Spark Innovation Centre has opened applications to its third-annual Ignite Competition.
The organization made the announcement at an Innovation Celebration held in partnership with 360 Incentives and SAP Canada in Whitby, Ontario.
Two startup companies will be awarded $25,000 each to use towards their business plans. Along with the monetary prize, the two winners will be given free office space in The Loft and will also join Spark Centre’s Thrive Accelerator Program which offers significant advisory and business support services to achieve a faster market entry.
Ignite will continue to include the Student Entrepreneur category for a second year, giving away $5,000 to a post-secondary entrepreneur along with automatic inclusion into Spark Centre’s Winter Youth Accelerator Program.
Startup businesses located anywhere within Canada are eligible to apply, but winners must establish their business within Durham Region.
One of the 2014 Ignite winners, Tiko 3D, has since gone on to close an extremely successful Kickstarter campaign, raising $3.5 million.
“Ignite has become without a doubt the biggest contributor to our clients’ success,” said Dennis Croft, CEO of Spark Centre. “The competition is designed as a journey with a series of public pitch competitions, and then concluding with a 30 minute public boardroom pitch. While the winners receive Ignite specific winnings, the bigger success has been the number of angels and funding interests which have resulted.”
Applications for the Young and General Entrepreneur categories must be received by September 11. Student Entrepreneur applications will be extended until September 18.