Funding available for young entrepreneurs

Young entrepreneurs have another shot at $20,000 for developing their business ideas. Red Deer Regional Economic Development (Red Deer RED), Red Deer College and Community Futures Central Alberta are again organizing The RED Challenge. It’s open to young people who need resources to push their innovative ideas forward.

Young entrepreneurs have another shot at $20,000 for developing their business ideas.

Red Deer Regional Economic Development (Red Deer RED), Red Deer College and Community Futures Central Alberta are again organizing The RED Challenge. It’s open to young people who need resources to push their innovative ideas forward.

Applicants must write a brief description of their technology or knowledge-based business idea, and submit it to www.REDChallenge.ca. Finalists will receive help developing their idea into a business plan, and will then present that plan to a panel of judges for a chance at $20,000 in funding, mentoring from experts and free office space for a year.

Last year, musician Matt Williams won The RED Challenge with an idea for software to help artists access social media sites. He also wanted to assist them in writing business plans and pitches for grants.

This year, The RED Challenge is partnering with [engage] — a networking organization for young professionals — to promote the contest. A launch party is planned for Thursday from 7 to 9 p.m. at The Med Grill and Bar.