Business owners aged 18 to 35 have until April 2 to enter the BDC Young Entrepreneur Award.
The Business Development Bank of Canada (BDC) is accepting applications for the 2013 edition of the award. To win a $100,000 grand prize, entrepreneurs in the specified age bracket are invited to present a turning point their company has reached and the solution they propose to take their business to the next level. A second prize, consisting of $25,000 in consulting services, will be awarded to the runner-up. The deadline for submitting applications is April 2 at noon Eastern Daylight Time.
“Showcasing and supporting Canada’s best business talent is an important aspect of our mandate,” says Michel Bergeron, senior vice-president, marketing and public affairs at BDC. “The BDC Young Entrepreneur Award is the premier venue to shine a spotlight on some of the challenges young business owners face today.”
The contest is open to all Canadian entrepreneurs aged 18 to 35 as of Dec. 31, 2012. Entrants must be Canadian citizens or permanent residents responsible for the daily management of a Canada-based business for at least two years as of Dec. 31, and must hold at least 20 per cent of the company’s capital stock.
Applicants are asked to create a short video describing a turning point their business has reached and the solution that will help them achieve future growth. The video – which need not be professionally produced – should clearly explain the turning point solution, have good image and sound quality, and be memorable. All entries have to describe a project that has yet to be implemented.
“All companies reach a turning point,” says Bergeron. “Some may choose to tap into new markets by implementing an internet strategy. Others may decide to acquire new equipment that will increase their overall profitability. Recognizing challenges early on and having a plan to tackle individual turning points is important for business and should rank high on an entrepreneur’s agenda.
“The value of participation goes beyond the monetary value of the award. The entire experience brings finalists tremendous exposure, public support, and access to people and resources that will ultimately help their companies grow. As impressive as the monetary awards may be, a better reason to compete is to get noticed by potential customers and investors.”
Applications must be submitted online at www.bdcyoungentrepreneuraward.ca. More information about eligibility criteria, the application process, rules and regulations, and the format of video submissions is available on the contest’s microsite.