Saskatchewan Business Challenge the new identity for P2C
REGINA — Even successful brands need to be refreshed occasionally, so after eight years, the Progress2Capital business planning competition has a new name and new logo.
The Saskatchewan Business Challenge (SkBC) is the new identity for P2C, which was started in 2006 by the Regina Regional Opportunities Commission (RROC) to give a boost to local start-up companies that typically fail in their first five years. In 2012, the Saskatoon Regional Economic Development Authority (SREDA) joined the competition, along with the newly formed Ministry of the Economy, which came in as a major sponsor of P2C.
“Now entering its ninth year in 2014, the competition has helped more than 400 aspiring entrepreneurs refine their business plans, access services from financial and business management experts, and receive one-on-one mentoring from successful businesses,” said John Lee, the new president and CEO of RROC, replacing former CEO Larry Hiles who stepped down earlier this month.
“THAT WAS A VERY SUCCESSFUL PROGRAM. THAT SHOWS THE KIND OF PARTNERSHIP WE’RE BUILDING.”
MEKA OKOCHI
Meka Okochi, vice-president of economic development for RROC, said changes in the P2C program in the last two years, especially its new partners, necessitated a new look for the business planning competition. For example, RROC, SREDA and the economy ministry joined forces with the Saskatchewan Young Professional and Entrepreneurs (SYPE) to host an awards night earlier this year to honour SYPE and P2C award winners.
“That was a very successful program. That shows the kind of partnership we’re building,’’ Okochi said.
Mayor Michael Fougere, who spent much of his career promoting economic development in Saskatchewan and other provinces, as well as Asia and Europe, noted that Regina and Saskatoon are expected to lead the nation in economic growth in 2013, with 5.0 and 5.2 per cent GDP growth respectively.
“P2C has been for a number of years the hallmark of entrepreneurship and innovation in our economy. But it grows and it changes and now we’re seeing a new change with our partnership with SREDA, making this a province-wide initiative,” Fougere said.
Chris Dekker, associate deputy minister of the Ministry of the Economy, said the ministry is pleased to be a sponsor of the Saskatchewan Business Challenge and “we want to add to the opportunity and the optimism in this province.’’
Brad Kraft, SREDA’s marketing and communications manager, said P2C has helped many Saskatchewan start-up companies become successful ventures, including Hillberg & Berk, Neechie Gear and Tatanka Boutique. Kraft said Saskatchewan Business Challenge will build on the P2C platform, which has four main components: a working business model, a viable business plan, a great pitch and networking opportunities.
Applications will be received from Jan. 15 to Feb. 15. The top 20 applicants will participate in the design weekend (March 2123), while the top 10 finalists will attend the entrepreneurs’ ‘boot camp’ (April 10-11), limo pitch (June 13) and award presentations (June 26).
The top 10 compete for over $50,000 in prizes, including the grand prize winner and three runners-up. For more information, visit saskbc.ca or call RROC at 306-751-8787 or SREDA at 306-664-0727.