Start-up Funding Competition: The 2014 BDC Young Entrepreneur Award
The Business Development Bank of Canada (BDC) is offering young entrepreneurs a chance to claim up to $100,000 in start-up funding through their annual Young Entrepreneur Competition.
BDC Canada Funding for Start-ups Competition Details
BDC’s annual start-up funding competition is again setting aside $25,000 and $100,000 for Canadian small businesses owned by youth that plan to implement an innovative solution to propel their businesses to the next stage of growth.
Reasons to Apply for BDC’s 2014 Young Entrepreneur Award
Like any other substantial start-up funding award for youth, it’s hard to look past the monetary benefit offered to prospective award winners, but there are additional reasons for applying for to such an award. Simply applying for a well-established award such as this helps to put your business’ growth goals into perspective.
“Even the application process has great value as it provides an opportunity to reflect on your past successes and look for new opportunities for future growth.” -2013 Finalists Kimberly and Timothy Stokdijk, Stokdijk Greenhouses, Ltd.
In addition, virtually each of last year’s finalists boasted of how becoming a finalist resulted in not only positive exposure from within their community and throughout their province, but also opened doors to countless opportunities to network and build important new relationships.
BDC Young Entrepreneur Award Start-up Funding Competition -Eligibility
The BDC Young Entrepreneur Award contest is open to applicants and businesses that meet all the following requirements as of December 31, 2013:
Applicants to BDC Young Entrepreneur Award Must:
- Be between 18 & 35 years of age,
- Be Canadian citizens or permanent residents,
- Have been responsible for the company’s day to day operations for a minimum of 2 years,
- Hold a minimum of 20% of the company’s capital stock
- Be registered in Canada,
- Have its head office located in Canada,
- The business must be solvent
- Carry out viable commercial economic activities in Canada,
- Show that government support and private donations do not exceed 40% of their income
Businesses Eligible for the BDC Young Entrepreneur Award Start-up Funding Competition:
Not-for-profit businesses Eligible for this Start-up Funding Award Must:
- Be registered in Canada,
- Have its head office located in Canada,
- The business must be solvent
- Carry out viable commercial economic activities in Canada,
- Show that government support and private donations do not exceed 40% of their income
Not-for-profit businesses Eligible for this Start-up Funding Award Must:
- Carry out viable commercial economic activities in Canada,
- Show that government support and private donations do not exceed 40% of their income
Both clients and non-clients of BDC are eligible.
Apply for Start-up Funding through BDC’s 2014 Young Entrepreneur Award
The application process entails filling out an application form and creating a video pitch. Visit BDC’s Young Entrepreneur Award Website to get started.