WELLINGTON – Oct. 219, 2021 – RDÉE Prince Edward Island has just launched a call to all those with good business ideas to participate in the 2022 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 Abram-Village Oct. 19, coordinator Julie 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.
“Entrepreneurs play an important role in our Island economy,” said Matthew MacKay, Minister of Economic Growth, Tourism and Culture. “Supporting Islanders to get into business, or expand their existing business is crucial as we continue to move forward. I am excited to see competitors pitch their best ideas.”
This contest represents the eighth entrepreneurial development competition of its kind organized by RDÉE PEI.
Overall, the 2022 edition will proceed as always, but organizers and participants will still have to comply with the restrictions related to the COVID-19 pandemic that will be in place on the dates of the different portions of the competition.
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.
The coordinator points out that the 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.
It should be noted that 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.
Gallant added that all competitors will be required to participate in two days of training Jan. 29-30. 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. On Feb. 12, 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 Wednesday, March2, 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 gifts, such as free memberships to chambers of commerce, as well as free business courses at the Collège de l’Île. 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/.
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 Gallant at firstname.lastname@example.org or 902-854-3439, ext. 227.
CUTLINE: Coordinator Julie Gallant, right, and RDÉE PEI executive director Bonnie Gallant have launched the contestant recruiting period for the 2022 Francophone Ignition Contest. All applications must be submitted by Jan. 3.
For more information:
Coordinator of the 2021 Francophone Ignition Contest
902-854-3439 ext. 227