Harry W. MacLauchlan (1926-2002) combined his entrepreneurial initiative, work ethic, business judgment, and people skills, with a deep commitment to his family, community, and province. The MacLauchlan family has endowed an award to help advance and encourage entrepreneurial students at UPEI to build innovative ventures that will grow and benefit Prince Edward Island communities.
The Harry W. MacLauchlan Entrepreneurship Program
The Harry W. MacLauchlan Entrepreneurship Program is dedicated to the development of students having an entrepreneurial outlook who will create and lead new ventures on PEI.
Current UPEI students, in teams or individually, will compete for support to develop their ventures. The competition will take place from January to April 2021. Teams chosen to compete will earn significant public exposure for their startup idea, will receive coaching from experienced mentors, and will potentially win a portion of $45,000 in prize money to be used to support the startup venture.
The Competition will take place beginning March 18, 2021. Each team will be required to submit a business plan and a 5-minute video pitch by 11:59 pm on March 18, 2021.
A semi-final live "Question and Answer" session will take place on March 24, 2021. Each team will give their 5-minute pitch live and face questions from the Judging Panel (who will have previously studied the business plans) as well as questions online from the broader UPEI community.
The judging panel will select three winning teams based upon their assessment of the capabilities of the team, the chances of success of the startup venture, and the potential benefit to Prince Edward Island.
Three winning teams will be announced by April 5, 2021.
Individual team members of winning teams will receive a $500 cash award per student separate from the startup grant. The amount of the award to each team will be contingent upon their development of an advanced business plan with forward-thinking strategies that increase the likelihood of success in their first year of business.
The total dollar amount of the award to each of the three winning teams will be decided by a panel of judges based upon the need shown in their business plan, with the annual sum of awards to all teams being no greater than $45,000. The minimum award to any team will be $5,000.
In order to be eligible for the Harry W. MacLauchlan Entrepreneurship Program, student teams must submit a one-page pre-screening application on or before 11:59 pm on January 14, 2021.