French-speaking Island entrepreneurs compete for $10K prize

P.E.I.'sfrancophoneeconomic development association is offering a $10,000 prize in seed money to a French speaker who wants to start or expand a business.

This is the first timeRDE Prince Edward Islandhas offered a monetary prize in itsDragons' Den-like competition, where applicants pitch their business ideas to a panel of judges.

Community economic development officer Rachel Chappell says her organization got some of the prize moneyfrom Innovation PEI, because workshops and mentoring with Innovation's Ignition program are only being offered in English.

Chappellhopesthis money attracts more contestants.

"A $10,000 cash prize is a very, very significant amount. I think it could really help entrepreneurs with either hiring a new employee or even expanding their business physically, or hiring a graphic designer to make a website for your company," said Chappell.

"Ten thousand dollars will go a very long, long way."

Last yearabout 10 business ideas werepitched, Chappell said. She's hoping that will at least double to20 this year.

The competition is open to French-speaking or bilingual entrepreneurs who are looking to either start a business, launch a new product or service,or expand an existing business on P.E.I.

Applications will be accepted until Feb.1. The winner will beannounced mid-February.