Young entrepreneurs now have until May 6 to apply for BDC's 2012 Young Entrepreneur Award.

The pot has also been sweetened, with an additional $25,000 prize being added to bring the total value of the competition to $125,000.

"We have extended the contest deadline to give all innovative young business owners more time to seize this great opportunity," says Michel Bergeron, senior vice president, marketing and public affairs at BDC.

To submit an entry, applicants are invited to submit a video and four-part application. BDC notes that the video quality will not be considered in selecting a grand prize winner.

"Our panels of judges will not base their decisions on the quality of the video, but on the quality of the innovation project. The video is simply the medium through which entrepreneurs are being asked to convey their message. The actual details of the innovation project are submitted via the confidential entry form," adds Bergeron.

Who can apply

Canadian citizens or permanent residents, aged 18 to 35 as of December 31, 2011, who run a Canadian-based business that is in good financial health can apply.

Applicants must have been responsible for their company's day-to-day management for at least two years as of December 31, 2011, and must hold at least 20% of the company's capital stock.

How to apply

For full contest details or to submit an application, go to http://www.bdcyoungentrepreneuraward.ca/. Contest entries can be submitted until 11:59:59 pm EST on May 6, 2012.

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