Venture Seed Fund helps new student businesses

by | Oct 31, 2014 | News

Rebecca Pilozo Melara
Biz/Tech Reporter

The Humber Launch prepares students for upcoming New Venture Seed Fund (NVSF) competition at information sessions.

The NVSF information sessions are designed to teach applicants how to write business plans and prepare applicants for the upcoming competition. The fourth annual NVSF competition gives applicants an opportunity to share their business plan with a final prize up to $10,000 that can only go towards the applicants new business. Associate Dean of Humber’s business school, Peter Madott said, “These sessions are to help people understand the submission process on how to develop a business plan in order to compete in the contest.” Additionally, Humber college business professor and entrepreneur advocate, Tony Gifford said, “This money (prize) can go towards things for their business such as a business certificate.”

To be eligible to partake in the competition, one has to be a full time Humber student who is completing or expected to graduate during Jan. 1, to Aug. 2015. An early submission deadline is on Nov. 17 with a chance to win an iPad. The final deadline is on Dec. 5 at 4 p.m. EST and the winner of the NVSF competition will be announced on Jan. 9, 2015.

On Oct. 27 and 28, the sessions took place in the Blue room of Humber College’s Lakshore campus. On Oct. 30, the final day of the NVSF sessions, the event took place in room L3002/3005. “I think we had multiple dates to accommodate the schedule of many students and peoples schedules,” Program assistant of the Humber Launch, Bram Cherun said. NVSF sessions will be taking place at Humber’s North campus on Nov. 3 in room B101, room C109 on Nov. 4, and 6 at 3:30 p.m. to 5:30 p.m.

The Humber Launch is an opportunity for aspiring entrepreneurs to turn ideas into a business. Members of the Humber Launch are provided with resources and business insight as they start up. Maddot says, “ Whether you win (NVSF) or not, Humber Launch is there to help mentor and coach people who are really trying to start a business.”