VIU MBA students (l-r) Sue Ou, Utkarsh Garg and Jane Akujuru are just three of the thousands of students and alumni from VIU who might benefit from entering the VIU Business Plan Competition with a great business idea. Cash and a business services package for winners, and expert advice from mentors for entrants are some of the competition perks.
September 23, 2015 - 4:00am
If you’re a Vancouver Island University (VIU) student or alumni, and you have a great idea for a new business, you could enter to win a share in $10,000 in cash prizes and $7,000 in business services up for grabs in the 2015 VIU Business Plan Competition.
“We know there’s a strong entrepreneurial spirit in our community, and among VIU students and alumni who have great ideas for businesses,” says John Predyk, professor in VIU’s Faculty of Management and chair of the 2015 competition. “We encourage all students from all faculties at VIU, and alumni from any year to consider developing a business idea to enter in the competition.”
VIU has partnered with lead sponsor the Pieter de Reuver Foundation, StartUp Nanaimo, the Nanaimo Economic Development Corporation (NEDC), Young Professionals of Nanaimo, and Coastal Community Credit Union, along with a growing list of regional business partners offering business services as part of the prize package.
“Our students and alumni entering the competition also benefit from the guidance of experienced business professionals who have offered their mentorship through the entry process,” says Predyk, adding entrants can gain valuable skills in strategic planning, project management, critical thinking, professional presentations, and community engagement.
The second annual VIU Business Plan Competition is seeking entries from currently enrolled VIU students or alumni of VIU who have successfully completed at least 16 credits. Business ideas must be pre-revenue ventures, or operating less than one year from the first sale. Ideas from all sectors, from hospitality to technology, to tourism and social enterprise are welcome. Entrants can enter individually or in teams.
Interested students and alumni can learn more about the competition by visiting the VIU Open House on Friday, Oct. 2 from 10 am to 3 pm. The Faculty of Management and the VIU Business Plan Competition will have staff on hand to answer questions at a booth in the VIU Expo, located in the upper cafeteria (Building 300). A representative from last year’s winner, start-up business ReWild Homes, will also be in attendance.
The competition deadline for submission of business plans is Nov. 16. Entrants will be shortlisted by a panel of judges that includes VIU faculty, professional coaches and business mentors. Those selected will advance to the ‘Dragon’s Den-style Pitchfest’ at VIU on Dec. 4. Winners will be announced that evening, with prizes awarded to student and alumni category winners in the following categories: first place, $2,500; second place $1,000; third place, $500.
In addition to their $2,500 cash prize, one grand prize winner chosen that evening will also win a prize package of business services valued at $7,000. This prize includes graphic design and web design service, a City of Nanaimo business license, a banking package from Coastal Community Credit Union, desk and meeting space at SquareOne, business consultations, and memberships in Young Professionals of Nanaimo and the Nanaimo and District Chamber of Commerce, among several other services.
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