Coastline Colab, Powell River’s coworking space and business training centre, has partnered with Vancouver-based business incubator Spring Activator to offer the $10,000 launch challenge to entrepreneurs and businesses in the community.
“The past year has been challenging for many businesses and people,” stated Julie Froekjaer-Jensen, project lead for Coastline Colab, in a media release. “Entrepreneurs need help to survive and thrive during this challenging recovery period and everyone from donors and funders to communities are looking for ways to provide business support. That’s why we brought Spring’s business resiliency program to Powell River, and why we’re so pleased to be a part of the launch challenge.”
The launch challenge is a newly established $10,000 grant fund to help entrepreneurs and business owners in various communities in BC and Yukon invest in launching a new business, product, or service, or in launching an existing product or service in a new market, the release stated. The challenge is designed to equip businesses with new skills through online learning within the business resilience program.
“Small businesses in British Columbia make up the majority of our province’s businesses, and with 3.5 million entrepreneurs nationally, this group plays a pivotal role in restabilizing the economy as we work to recover from this pandemic,” stated Froekjaer-Jensen. “By offering online master classes, we provide Powell River entrepreneurs with the opportunity to learn and grow on their own schedule, as well as provide the opportunity to win prizes that will help move their business visions forward.”
In order to enter the launch challenge, participants must enrol in Resilient Powell River, a free online business resiliency education program, and view at least five of the program’s master classes, or complete the incubation masterclass series. They then complete a business growth plan, which can also be developed through Coastline Colab’s upcoming business planning fundamentals program (register at coastlinecolab.ca) and submit the plan to Spring Activator by June 30 to be considered.
In addition to the $10,000 grand prize, there are gold and silver prizes of digital marketing and strategy packages, and Coastline Colab will be offering a business incubation prize package exclusively for Powell River businesses, which includes a three-month membership at Coastline Colab and six coaching sessions with a professional business coach and branding expert, valued at $2,000, according to the release.
“We know Powell River’s entrepreneurs are innovative and socially conscious, which is why a Powell River business, 32 Lakes Coffee Roasters, won the last $10,000 prize Spring offered,” stated Froekjaer-Jensen. “We’d love to see what other ideas people in this community have, and the positive impact those business ideas may have on the world around them.”