Telus and the Globe & Mail are running a contest called The Challenge. Small and medium sized Canadian businesses can enter the contest by filling out a short one page form on the Globe & Mail’s website. The contest asks that you describe your business challenge, how $100,000 will help you overcome it, and what results you think you will achieve once you overcome your challenge. The winner will be chosen by a panel of expert judges. The winner will get a $100,000 business grant from Telus and the business will be profiled in Report on Business. The prize will paid in two parts, with the second $50,000 being paid after a report is given on how the first $50,000 was spent. The money must be spent as described in the contest application. The judging criteria is as follows:
- 20% for the description of the challenge
- 60% for the proposed solution
- 20% for the anticipated results.
The contest entry form is limited to 200 words for each criteria so the application process couldn’t be simpler. The contest is open to Canadian businesses outside Quebec that have less than 150 employees. Entries are limited to one per business. Given the large number of eligible applicants and the amount of prize money involved, competition will be stiff. I recommend that you work on crafting a compelling narrative before entering the contest. The contest closes on July 6, 2011.