Eight Central Alberta entrepreneurs ventured into the dragons’ den on Wednesday. All emerged unscathed, and several will be richly rewarded for their daring. The group represented the five finalists in the 2015 edition of the RED Challenge, a competition that recognizes innovative business ideas with cash prizes. Now in its fifth year, it’s put on by Red Deer College, Olds College, the City of Red Deer, Red Deer Regional Economic Development, Alberta Innovates Technology Futures and Community Futures Central Alberta.
The finalists this year were Gerene Cole and Oliver Edwards, whose Quinoa Kings business involves the production and marketing of quinoa; Alain Catellier, who makes and recycles pallets under the name GreenWay Pallets; Vania Bowman, who manufactures urban aquaponics systems as Malachite Greens; Kyle Kaiser and Sabby Choudhary, whose Scout smartphone app and marketing platform is designed for small and medium-sized enterprises; and Tyler Rose and Peter Schill, who have a micro-maltery named Alberta Craft Malting.
Each of the five finalists had to make a pitch to a panel of local business leaders, similar to the format used on CBC TV’s Dragons’ Den program. The Red Deer panel consisted of Leslie Roberts, president and founder of GoForth Institute and co-founder of GoRobos Inc.; Patrick Galesloot, broker/owner of Century 21 Advantage; and Sonya Sawyer Schaab, co-owner of L.A. Radio Group, which operates Sunny 94 and KRAZE 101.3.
The winning entry will earn $20,000, the runner-up $10,000 and the third-place finisher $5,000, with business support also provided. The results are still to be announced. The RED Challenge is open to students enrolled in a post-secondary institution, or who graduated within the previous year.
Last year, Ann Garrett, Sharon Poole and Janet Spafford won the competition on the strength of their fledgling business, Career Catalysts of Central Alberta. It was developed to assist youths and others who are pondering their career options.
hrichards@www.reddeeradvocate.com