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Young Entrepreneur Competition 2012

Young Entrepreneur Competition 2012. Three Months … Three C hallenges. Will Y ou and Y our Team E merge a s Champions?. Product or Service Finance & Design Marketing & Promotion. DRAGONS’ DEN. $4,800 IN CASH PRIZES !!. Young Entrepreneur Competition . 2011. 30. 28. 58.

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Young Entrepreneur Competition 2012

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  1. Young Entrepreneur Competition 2012 Three Months… Three Challenges Will You and Your Team Emerge as Champions? • Product or Service • Finance & Design • Marketing & Promotion DRAGONS’ DEN $4,800 IN CASH PRIZES!!

  2. Young Entrepreneur Competition 2011 30 28 58 DRAGONS’ DEN Every School In SD No. 23 Represented! 76 2012 42 34

  3. Norm Bradley – Director of Instruction K-12 School District No. 23

  4. Okanagan College Dr. KyleenMyrah Okanagan School of Business

  5. Robert Fine – Director of EconomicDevelopment Central Okanagan Economic Development Commission

  6. The Young Entrepreneur (Dragons’ Den) Committee Members2012

  7. Thank you Okanagan College Business Student Mentors!

  8. Thank you Teacher – Sponsors!

  9. Secondary School Winners! 2011 TWINN Designs Jonah Janko(President) Curyn Procter (Vice -President) Andrew Dibiase(Marketing) Cory Janko(Financial)

  10. Competition Format - Overview • Middle and Secondary school student teams participate and are judged separately. • Teams will have approximately four weeks to complete each task and will have the opportunity to work with SIFE students from Okanagan College School of Business and mentors from the community to assist them in the preparation of their presentations for each task. • Each team registered for the competition will make a presentation to the judges on Task #1. • Teacher-Sponsors will inform their students teams of the results the next day. • Teams will be eliminated after each judging round.

  11. Competition Format - Overview • For the teams that successfully make it through to the next round of competition, at least one student from each team must be in attendance at the next Task Orientation Meeting. • Winning teams (1st, 2nd and 3rd place) will be determined after the judging of Task #3. The names of the student team champions and runners-up will not be revealed and will remain confidential until the winners are announced at the Dragons’ Den Awards Dinner. • There will also be a Middle and Secondary Innovation Award and a Middle and Secondary Trade Show Award. • Important – if you are a returning team, you are not allowed to re-use products or services previously used in the competition.

  12. Team Format - Overview • TEAM NAMES due today! • Each team has a Teacher-Sponsor from their school, who will pass on information and periodically check on how students are doing with regard to communication between the teams and their SIFE mentors. (Okanagan College business students). • Each team must have one parent or guardian contact name/phone number. • Each team must have an e-mail address for updates and for contact reasons.

  13. Tasks - Overview There will be three levels in the competition consisting of the following tasks: • #1 Product/Service Innovation • #2 Marketing and Promotion • #3 Finance and Design • Student teams and Teacher-Sponsors will receive an outline of each task at the group Orientation Sessions.

  14. Events - Overview Judging Days Mentor Days Orientation Days Awards Dinner

  15. Judges - Overview • Student teams will present to a panel of 3 to 5 judges. • Judges will be business people from our community.

  16. Timelines • Please remember to take the updated schedule of events with you and update your calendar! • http://twitter.com/CareerProgram23

  17. Prizes Secondary School Competition First Prize - $1,800.00 Second Prize - $750.00 Innovation Award - $500 Trade Show Award - $250 • Middle School Competition • First Prize - $750.00 • Second Prize - $250.00 • Innovation Award - $250 • Trade Show Award - $250 A Total of $4,800 in Prizes!

  18. The Young Entrepreneur Competition Dragon’s Den Edition 2012

  19. This year’s Theme! “New & Improved” How can you make your product innovative enough to withstand current economic conditions? Remember: Be ethical and consider the environment

  20. Last Year’s Testimonial Video

  21. Task 1 – Product/Service Innovation

  22. Three questions to ask yourself: • Am I suited to be an entrepreneur? • Is my business idea feasible? • Have I acquired all the resources and skills that are required to ensure success?

  23. Successful Entrepreneurs are: • Passionate • Opportunistic • Persistent • Visionaries • Goal-oriented • Independent thinkers • Idea generators • People-oriented • Sharing • Doers • Moderate risk-takers

  24. Innovation Something new or different introduced; introduction of new things/methods

  25. TIME Magazine’s Best Inventions of 2011

  26. Feasibility Capable of being done, effective, or accomplished; probable; likely; suitable

  27. Feasibility Test your business idea by exploring these four themes: 1.Personal considerations. Does your business idea satisfy your personal goals and objectives? • Marketing considerations. Is there a market need for your product or service? • Production considerations. Will you be able to produce the required volume and quality of products and services? • Financial considerations. Can your operation satisfy the required financial goals?

  28. Social Responsibility • Contributing to the community • Solving problems in peaceful ways • Valuing diversity and defending human rights • Treating others with respect • Exercising democratic rights and responsibilities

  29. Ethics A system of moral principles dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions.

  30. Competitive Advantage The strategic advantage one business entity (something that has a real existence; thing) has over its rival entities within its competitive industry. Achieving a competitive advantage strengthens and positions a business better within the business environment.

  31. Researching Opportunity The best business ventures to pursue are those which: • You enjoy • Make use of your unique experiences, skills and aptitudes • Serve a market need

  32. Okanagan College & SIFE Mentors • Great Support!! • Lots of Communication • Face-to-Face meetings • Email • Phone • Meeting Times and Locations • Make up an agenda for yourselves!

  33. QUESTIONS??

  34. MENTOR TIME!!!

  35. Good Luck Entrepreneur’s!

  36. Good Luck Young Entrepreneurs!

  37. YOU are remarkable!

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