Friday, June 25, 2010, Calgary, AB – Three entrepreneurs have been given an extra boost to unleash their innovative ideas thanks to LAUNCH, SAIT Polytechnic’s first annual business plan competition for entrepreneurs.

“SAIT recognized that many students have innovative ideas, but are not fully aware of the necessary steps required to take their ideas to the next level,” says Alex Zahavich, SAIT’s Director of Applied Research and Innovation Services. “LAUNCH was established to provide participants with opportunities for mentorship and support in areas such as finance, marketing, operations, research and development to help convert concepts and business plans into successful start-up companies.”

The competitors attended seminars, prepared business proposals and, ultimately, presented before a “Dragon’s Den” style panel of judges with the hope of winning one of three prize packages ranging in value from $46,000 up to $72,000.

The top three award winners were announced last night at a gala celebration for LAUNCH competitors and industry partners. David Milan, LAUNCH’s 2010 first place recipient, receives $20,000 cash courtesy of the Government of Alberta's Youth Technopreneurship Program, one year of office space, no cost legal services, advising, mentorship and automatic eligibility to be considered for financing.

“The knowledge I have gained through LAUNCH will be of benefit to me for years to come,” says Milan. “Thanks to the mentorship and encouragement I received throughout the competition, I have been able to take my initial concept and develop it into a viable business plan. I am excited to move forward with my business venture.”

Milan’s company, Petrol Films, will offer independent filmmakers a series of high quality film production products for a fraction of the cost of similar equipment used in most studio films. All Petrol Films products are designed to be convenient, modular, durable and affordable. Milan will use the LAUNCH support to work on producing four additional prototypes for his company’s initial product line.

Second place was awarded to Joel Kelly and Britton Ledingham of Ievolve Designs for their plan to provide high quality design and photography work regardless of the individually determined price or budget of each client. They will use their LAUNCH funding to upgrade equipment and to build a larger client base.

Travis Cullen of Tesla Manufacturing Inc. rounded out the top three finalists with his idea to develop a new product that will reduce the risk of injury and death caused by Arc Flash, an electric current that passes through the air when voltage levels overload conductors, resulting in thousands of injured workers every year. Cullen will use the LAUNCH award to begin development of his prototype and explore patent opportunities.

SAIT’s LAUNCH business plan competition is open to recent and upcoming SAIT graduates. LAUNCH prize packages consist of items such as cash, legal services from Fasken Martineau DuMoulin LLP and eligibility for financing through the Canadian Youth Business Foundation and the Business Development Bank of Canada. The next competition will begin this fall. More information can be found at www.saitlaunch.ca.

SAIT Polytechnic is one of Canada’s most exciting destinations for post-secondary education, offering more than 100 career programs that position people for success in technology, trades and business. A leader in innovation, SAIT also collaborates with industry on applied research and delivers corporate training worldwide. SAIT is a member of Polytechnics Canada and one of Alberta’s Top 50 Employers for 2011.

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