Budding entrepreneurs step into a Dragon’s Den
The winners were announced this week for the 2011 Dragons’ Den Edition of the Young Entrepreneur Program which was held May 30 at the Coast Capri Hotel.
The young entrepreneur program, now in its 17th year, is for students in Grades 7 to 12 and is a joint initiative between the Central Okanagan Economic Development Commission, School District 23 Career Life Programs and Okanagan College School of Business.
Beelineweb.com was the platinum sponsor of the awards luncheon.
With the Central Okanagan having one of the highest rates of entrepreneurship in Canada, the aim of the program is to provide youth in our community with hands-on learning experiences and create excitement towards the topic of entrepreneurship.
Students entered in teams of one to five with 58 teams signing up to compete.
As in previous years, students had to complete three tasks to show the judges the feasibility of their business idea:
Task #1: create their product or service
Task #2: create and develop a marketing and promotion plan
Task #3: complete a financial plan which includes costing, pricing, sales forecasting, profit projections and concepts
Students began to work hard on their business ideas back in February. Teams were judged throughout the competition by business professionals (the “Dragons”) from many areas of the community.
Out of the 58 teams that started in the competition, 44 teams were eliminated following the judging of Task #1 and Task #2.
Fourteen student teams competed in the third and final task of the Dragons’ Den Competition and were invited to the awards luncheon as finalists.
The first-place winners from Kelowna, Penticton and Vernon will move on to the regional competition at the Okanagan College campus in Kelowna.
A prize of $1,800 was awarded to the winning secondary school team, with a $750 prize going to the team that comes in second place.
The middle school winning team took home $750 and the second place team won a prize of $250.
Third place team winners in both categories received bronze medals. All finalists received a gift bag containing items donated by sponsors from the business community.
2011 award winners
Secondary School First Place Winner: TWINN Designs from Okanagan Mission Secondary; Andrew Dibiase, Jonah Janko, Curyn Procter and Cory Janko; product—unique graphic T-shirts and bamboo clothing.
Secondary School Second Place Winner: Tournament Pro from Kelowna Secondary School; Terry Lee and Aaron Gubeli; product—tournament software that allows amateur sports tournaments to have access to real time scores, brackets and league information.
Secondary School Third Place Winner: Triple R Tramp Bikes from Okanagan Mission Secondary; Trevor Tuck, Dylan Decker, Colton Cheney, Shelby Miller and Marcel Nystrom; product— modified bike that is made for the trampoline.
Middle School First Place Winner: Delight in Every Bite from Constable Neil Bruce Middle School; Baylie Beselt, Emma Tucker and Kennedy Fletcher; product—Designer Cupcake Parties.
Middle School Second Place Winner: Jelly Pillows from KLO Middle School; Anika Hodgson and Meagan Arcari; product—pillow cases with a pocket for hot and cold packs
Middle School Third Place Winner: ReLeaf Masks from Springvalley Middle School; Megan Roeske, Megan Vanderburg; product—cotton and peppermint eye mask to soothe migraines and headaches
Innovation awards were provided to the team that showed the most creativity and innovation in the development of their business idea.
Secondary School Innovation Award of $500, sponsored by School District 23 Career Life Programs, was awarded to the Triple R Tramp Bikes project team from Okanagan Mission Secondary.
The Secondary School Innovation Award of $250, sponsored by Okanagan College School of Business, went to the Rent Network from Kelowna Senior Secondary.
The duo of Daniel Schaefer and Davis Froese developed an online market place designed to connect owners of goods and services across the Okanagan Valley to potential customers wishing to acquire items for rent.
Middle School Innovation Award winner of $250, sponsored by Log Barn 1912, was EMRAD from Constable Neil Bruce Middle School.
The team members were Emma Andreen, Rachael Dunlop and Rachel Dunn. The trio developed a bra-kit, a pouch that attaches to a bra to hold money, etc.
Trade show awards were provided to the teams with the best display and promotion of their product or service.
The Secondary School Trade Show Award winner of $250, sponsored by Doak Sherriff LLP, was the OKM TWINN Designs team.
The Middle School Trade Show Award winner of $250, sponsored by Kalala Organic Winery, was Dogs ‘n Treats from Constable Neil Bruce Middle School.
The team members were Cheyenne Nelson and Alexis Botbijl, who created a healthy dog treats product.
Other contest sponsors included FortisBC , Women’s Enterprise Centre and Community Futures of the Central Okanagan.