Business Plan Competition offers loans for starting businesses in Prince Edward or Lennox & Addington counties

Posted on October 18, 2010

Have A $150,000 Business Idea?

Unique business plan competition offers $150,000 interest-free loans for Queen’s teams starting businesses in Prince Edward or Lennox & Addington Counties

Queen’s School of Business (QSB) and Prince Edward/Lennox & Addington Community Futures Development Corporation (PELA CFDC) are teaming up to offer three teams of enterprising Queen’s students, faculty or staff the chance to start up and run their own business.

The 2010 QSB-PELA CFDC Business Plan Competition will be officially launched Wednesday October 20, 2010 with a reception in the BMO Financial Group Atrium, Goodes Hall, Queen’s School of Business. Students, faculty and staff at Queen’s have a unique opportunity to develop a new venture concept and pitch their ideas to a panel of business leaders, venture capitalists and academics. Judges will pick the top three teams and each will receive an interest-free, capitalization loan of $150,000 to implement their plan in Prince Edward County and/or Lennox and Addington County.

Funding for the competition comes from Canada’s Economic Action Plan. The goal is to attract young people to the rural communities of Prince Edward and Lennox & Addington Counties, and boost rural business development.

“Prince Edward and Lennox & Addington Counties both provide excellent opportunities for innovative entrepreneurs,” says PELA CFDC Executive Director, Craig Desjardins. “The 2010 QSB-PELA CFDC Business Plan Competition gives young people the boost they need to grow their ideas from concept into reality.”

“Queen’s students, faculty and staff have great entrepreneurial ideas,” says Dr. Yolande Chan, Director of The Monieson Centre at QSB. “I am confident the new knowledge that comes from the Business Plan Competition will go far in enhancing the economic and social fabric of the Prince Edward/Lennox & Addington region.”

Competition details, submission forms and regulations can be found at  The competition launch will be held Wednesday October 20, 2010 in the BMO Financial Group Atrium, Goodes Hall, Queen’s School of Business from 5:30 to 6:30pm. Local entrepreneurs will explain the benefits of doing business in the PELA region. The launch will also feature cuisine from the PELA region and prizes that include wine from popular Prince Edward County vineyards.

For more information, and to arrange interviews at the Competition launch, please contact:

Jeff Dixon, Assistant Director, The Monieson Centre

Queen’s School of Business, Queen’s University

Phone: 613.533.3271, Fax: 613.533.6363