New Earth Fungi, owned by Alannah Johnson, is a small Gourmet and Medicinal Mushroom Farm located in Juneau, Alaska. The business was one of the 2022 winners of Path to Prosperity. Their products include locally cultivated mushrooms that are offered fresh, dried, or in medicinal tonics. (Photo courtesy of Spruce Root)

The Southeast Alaska business competition, Path to Prosperity, is changing. It’s getting a new name and will shift the way it brings entrepreneurial training to participants.

Path to Prosperity has been run by the nonprofit organization Spruce Root, which promotes economic development in the region.

Over the past decade, the competition has awarded $660,000 to 21 startup businesses all over Southeast Alaska.

While most of the program model will remain the same, part of the training will change, as will the cash awards at the end. Instead of two entrepreneurs winning $25,000, the organization will offer three business owners $20,000 grants.

The new name of the competition is “Business and Balance.”

Izzy Haywood manages the program for Spruce Root. She spoke with CoastAlaska’s Angela Denning about changes. She says training will expand from a three-day intensive boot camp into a nine-week virtual course offered twice a year.

Registration for the fall session will open in August.