Applications Open From March 1st to April 1st, 2024
Eligibility:
- Age Requirement: Participants must be 19 years of age or older.
- Residency: Contestants must be Canadian Citizens or Permanent Residents.
- Location: The business must operate or be headquartered in Lambton County.
- Business Eligibility Criteria:
a. Business is open and has been in operation for less than 12 months (at the time of application); or
b. New Business that will be fully open and in operation by December 31, 2024; or
c. The Business was a part-time side-hustle that the owner wants to scale up into a full time, fully operational company - Operational Requirements: The business should either operate in a permanent location with a minimum 2-year lease or have identified startup/operating costs in the business plan that can be paid upon receipt of invoices.
- Employment: The business must generate a minimum of 1 Full-Time Equivalent (FTE) job.
- Commitment: Participants must attend four (4)mandatory in-person 90-minute information sessions supporting business plan development.
- Submissions: Participants must submit Business Plan and 30 to 60-second video by May 17, 2024.
- Finale: If chosen as a finalist, participants must attend the live finale event to pitch their business to the judging panel.
Ineligibility:
- Businesses not operating or headquartered in Lambton County are ineligible.
- Businesses that will have been in operation with at least 1 FTE for more than twelve (12) months when application is submitted.
- Businesses not operational by December 31, 2024, are ineligible.
- Exclusions: Franchises, not-for-profit organizations, registered charities, and multi-level marketing companies (e.g., Avon) are ineligible.
Prizes:
- Grand Prize:
(a)$10,000*
(b) 1-Year Membership for the Sarnia Lambton Chamber of Commerce ($420 value)
(c) $250 gift card from Manleys Basic Sarnia - 2nd Place: $3,500*
- 3rd Place: $1,500*
- People’s Choice Award: $1,000 (sponsored by Bluewater Power)
*Note: The awarded funds will be solely be allocated to the startup or operational expenses outlined explicitly in the Business Plan, with disbursement of prize winning upon presentation of corresponding invoices.
General:
- All participants must agree to the terms and conditions of participation.
- The decisions of the judges are final and binding.
- Participants retain ownership of their business ideas.
- The contest organizers reserve the right, at their sole discretion, to disqualify any participant not meeting the eligibility criteria or found to be in violation of the rules.
“The Pitch: Is Your Business Idea a Winner?” is designed to foster entrepreneurial growth within Lambton County, offering support, mentorship, and funding to promising ventures. These rules and regulations aim to ensure fairness, transparency, and a conducive environment for nurturing innovative ideas and driving entrepreneurial success within the community.
