SUMMERSIDE – Oct. 24, 2022 - RDÉE Prince Edward Island has just launched a call to all those with good business ideas to participate in the 2023 edition of its Francophone Ignition Contest, which is similar in style to the TV shows "Shark Tank" and "Dragons' Den".
During the Entrepreneurs’ and Co-operators’ Morning Conference in Summerside Oct. 18, RDÉE PEI executive director Bonnie Gallant revealed that at the end of the contest, next March, $25,000 will be invested in the project with the greatest potential for entrepreneurial success. This amount will come from Innovation PEI’s Ignition Startup Fund.
This contest represents the nine entrepreneurial development competition of its kind organized by RDÉE PEI, the fifth under the Ignition banner.
THE CONTEST
The Francophone Ignition Contest is intended for Francophone or bilingual entrepreneurs (current or potential) who want to set up a new business, launch a new product or service, or expand an existing business by introducing a new production line.
Applying businesses must offer services in both official languages and must be established in Prince Edward Island. At least one of the owners of the company must be able to do business in French and make their pre-selection and final presentations in French. The product or service developed must have the potential of being exported outside the Island.
Companies that have already received an amount from RDÉE PEI’s Ignition Contest and former Dragons’ Contest or from the province’s Ignition Startup Fund or Food Excel – Food Island Partnership are not eligible for the competition.
All competitors will be required to participate in two days of training in late January. Trainers will help them prepare to pitch their entrepreneurial project in a concise and convincing manner, while focusing on finances. The Collège de l’Île will also provide them with Insights Discovery training on self-knowledge and communication styles. In mid-February, contestants will have the chance to pitch their project to a provincial pre-selection panel of judges; they will choose the three best projects.
These three finalists will then participate in the grand finale on the evening of March 2, in front of the public at the Village musical acadien in Abram-Village. Each will have seven minutes to pitch their project idea to a panel of professional judges (using product samples, on-screen images and verbal explanations). After asking several questions, the judges will deliberate and decide to invest the $25,000 in the project they feel has the greatest potential for success.
In addition to the cash investment, the entrepreneur with the best project will also receive several useful gifts. The project will receive great media publicity.
One can learn more about the contest by watching a short video posted on RDÉE PEI's contest web page at www.rdeeipe.net/ignition/.
TO PARTICIPATE
Those interested in participating must download the application form from www.rdeeipe.net/ignition/, complete it in full and submit it no later than Jan. 3, 2022.
"We very much appreciate the fact that, again this year, Innovation PEI is providing us with a contribution from its Ignition Startup Fund to present at the finals of our contest," added the coordinator. "We also thank the Atlantic Canada Opportunities Agency for its assistance with the costs of coordinating the competition.”
Requests for additional information can be directed to coordinator Alecia Arsenault at ignition@rdeeipe.org or 902-432-2026.
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CUTLINE: RDÉE PEI executive director Bonnie Gallant and entrepreneurial development officer Robert Maddix have launched the contestant recruiting period for the 2023 Francophone Ignition Contest. All applications must be submitted by Jan. 3.