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Third RED Challenge offers start-up prize

Are you heavy on business ideas but light on cash? An entrepreneurial contest could balance things out — big time.

Are you heavy on business ideas but light on cash? An entrepreneurial contest could balance things out — big time.

Red Deer College, in partnership with Red Deer Regional Economic Development (Red Deer RED), the City of Red Deer, Alberta Innovations and Community Futures Central Alberta are holding the third annual RED Challenge.

Open to young people with innovative business ideas that have a technology, science or knowledge-based focus, it offers the opportunity to win $20,000 in start-up capital.

“We have all had at least one ‘ah-ha’ moment with a great business, app or website idea, but often get stopped in our tracks by a lack of resources and guidance,” said RED Challenge spokesman Mike Szyszka.

“This is about giving those ideas an opportunity to come to fruition.”

Students enrolled in a post-secondary institution or who have graduated within the last year are eligible to apply. Every entrant will receive training and guidance, with finalists asked to present their plan to a panel of business leaders.

In addition to a $20,000 grant, the winner will receive office space for a year and business mentoring.

The entry deadline is Oct. 12, with additional information available online at www.REDchallenge.ca.