Innovative young entrepreneurs have until 23:59:59 Eastern Time on April 8, 2012 to submit their entry to the latest Young Entrepreneur of the Year competition hosted by the Business Development Bank of Canada (BDC).

The BDC has launched its latest Young Entrepreneur Awards with a new flourish that includes a grand prize valued at $100,000.

Also new is the introduction of online voting.

Between May 2 to 22, 2012 Canadians will have the chance to vote for their favourite innovation projects on BDC’s Facebook page.

The Young Entrepreneur Award competition is open to innovative young entrepreneurs between the ages of 18 to 35. The BDC notes that judges will look for feasible, innovative projects that will enable entrepreneurs to increase their company’s growth potential and overall profitability when evaluating entries.

“Innovation is a cornerstone of success in today’s competitive business world,” says BDC President and CEO, Jean-René Halde. “The $100,000 BDC Grand Prize for Innovation gives the next generation of entrepreneurs an edge in becoming leaders in their field or industry. Canada needs ambitious young entrepreneurs whose fresh thinking can create market value.”

“Projects such as the 2012 BDC Young Entrepreneur Award generate a great return on investment,” says Grant Ellis, managing editor of the Financial Post. “The finalists receive well-earned exposure and, most importantly, the contest is a great opportunity for young entrepreneurs to take their companies to the next level. The Financial Post is proud to partner with the 2012 BDC Young Entrepreneur Award contest.”

To enter, young entrepreneurs must be:

• Canadian citizens or permanent residents with a business based in Canada;
• Have had responsibility for their company’s day-to-day management for at least two years as of December 31, 2011; and
• Hold at least 20% of the company’s capital stock.

Entries have two mandatory components:

• A one- to two- minute video clip that summarizes the entrepreneur’s innovation ideal; and
• A completed 2012 BDC Young Entrepreneur Award application form, available at www.bdcyoungentrepreneuraward.ca/apply.php.

Applicants can also submit up to four optional documents to support the application.

Full details and the official rules can be downloaded at www.bdcyoungentrepreneuraward.ca/rules.pdf.

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