Students prepare to enter Junior Dragons’ Den

Junior Dragons' Den is now accepting applications for this year's event.

Junior Dragons’ Den is returning to the West Kootenays.

Put on by Community Futures Development Corporation since 2014, the competition is for youth from Grade 8 to post-secondary school and is based on the popular CBC show, Dragons’ Den.

Asked what the idea behind the competition was, John Reed, junior initiatives coordinator for Community Futures of Greater Trail, said, “To create an opportunity for students to be creative, inventive, learn leadership skills. We’re big advocates of financial literacy, so it’s a really nice, fun challenging way for students to either create a business or to expand an existing business, if they have one.”

Youth submit applications pitching a business idea or a business improvement idea. Short listed applicants five from each category, including Junior (Grades 8-10), Senior (Grades 11-12) and College/University/Trades are then assigned a mentor from the local business community who will help them refine their business concept and turn it into a one-page business plan with financial statements. Those who make it this far will also have to create a video elevator pitch.

Students will only have so long to prepare, because they’ll have to present their business plans at a regional competition in Trail on Thursday, April 21, in front of a live audience and a panel of local business leaders.

The first, second and third place winners from each age category will be rewarded cash prizes and awards to go toward the start-up costs of their business, or to expand their existing business.

“The cash prizing portion needs to go toward business start-up and/or expansion, and it can also go toward continuing education or tuition,” says Reed.

Winners of the regional competition will then advance to the Junior Dragons’ Den Championship 2016, also in Trail on Saturday, April 30, where they’ll face the winners from the other two regions.

Past winners include Eric Gonzalez, who has a video company, and Jordan Strobel, who runs Ebon Supply Company.

Reed says they anticipate receiving over 200 entries from the West Kootenay Boundary region alone this year. So far three students from Rossland, ten students from Nelson, over 60 students from Castlegar, and over 80 students from Trail are expected to apply.

Interested students can apply at juniordragonsden.com; the deadline has been extended to Tuesday, March 1.

 

Just Posted

Paramedics union raises alarm over spike in out-of-service ambulances

Staffing shortages affecting service levels in Kootenays

RED resort announces new ski lift

Topping lift will add new ski area to resort, reduce bottleneck on Motherload chair

Update: Bodies recovered from Pend d’Oreille River crash

To help support the family, a fundraiser has been set up at Kootenay Savings in Fruitvale

Split council vote changes Castlegar infrastructure levy from five to seven years

Major industry will be seeing a tax increase over the next seven years as well.

South Okanagan-Kootenay MP calls federal budget ‘not bold enough’

Richard Cannings, MP for South OK and Kootenay communities says budget missed the mark

After mosque attacks, New Zealand bans ‘military-style’ guns

The gunman killed 50 in a Christchurch mosque

Okanagan man, Yorkshire terrier chased by coyote

Animal sightings have been reported around West Kelowna and the Central Okanagan

Having phone within sight while driving does not violate law: B.C. judge

The mere presence of a cell phone within sight of a driver is not enough for a conviction, judge says

B.C. lottery winner being sued by Surrey co-workers

They claim he owes them $200,000 each, in a lawsuit filed in B.C. Supreme Court in Vancouver

Pot industry welcomes decreased edibles tax, but unhappy medical tax remains

Taxes can increase the cost of medical cannabis by as much as 25 per ceny

‘It has to send a message:’ Broncos families await sentencing for truck driver

Jaskirat Singh Sidhu pleaded guilty to 29 counts of dangerous driving and apologized in court

MPs continue voting marathon as Tories protest shutdown of Wilson-Raybould motion

Multiple MPs have resigned from Trudeau’s Liberal cabinet

Canucks hang on for 7-4 win over Senators

Horvat nets 2 for Vancouver

European, Canadian regulators to do own review of Boeing jet

Air Canada plans to remove the Boeing 737 Max from its schedule at least through July 1

Most Read