Announcing TiEQuest Business Venture Competition 2009

TiEQuest is an annual business venture competition held in Toronto. It is organized by TiE Toronto and was started in 2005. Now with over $150,000 in prizes and an opportunity to win $1 million of investment from sponsoring funds for TiEQuest 2009, this is probably the biggest such contest in Canada. What sets it apart is that it looks for pragmatic business ventures, as opposed to being a business plan contest only.

TiEQuest 2009 will provide contestants an opportunity to present to well-known angel investors, venture capitalists and fund managers. In addition, the contest will also provide entrepreneurs with various tools to help them in developing a promising business venture with various mentoring workshops and presentations on preparing elevator pitches, business plans, etc.

Winner of TiEQuest 2009 will receive the “Ontario Entrepreneurship Trophy” from the Ministry of Small Business and Consumer Services of Ontario. Apart from the cash prizes and the “Expression of Interest” of upto a $1 million investment from sponsoring venture capital and private equity funds, various in-kind services from business, legal and financial firms will be awarded to the winners as well. Past winners have also gone on to receive additional funding from various sources. In addition, a “New Entrepreneur Prize” of $5000 will be given to the best student team.

The prizes, recognition, experience and the sheer networking opportunity on offer through this contest is an amazing chance for budding entrepreneurs, especially in Ontario, to propel their ideas and ventures to the next stage (the contest is open to participants across North America though). There is a $100 team entry fee to participate, which also gives participants two 1 yr memberships in TiE Toronto. A project profile would be due in Feb, while the elevator pitch, written business plan and presentation rounds would be in March, with the winners being announced in April. Visit www.tiequest.org for additional information on the competition, contest rules, stages and requirements.

The deadline to submit the entry form is Jan 30th, 2009 (register here).