On July 28, 2022 the Sarnia-Lambton Business Development Corporation launched Lambton Innovation Challenge to assist businesses with implementing innovative business concepts or new products or services that will create sustainable growth and have the potential to impact growth on other businesses within Lambton County.
The winner will receive a $150,000 interest-free repayable loan with no interest or payments for 3 years.
Both new and existing businesses based in Sarnia-Lambton are eligible to apply, as well as those looking to locate in Sarnia-Lambton. The winner will ultimately be selected by the Sarnia Lambton Business Development Corporation board of directors.
The Process
Initial submissions are due on August 22, 2022 by 5:00 pm. A selection committee will select the top 7 semi-finalists who will receive business development and support throughout the competition and participate in a presentation workshop and business planning educational sessions. Entrants will be notified by September 2, 2022 if they were selected as a semi-finalist or not.
Semi-finalists will participate in a live pitch competition on October 17, 2022 in front of a live audience. A panel of judges will select three finalists who will then pitch their projects to the SLBDC board of directors on October 21, 2022. The winner will be announced on October 24, 2022.
For more information about Lambton Innovation Challenge and to request the application document, contact info@slbdc.com or Don Anderson, General Manager, Sarnia-Lambton Business Development Corporation at don@slbdc.com.
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