After an initial electronic application, a panel of judges has narrowed the list of entrants to 24 finalists. For the second stage of the contest, each finalist produced a creative video up to 90-seconds in length that highlights their co-op, shows their commitment and enthusiasm for co-op growth, and explains how they would use the funding.
Videos are now available for viewing through the contest application where co-op fans and the public can vote for their favourite entry. In total, there will be 12 regional prizes distributed in four areas across the country: Ontario, West, Atlantic and Quebec.
Plus, all first place winners will also be entered into a random draw to declare one Grand Prize winner. They will receive consulting services, a resource package and a professional video shoot to create a promotional video for their co-op, services and a promotional video.
First prize is worth $30,000 in donations, second prize $15,000 and third prize $10,000. Submission of the videos started on 17 October 17 and ended on 19 October. Entrants are emerging of expanding co-ops with less than $5 million is assets, less than $2 million in revenues and less than 20 employees.
Co-ops also had to submit a detailed budget outlining the financial requirements of their project and if they win one of the prize levels, how the funds will be allocated.
Voting is open until 21 November and the winners will be decided based upon the number of votes/likes received for their videos.
To vote for your favourite co-ops click here.