Future Looks Bright, According To Bioventure Challenge

Source: Saskatchewan Agriculture and Food

"The young people are our future." It's an often stated, but undisputable, axiom - and it's why a new initiative administered by the Industry Liaison Office (ILO) at the University of Saskatchewan has proven to be so heartening for the province.

The winners of the first-ever BioVenture Business Plan Challenge are Rachel and Chris Buhler, a brother and sister team from Osler, just north of Saskatoon. Their company, Floating Gardens Ltd., will now receive a $50,000 award to help make their business proposal a reality.

"The Buhlers are trying to take advantage of a very interesting synergy between fish farming and hydroponic growing of vegetables," stated Doug Gill, Managing Director of the ILO. "They've done a lot of work to identify what the markets are and what the challenges are. I think that the team is a very worthy winner."

The BioVenture Challenge is a joint initiative of the U of S ILO and Saskatchewan Agriculture and Food to help promote, develop and accelerate the bio-economy within Saskatchewan. It encourages young people to use their talents to build companies in Saskatchewan and, ultimately, to stay in Saskatchewan. It's a strategy to enhance the province's economic base, but also to help demonstrate that young people don't have to leave the province to find good business opportunities.

Gill says this year's field proved the tremendous amount of entrepreneurial talent we have in Saskatchewan.

"All five of the finalists displayed the ability to be creative and innovative with regards to their business proposals. The entrepreneurs involved in writing these proposals showed a great deal of energy and enthusiasm, and a willingness to learn and develop an extensive network of contacts and support systems," he noted.

"I think this challenge is very encouraging for the future of the province."

By all measures, Gill says the first BioVenture Challenge was a resounding success. "We received a really great response. There were probably in the order of 10 applicants for this award, and that, in itself, shows that there is an audience out there," he noted.

"There are young entrepreneurs who are interested in pursuing their business dreams in Saskatchewan.

The quality of the five finalists demonstrates that. I think they are all winners in this initiative,

especially when you look at the training, knowledge and experience that they received in preparing their business plans, writing their proposals and making their presentations to the judging panel. It was a great learning experience for them."

The BioVenture Challenge was funded under the Strategic Research Program agreement between SAF and the U of S. Given the level of enthusiasm for the inaugural BioVenture Challenge, Gill is optimistic that the competition will continue in the future.

More information can also be found on the ILO website at www.usask.ca/research/ilo.

For more information, contact:
Doug Gill, Managing Director
Industry Liaison Office, University of Saskatchewan
Phone: (306) 966-7335
E-mail: doug.gill@usask.ca