The Greater Charlottetown Area Chamber of Commerce (GCACC) has launched a Student Entrepreneurship Award as part of its efforts to encourage and support entrepreneurship in Prince Edward Island. The future of the Island economy depends on the success of our dedicated entrepreneurs who launch businesses, deliver economic growth and ensure the vitality of our communities. This award is sponsored by Air Canada and was developed to inspire Island students to follow entrepreneurship as a career path.
The award reflects the GCACC’s commitment to spark economic growth in P.E.I. by promoting and supporting entrepreneurship. In line with this commitment, the Entrepreneurship Award winner will receive a $1000 cash prize, a one-year complimentary membership with the Greater Charlottetown Area Chamber of Commerce and mentorship sessions from a member of the business community.
Deadline for Application: February 24, 2017
Who is Eligible?
To be eligible for the award, students and their businesses must meet the following criteria:
- Must be a post-secondary student residing on PEI during the current academic year (open to all levels of post-secondary study).
- Must be the owner, founder or controlling shareholder of the company and principally responsible for its operation with no other individual or group with greater ownership.
- Must have operated the company in Prince Edward Island for at least the past six consecutive months.
- Be operating in Prince Edward Island and continue to do so at the time of the award presentation
- Must not have anyone within their management or on their board or in their employ serving on the GCACC Board of Directors.
The Student Entrepreneur Award prize consists of the following:
- $1000 cash prize to be used toward their business operations.
- Two complimentary tickets to the President’s Annual Luncheon for the award presentation.
- Complimentary one-year membership for the Greater Charlottetown Area Chamber of Commerce.
- Mentorship services from a member of the business community.
- Recognition and media exposure for the student and their business.
Below is the outline for the judging criteria for the award. Applications will be evaluated against this criteria:
|Evaluate the Entrepreneur||Weight|
|1.||Has she/he encountered challenges, overcome them, and learned from mistakes?||/10|
|2.||Is the student effectively integrating the two roles of life – as a student AND a business owner.||/10|
|3.||Is the student taking smart risks and evolving to meet changing circumstances?||/10|
|4.||Is the student seeking out expert advice and wisdom, and proactively growing their own knowledge?||/10|
|5.||Is the student innovating, planning for the future and distinguishing him/herself from the field?||/10|
|Evaluate the Business|
|1.||Has the student demonstrated knowledge of strong business fundamentals and show that they are in practice in the business? Has he/she provided information related to the growth, revenue and profit of the business?||/20|
|2.||Has the student effectively communicated the business and its vision?||/15|
|3.||Does the business show strong potential for future growth?||/15|
Award Application Process
February 24, 2017 – Applicants must complete and submit the online application by the application deadline.
- The application requires two references who may be contacted by the judging panel:
- One reference from your post-secondary institution
- One reference who is a business associate but not an employee/owner/or shareholder in your company.
- March 2017 – Applicants who meet the criteria will be granted an interview with the judging panel. Interviews will be used to further evaluate the applicant and their business against the award criteria.
- April 2017 –Student Entrepreneur Award recipient will be announced.
- May 2017– Student Entrepreneur Award presented to the recipient at the 2017 President’s Annual Luncheon.
Please note: The GCACC Student Entrepreneur Award Judging Panel will be asked to treat all applications with complete confidentiality.