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Build Your Own Business Challenge
January 30, 2017
Haltech is proud to announce the Build Your Own Business (BYOB) Challenge, an exciting business plan and pitch competition for youth and students in the Halton region.
The BYOB race will provide aspiring young entrepreneurs and students the opportunity to:
- Earn CASH and In-Kind Prizes
- Compete against innovative entrepreneurs across the Halton Region
- Refine your business plan and receive valuable feedback from experienced entrepreneurs
- Pitch your business idea to a panel of experienced judges and potential investors
What are the prizes?
Over $10,000 in prizes will be awarded, including cash prizes totalling $4,000 and over $7500 of in-kind professional and consulting services from Fresh Insights Consulting as well as business innovation services from Haltech valued at more than $5000. More prizes will be revealed throughout the challenge.
Who is eligible?
- Currrently enrolled University and College students in Halton region above age 18 yrs. OR, young aspiring entrepreneurs between 18 and 35 years old residing in Halton region.
- Applicant must submit an idea for a business, and not already have an established business.
- Business idea must be technology-based or technology-enabled.
- Applicant must be a Canadian Citizen or Canadian Permanent Resident.
How to Apply?
- Submit a 10-page (maximum) Business Plan including a 1 page executive summary by email to [email protected] by January 30th, 2017 at 5 pm EST.
- You must use the Business Plan Template provided by Haltech – please download the template from our website at: BYOB Business Plan Template
- You must complete the applicant eligibility form and attach it along with your business plan submission.
- There is no fee to apply to this competition.
Criteria for building your business plan
- All business plans must be 10 pages or shorter, including a 1 page executive summary.
- Submit your business plan as a PDF document.
- Minimum 10-point size font, single spacing.
- You can download our business plan template at: BYOB Business Plan Template
Some additional guidelines regarding content include:
- Description of your business idea, the underlying technology and the value proposition of your idea.
- Market opportunity; some research about market segments, trends, barriers to commercialization, and related.
- Analysis of the competition, SWOT Analysis (Strengths/Weaknesses/Opportunities/Threats) and outline your competitive advantage.
- Sales and marketing plan.
- Financial data should include pertinent start-up costs and a 2-year income statement forecast.
- Appendices should be included only when they support the findings, statements and observations in the plan.
- You must submit BOTH your business plan and the application form by no later than January 30, 2017 at 5pm EST. Please note that incomplete or late submissions will not be eligible to compete.
- The top 5 finalists will be announced on February 6, 2017.
- Finalists will then be required to participate in the MaRS Pitch Preparation two-part workshops hosted by Haltech on February 1st and 8th; completion of the workshops will enable them to pitch in front of a live audience on February 23rd, 2017, at which time the winners will be announced.
- There will be a 1st place prize, a runner-up prize, and a crowd favorite prize.
Interested? Click on the links below to get started:
Download the flyer: BYOB Flyer
Application form: BYOB Application Form
Business Plan Template (optional): BYOB Business Plan Template
Have a question about the BYOB challenge? Email us at [email protected]
Other useful resources: Halton Region Small Business Centre