These five will be one step closer to launching their own business.

Shreveport has been on the list for the best place to start a business several times. I've always felt that Shreveport is a big enough market to make a splash, but it's small enough to be a safety net if you don't quite reach those stars. That's why Louisiana Statup Prize is such a huge success in Shreveport-Bossier.

Each year, entrepreneurs pitch their ideas for Louisiana Startup Prize in hopes of achieving their dreams.

After a series of qualifying events, that are mandatory for Prize hopefuls, five entrepreneurs are chosen to compete for the grand prize. The qualifiers help guide the hopefuls in the right direction of launching a business. The winner receives over $70,000 in cash and services to make sure their business gets off the ground. In addition, the investor judges will have the opportunity to invest in the final projects.

On Wednesday, we will meet the final five competitors.

The announcement will be made at Rhino Coffee in Shreveport from 6-8 p.m. The winner of the prize will be announce during the FINAL Final which will take place August 19-21.