Quebec Entrepreneurship Contest is Set to Give Away $600,000 in Prizes

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Applications are now open for the Quebec Entrepreneurship Contest, a huge province-wide contest that will end up giving over $600,000 in prizes to Quebec-based entrepreneurs.

First, the “Successful Business Inc. Prize,” will award $195,000 in prizes to entrepreneurs. It’s the 16th edition of the contest, and will award $10,000 prizes in each of Québec’s 17 regions and a prize of $25 000 at the provincial level for the grand prize winner, selected from among the regional winners.

“The new Successful Business Inc. Prize showcases Québec businesses, which are the driving force behind the province’s economic development and wealth,” said Manon Théberge, President-Director General of the Contest. “In addition to highlighting the success of these businesses, Successful Business Inc. presents inspiring models to follow.”

The only catch with the Successful Business Inc. Prize is that only those entrepreneurs or teams that participated in any of the first 10 editions of the Québec Entrepreneurship Contest (from the first edition, in 1998-1999, to the 10th edition, in 2007-2008) can apply. Participating businesses have until March 17, 2014, at 4 p.m. to submit their applications. The winner of the “Successful Business Inc. Prize,” will be announced at the 16th Desjardins Grand Prize Gala on June 18, 2014, in Québec City.

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Beyond that there’s much more that the Quebec Entrepreneurship Contest has to offer. Its general “Business Creation” contest award prizes to businesses in a number of categories, including:

Bio-Food: Businesses that catch, produce, process or capitalize on direct or indirect food products intended for human consumption

Business Operation, Processing, Production: Businesses whose revenues stem mostly from sales to retailers, wholesalers and industries and that exploit natural resources or that process or produce semifinished or finished products

Commerce: Businesses whose revenues stem mostly from marketing products sold wholesale, retail or directly to consumers.

Services to Individuals: Businesses that provide services to the public, including businesses involved in restaurant or lodging activities.

Services to Companies: Businesses that provide services to other businesses or organizations.

Social Economy: nonprofit organizations and cooperatives

Technological or Technical Innovation: Businesses that create new products, processes or applications based on new or existing knowledge.

Any adult or group of adults 18 years of age or over residing in Québec and holding Canadian citizenship (or permanent resident status) is eligible for the Business Creation division of the Québec Entrepreneurship Contest.

The contest is also giving away some healthy prizes for these seven categories, listed below:

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Finally there’s also the “Business Transition Prize,” which targets those people who have played major roles in taking over a company and turning it around. Officially, the criteria for applying is one of two conditions:

  • Any existing business that has changed majority owners (50% + 1) without interrupting its operations in the period from January 1, 2013, to March 17, 2014 is eligible.
  • Any inactive business that has resumed its operations owing to the efforts of one or more new majority owners (50% + 1) in the period from January 1, 2013, to March 17, 2014 is eligible.

At the provincial level, a prize of $5 000 will be awarded to a winning project among the 17 regional winners, thanks to the financial contribution of Desjardins.

The Business Transition Prize is offered also thanks to the financial contribution of the ministère des Finances et de l’Économie.

Joseph Czikk

Joseph Czikk

Joseph Czikk is Managing Editor at Betakit. Prior to Betakit Joseph wrote for the National Post, Montreal Gazette, Vancouver Sun, Regina Leader Post, Techvibes and BC Business Online. Joseph often goes crazy on twitter during NHL and NFL games.