BDC extends 2012 Young Entrepreneur Award deadline and increases total prize value to $125,000

MONTREAL, April 4, 2012 /CNW Telbec/ - The Business Development Bank of Canada (BDC) announced today that it has extended the deadline to enter the 2012 BDC Young Entrepreneur Award contest and added a new prize valued at $25,000.

Young entrepreneurs now have until May 6, 2012, to apply for a chance to win the BDC Grand Prize for Innovation: $100,000 to implement a new innovation project aimed at driving business growth. The BDC Young Entrepreneur Award runner-up will receive a $25,000 customized Internet strategy from BDC Consulting, designed to help the beneficiary increase sales and stand out in a competitive world.

"We have extended the contest deadline to give all innovative young business owners more time to seize this great opportunity," says Michel Bergeron, Senior Vice President, Marketing and Public Affairs at BDC.

The 2012 BDC Young Entrepreneur Award invites entrants to explain an innovative idea for a new project via a short, easy-to-produce video and a four-step application form. "Our panels of judges will not base their decisions on the quality of the video, but on the quality of the innovation project. The video is simply the medium through which entrepreneurs are being asked to convey their message. The actual details of the innovation project are submitted via the confidential entry form," adds Bergeron.

The contest is open to all Canadian entrepreneurs aged 18 to 35 as of December 31, 2011. Applicants must be Canadian citizens or permanent residents and run a Canadian-based business that is in good financial health. They must have been responsible for their company's day-to-day management for at least two years as of December 31, 2011, and must hold at least 20% of the company's capital stock.

"The application process is straight-forward, does not require a significant time commitment and can pay off big: $100,000 to bring your new innovation project to life and take your company to the next level," concludes Bergeron. "We invite all Canada's young business owners to enter the BDC Young Entrepreneur Award contest."

Full information about how to enter the 2012 BDC Young Entrepreneur Award, including the application form, tips on preparing the video entry and contest rules and regulations, is available at www.bdcyoungentrepreneuraward.ca. Contest entries can be submitted until 11:59:59 pm on May 6, 2012.

Provincial selection committees will then choose the best innovation projects— one for each province and one for the combined territories. The 11 finalists will be announced on May 30, 2012, when the general public will be invited to start voting for the 2012 BDC Grand Prize for Innovation winner and runner-up on the contest's dedicated microsite and Facebook page, BDC Entrepreneur. The voting period ends on June 19, 2012 and frequent progress updates will be posted on Facebook, Twitter at @BDC_News and LinkedIn.

If a potential finalist for a province or for the combined territories cannot be reached by phone or email, or fails to return financial statements and communicate with BDC within a specified time, he or she will forfeit the opportunity to become a finalist for the 2012 BDC Grand Prize for Innovation. In such an event, the entrepreneur whose application and video received the second-highest score from the selection committee will become the alternate potential finalist.

About the BDC Young Entrepreneur Award contest


Created by the Business Development Bank of Canada in 1988, the BDC Young Entrepreneur Award contest pays tribute to successful Canadian entrepreneurs between 18 and 35 years of age. For the first time in 2012, the contest will see 11 finalists competing for the BDC Grand Prize for Innovation which will award $100,000 to one young Canadian entrepreneur to carry out a specific innovation project. The Financial Post is the exclusive media partner of the BDC 2012 Young Entrepreneur Award. The contest is sponsored by Les Affaires. 

About BDC

Canada's business development bank, BDC, puts entrepreneurs first. With almost 1,900 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital and consulting services to 29,000 small and medium-sized companies. Their success is vital to Canada's economic prosperity.

For further information:

Maria Constantinescu
Advisor, Public Relations
BDC
[phone]
[e-mail]