The Nova Scotia Co-operative Council has launched a Social Enterprise Innovation Competition. The competition, open to Social Enterprises doing business in Nova Scotia, offers a chance for three organizations to win a top prize of a $2,000 equity investment combined with 40 hours of technical assistance as well as a mentor.

The co-operative business model has been used as a tool to meet economic and social needs since 1844 when the co-operative movement began in Rochdale, England. However, in recent years, a new wave of social entrepreneurs have emerged who are using various business models in innovative ways to address community concerns while focusing on more than solely a financial bottom line.

The Nova Scotia Co-operative Council defines social enterprises as business organizations that use market-oriented production for the sale of goods and/or services to further a public benefit mission. The social enterprise can take the form of a not for profit, non-profit, co-operative and social purpose business which is for profit but designed to fulfill a social mission.

“The Nova Scotia Co-operative Council is keenly interested in stimulating and supporting the creation of community owned enterprises that can address local issues and maximize a local opportunity. There is a growing market of business enterprises that combine economic, social and environmental goals, which clearly create a win, win, win situation. The social enterprise competition will allow us to not only support local innovation but also create a pipeline of opportunities that can be supported in the future” said Dianne Kelderman, President & CEO of the Nova Scotia Co-operative Council.

The deadline for the first round of applications is January 24th, 2014.

Those wishing to apply can find more information by visiting http://novascotia.coop.

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Media Contacts:

Dianne Kelderman
President & CEO
Nova Scotia Co-operative Council
Truro, NS
(P) 902 896 7291
(C) 902 899 0070
diannefk@eastlink.ca

Mark Sparrow
Business Development Officer
Nova Scotia Co-operative Council
Sydney, NS
(P) 902 564 8821
(C) 902 578 5008
mark@novascotia.coop