Research on developing this competition began several years ago when Monica Kreuger, President of Global Infobrokers Inc. and then sessional lecturer in Entrepreneurship at the College of Commerce, took one of her students, Tammy Forrester (now owner of RSVP Event Design) to several business plan competitions held at American universities. Tammy won several prizes and subsequently, other students also won prizes including Canadian Collegiate Entrepreneur of the Year in 2002. Their successes birthed the idea of developing a competition in Saskatchewan. Monica and Tammy approached the Dean of the College of Commerce at the time, Lynne Pearson, regarding a potential partnership and in 2001, the project was born. Further discovery of, and research on, the Massachusetts Institute of Technology $50K Business Plan Competition model shaped the competition into an economic development tool rather than just an academic tool.

“At the Praxis School of Entrepreneurship at Global Infobrokers, we work with startup companies everyday and know first hand the importance of new enterprise to our economy. We are also blessed with a brilliant group of educated young people in this province, many who have started successful businesses but many more who have left. We want to encourage them to stay or return and establish ventures that maximize their strengths and provide future jobs for others. We also want to create a climate of investment first rather than debt first. Our philosophy as a company and in this competition is one of entrepreneurs supporting entrepreneurs,” says Monica.

Tammy Forrester has a passion for entrepreneurship in Saskatchewan and encouraging it as a career option for young people. She not only owns her own firm that provides services throughout Western Canada, but actively works with companies who wish to get established. She graduated with a B.Comm. from the University of Saskatchewan. Of her experience as a competitor in other Business Plan Competitions, she says,

“The opportunity of having experienced business people and representatives of financial institutions critique and evaluate my business idea as presented was an incredible learning experience for me. Their feedback encouraged me to make some changes and move forward in my business venture but most of all it created a confidence in me that is needed to succeed as an entrepreneur. That same support and confidence is needed in our community to help build the generations of entrepreneurs within Saskatchewan.”

Ms. Lynne Pearson wholly endorsed this partnership from its inception and the role it would play in the future of entrepreneurship and education in the province.

“This initiative is an excellent example of the link between education and economic development. We have students from across the province and from every walk of life who have ideas that can translate into successful businesses. We, as educators, can provide critical learning for the future owners and presidents of these firms.

We are now expanding the Educational Partnerships with Venture Forward so that we can include more educators in the program. The participation of the N. Murray Edwards School of Business has been crucial to the establishment of this competition and we now look forward to engaging more institutions and schools in this initiative.