Local entrepreneurs have the chance to win up to $5,000 in funding for their business ideas with the upcoming “Titans’ Den” competition that will take place on the evenings of October 28 and 29.
Titans’ Den gives local entrepreneurs the opportunity to pitch their best-laid business plans to five local business leaders (The Titans), who will then decide if they want to invest their own money.
It is similar to the popular CBC show “Dragons Den”, however, the investors do not take any stake or control in the projects they decide to invest in, nor will the event be televised or conducted in public.
Throughout the course of the event, the Titans’ identities will remain anonymous.
All participants will be expected to have a cursory knowledge of the market they are entering, some basic costs outlined, and the steps they intend to take to develop their business.
Participants will be allowed to ask the Titans for a maximum of $5000 ($1000 from each Titan) for their undertaking.
This is the second time the City of Prince George has initiated this project, and earlier this year the City won a Community Leadership Award from the North Central Local Government Association (NCLGA) in the Economic Development category for the Titans’ Den.
During the first Titans’ Den event, nine participants won about $9850 for five ideas that the Titans deemed “investment-worthy.”
Three of these companies are now operating in Prince George.
“Business is booming! I can honestly say that I was not anticipating such steady growth of my new business when I stepped foot in that room to present to the Titans last fall, but things are really rolling now,” says Jessica Dillon, a successful participant from the initial Titan’s Den and operator of local business, the Delightful Doula.
The City will be publishing the results of the event after its conclusion
Residents interested in participating in the Titan’s Den, are asked to contact Allan Stroet at the City of Prince George.