In its Article IV Canadian economy review, the International Monetary Fund (IMF) mentioned that the government offers generous tax incentives to small- and medium-sized enterprises. The IMF also stated that new businesses or start-ups are the key to introducing fresh business models, novel technologies and ideas to the marketplace.
Canada’s investors and start-up supporters also realize the importance of start-ups, and this helps explain the influx of competitions for entrepreneurs to pitch their ideas and obtain funding.
The Unlock Your Big Idea Pitch Competition is such an endeavour, allowing entrepreneurs to come up with innovative business ideas and impress the judges to win cash prizes. The 2016 competition attracted more than 160 applicants, and 14 were shortlisted in five categories to present their idea to a panel of judges.
Oneiric founder Emily Rudow was one of the winners. She received $10,000 to market her revolutionary protective hockey pants. She won the prize for the Best Innovation for Small Business.
Rudow was excited to be a winner and believes the prize money will help her take Oneiric to the next level. Her company produces protective hockey pants that make wearing the attire for the game easier and quicker compared to traditional method of strapping on protective gear. When Rudow was in her fourth year of Business Administration in 2011, she had to come up with an innovative idea and pitch it to her class. The result was Oneiric hockey pants.
Rudow stated that she came up with the protective hockey pants idea because of her love for hockey and her dislike for donning hockey gear. Oneiric pants have built-in jock protection and holes that make it easy to insert shin pads. The pants also offer protection to the back of the legs and come with cut-resistant ankles. Putting the pants on is so easy that adults do not have to help kids get ready for a hockey game.
The Unlock Your Big Idea Pitch Competition was created for entrepreneurs like Rudow in order to give them an opportunity to compete with other entrepreneurs. Similar competitions offer entrepreneurs and start-ups a platform to showcase their business ideas and launch their businesses. While there are many opportunities for entrepreneurs to excel, they can increase their chances by having a UCW MBA degree under their belt.
The UCW MBA program is designed to help entrepreneurs succeed. The program promotes and encourages innovation in all spheres of business and ensures that graduates learn the importance of critical thinking, analysis, identifying opportunities, and taking the reins of leadership to drive workplace success.