2013 Hatch Business Plan Competition
Do you have an innovative business idea that, with a little nurturing, could become a legitimate business? ENACTUS NAIT, novaNAIT and YTP want to help you “HATCH” your business!!
Hatch is a business plan contest open to current NAIT students or graduates from NAIT in the 2012-2013 academic school year. The applicants are those who need a little assistance to help make their business plan a reality. The competition is open to ideas with a technology, science or knowledge-based focus.
The winning entrant could receive $20,000 in seed money to be used for expenses directly related to moving your business plan forward. This also includes one year of incubation space to help get things started.
The contest officially opens on Friday, September 13, 2013 and closes 11:59 p.m., Wednesday, January 22, 2014. All eligible entries will be considered and the top applicants will be chosen to present their ideas to a panel of judges from NAIT and industry. One entrant will be chosen to get HATCHed!! The winner will be announced in February 2014.
You could also have the opportunity to pitch your idea to a group of angel investors and receive advice, mentoring, and networking opportunities, thanks to VentureAlberta. The Canadian Youth Business Foundation (CYBF) will also consider the finalists for loan applications worth up to $45,000 to use towards your business. By getting involved, you will join a network that will help you find and embrace opportunities!
To enter the Hatch business plan contest, applicants must submit a complete, quality business plan. Future educational sessions will offer step-by-step assistance with creating, analyzing, and completing a quality, submission-ready business plan. See Official Competition Rules and Submission Guidelines for more information.
Free Business Planning Boot Camp
Need help writing your business plan? NAIT hosts a yearly free 2-day business planning boot camp in conjunction with Hatch. The second bootcamp this academic year will be held on November 30th and December 1st, 2013. Please email Sameer Singh at firstname.lastname@example.org if you would like to attend. Speakers from industry and NAIT's former Entrepreneur-in-Residence and VA Angels founder, Randy Thompson, will walk participants through how to screen an idea and build out a quality business plan. Topics covered included:
- Screening Business Ideas
- Market Assessment
- Defining Your Business Model
- Operations Planning
- Financial Planning
- Pulling It All Together
YTP-HATCH Winner - 2012
8-Bit 3D is a Canadian visual effects, animation and video post-production company. 8-Bit produces 3D character animation, motion design and visual effects for film and television, commercials and integrated media; operating as an incorporated business since 2012. The company was founded by four NAIT Digital Media and IT graduates who wanted to turn their love of 3D animation into a career and successful business venture. The owners are ecstatic to be this year’s winners and are very thankful for the opportunity and financial capital that the competition has provided the business.
YTP-HATCH Winner – 2011
Adsum Audio, incorporated since 2009 but just now branching out of research and development and into production. "We want to be a worldwide company that sells speakers to everyone," says Adsum president James Osualdini, who graduated form NAIT's electrical engineering technician program in December 2011. "We think we can do it." Osualdini hopes to bring Adsum's first product, a set of two speakers called the Detonator, to market sometime this summer at a price of about $750. A veteran audiophile, he claims Detonators perform like a much pricier set of speakers. "We have some competitors that we looked at - similar ways of doing things, but they charge considerably more," he says. "We feel we're delivering a better product to the user." He also emphasizes the appearance of the Detonator. "A lot of speakers sounds good, but not a lot of them look good," he says. Osuladini began building speakers as a teenager, fascinated by the powerful sounds produced by simple electrophysics. " I thought it was super cool that a moving piece of paper can shake your house. When you're 17, 18, that's pretty cool," he says. "I knew I was on to something when my parents yelled at me to turn it down."
YTP-HATCH Winner – 2010
Triple-i Tracking Technologies
Triple-i Tracking Technologies is currently conducting business out of the Duncan McNeill Centre of Innovation incubation centre following their win of the 2010 Youth Technopreneurship Program (YTP)-Hatch Business Plan Competition. Triple-i, operated by NAIT Bachelor of Technology in Technology Management (BTech) graduate Dean Vitisin, submitted a winning business plan in November 2010 for the second Hatch business plan competition, held by novaNAIT and funded by Alberta Innovates – Technology Futures. This award secured Triple-i $20,000 in seed money to implement their business plan, one year of free incubation space in one of NAIT’s two incubators, as well as all the resources and opportunities available through novaNAIT.
Triple-i Tracking Technologies Inc. is dedicated to provide effective methods for asset tracking and inventory management utilizing RFID (Radio Frequency Identification) technology with innovative processes. Triple-i will consult to implement the most appropriate tagging and tracking systems on the market, and will design a thoroughly customized process to provide a quick return on investment (ROI).