort zone and won. I gained so much information, and a bunch of people to talk to when I need help.”
Panningona encourages those who are an ASRC shareholder and interested in starting their own business to enter the competition.
“There are opportunities out there for us, you just need to apply yourself and step out of your comfort zone,” Panningona said.
Floreen Stone was the third winner of the competition for her business, Parky Shop, located in Point Hope. She wants to make and sell traditional Iñupiat clothing.
Since 2009, Alaska Growth Capital has awarded over $1 million to over 45 North Slope businesses through the program.