DBIA’s Win This Space competition narrows it down to 10 startups

Ten local entrepreneurs have been chosen as the finalists in this year’s Win This Space competition.

Each year, the Downtown Business Improvement Area (DBIA) offers a year’s lease on a downtown space, with other prizes. The 10 finalists were chosen Tuesday at a meeting with judges and sponsors at Providence on Hunter Street W. and announced Tuesday.

The finalists will now take part in business workshops before the winner is announced March 5 at The Venue.

The winner receives the lease as well as office and computer supplies, marketing and financial services, advertising and promotion, with a total value of more than $40,000.

Judges and sponsors met Nov. 27 at Providence at 131 Hunter Street West to go through all the application videos submitted. Contestants were asked to submit a 1 to 3 minute video pitch which the judges would use to help select the finalists.

The 10 finalists will go through a series of workshops on building business plans, creating marketing plans and financial forecasting.

The winner will be announced March 5 at The Venue and will then choose which downtown space they would like to open in. The prize package includes not only a free lease to a downtown storefront for a year, but also thousands of dollars in donated prizes including office and computer supplies, marketing and financial services, and advertising and promotion. This year’s grand prize is valued at more than $40,000.

“Every year there are so many interesting submissions for some really innovative businesses,” states DBIA executive director Terry Guiel in a press release. ““It’s encouraging to see so much excitement from the next generation of entrepreneurs to open a business here in downtown Peterborough.”

The 10 finalists, who entered with YouTube pitch videos, are Mink Magic, Knook and Cranny, The Rabbit Hole, Cozy Home Designs by Lacey, The Food Shop, Statement House, Sustain, Sweat Happy Wellness, Moloko and Studio Pineo,