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Chinook Entrepreneur Challenge Page 3
Mentor is under NO obligation to agree to work with anyone. The Participants must ensure
that their potential Mentor’s skill set, time availability, and past experience are appropriate
to assist them with their business plan. Provided the Mentor is in agreement the
relationship is expected to continue for the duration of the current year’s Challenge until
Business Plan Submission Deadline
Once a Mentor and individual decide to work together, they must inform the
Organizing Committee in writing.
5.
Minimum Number of Entries
There must be 15 business plans entered on or before the deadline specified in (e) below
for the competition to proceed to the screening and judging stages. If there are not 15
business plans submitted to the competition the organizing committee has the right to
terminate the Competition with no prizes awarded.
II
Eligibility Criteria
1.
Eligible to participate
(a)
Individuals (or teams), existing business owners, students, researchers, or anyone
with a sustainable business or concept.
(b)
Sustainability of the business or concept will be determined in the absolute and sole
unfettered discretion of the Committee and/or Judges.
(c)
Teams
(i)
must have one or more member living, working or attending school in the
Challenge Region;
(ii)
must have one member designated as the Team Leader
(d)
Existing business:
(i)
must have between one and twenty employees (including the business
owner);
(ii)
annual revenues between $5,000 to $500,000 and $10,000 to $500,000 in
capitalization;
(iii)
must be expanding their service or developing a new product line. The
Participant must certify this information to be true on May 29, 2008 and
again on July 18,2008.
(iv)
Business must be in operation for two (2) years or more to be considered
existing business. A new business is under two (2) years.
(e)
The purposed business must be located in the Challenge Region.
(f)
All business plans must be submitted no later than 4:00 pm on May 29, 2008 to be
eligible.
2.
Ineligible to participate
A Participant is ineligible to participate in the Challenge if he or she:
(a)
does not meet all the eligibility requirements;
(b)
has won cash and/or prizes as a finalist in a similar Entrepreneur Challenge;
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