LaunchPad $50K Venture Creation Competition is an annual venture creation competition hosted by several Southern Ontario universities. Over $50,000 worth of cash and services are available for the winning teams. There have been some changes to the competition this year, rather then a general contest for all types of ventures, three categories have been formed. There is a category for Social Entrepreneurship targeted towards businesses that focus on sustainable ways to address social problems. A Technology category has been created for businesses with a unique proprietary piece of technology. The final category, Industry Specific, is meant to cover all other goods and services businesses.
Teams must consist of students and community members from Cambridge, Guelph, Hamilton, Kitchener, and Waterloo. Businesses must have existed for less than 1 year and raised less then $25,000 in funding. Details for submitting an entry are available on the website, all entries must be submitted by April 3rd, 2009.