FOR IMMEDIATE RELEASE
November 27, 2014
SOCIAL ENTERPRISE INNOVATION COMPETITION LAUNCHES IN NOVA SCOTIA
The Nova Scotia Co-operative Council has launched a Social Enterprise Innovation Competition. Three prizes will be awarded, one in each Region (South west Valley, Northern/ Central, and Cape Breton). The prize is a $2500.00 equity contribution plus 10 hours of technical assistance (governance training, business plan review, etc).
The Social Enterprise Innovation Competition is open to all social enterprises in Nova Scotia who meet the eligibility criteria. They can be start-ups (registered/incorporated and ready to launch), or established social enterprises looking to grow or become more innovative. Municipalities, First Nations, and other agencies considering a social enterprise to address a local challenge or opportunity are also eligible.
Social enterprises are defined as enterprises that use market-oriented production for the sale of goods and/or services to further a public benefit mission. In other words, the enterprises must be operating a business activity – selling a product or service.
The social enterprise can take the form of a not-for-profit, non-profit, a co-operative or social purpose business which are for-profit but designed to fulfill a social mission.
Social enterprises have a strong emphasis on meeting a community need or maximizing an opportunity that will benefit the broader community. Examples may be, (though not limited to), a local daycare, transportation system for seniors or persons with disabilities, recycling depot, homecare and healthcare services, etc.
“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 30, 2015.
Those wishing to apply can do so by visiting www.novascotia.coop.
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Nova Scotia Co-operative Council
(P) 902 896 7291
(C) 902 899 0070