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The third annual Northwestern Ontario Business Plan Contest is well underway! This will allow student/teams to test their creative and analytical abilities while developing an idea for an original business venture with promising opportunities for the future.

The business plan contest is a three-tier competition

• Local/Regional Kenora Rainy River District (Minaki Yurts June 07, 2004)
• Regional Northern
• Provincial Ontario

Entrants will be rewarded with cash prizes, and educational experience, which can be applied towards future endeavors.

Objectives of the competition:

• The opportunity for students to showcase their business and entrepreneurial talents and at the same time, enhance their business skills through the development of a professional business plan.
• The creation of networking opportunities to facilitate contact between student-entrepreneurs, which will assist in developing our future entrepreneurs’ business, presentation, communication and networking skills.
• To ensure Northwestern Ontario is represented at the Regional and Provincial Competition.
• Receive guidance and feedback on their proposed ventures idea and gain an outside perspective on its viability.
• An opportunity to be recognized by peers/organizations within Northwestern Ontario

The game is a comprehensive business plan contest for Secondary school students, awarding up to $1,000 in cash to the winning business plan.

At the local level, the first place winner will receive a $1,000 cash award and will then be eligible to compete at the Northern Ontario Regional Business Plan Competition.

All students that have a viable idea for a summer business are also encouraged to submit their plan to the "Summer Company" competition. Chosen applicants are eligible to receive an award of up to $3,000 to start their own summer business.

Competition sponsors to date include; FedNor, Province of Ontario, The Northwest Business Centre, LOWBIC, PACE, Chukuni, Rainy River Develop. Corp., Nishnawbe Aski Development Fund.

Each CFDC will provide the $250.00 reward for their local catchments area. As well, each CFDC will be responsible to coordinate transportation for up to six students to participate at the regional contest on June 07, in Minaki.

Admission Requirements:

• The student/teams entering must be attending a high school or working towards the completion of their high school diploma within the Kenora-Rainy River District.
• Student will create their own business scenarios and ensure that all components of the business plan are completed.
• Students must create a start-up business (not "existing" or "franchise").
• Only completed business plans will be eligible for admission. A comprehensive business plan must address key topics to be considered complete. (Refer to judging criteria.)
• Business Plans Competitors may also participate in the Summer Company Program; however, all Summer Company criteria must be met… refer to: http://www.ontariocanada.com/ontcan/en/youth/ye_summer-company.jsp
• Students do not have to be taking an entrepreneurial course to enter the Business Plan Competition 2004.
• Students may work in groups of up to four.
• Professionals within the business community will judge business plans accordingly.
• Contest Deadline is May 10, 2004 @ 4:00 p.m.. Business plans must be submitted no later than the deadline to your School Office, local Community Futures Development Corp., or the Northwest Business Centre.
• Business Plans will not be returned; they will be kept in strict confidence to protect entrants and their ideas.
• Organizers have the right to cancel the contest if interest rate is low.

• At the sole discretion of the Northwestern Ontario Business Plan Contest, organizers have the right to disqualify without recourse any entry that is deemed illegal, immoral, unethical, or in any way in violation to the contest rules.

• The organizers reserve the right to alter procedures, dates, rewards and regulations.