It’s time to face the titans!
If you’ve got a business pitch that needs a financial boost to get it off the ground, the City of Prince George is hoping to hear it by way of a new pilot program next month.
Set to the tune of Dragon’s Den, one of CBC’s popular reality shows, local business leaders, known as ‘Titans’ will hear pitches from entrepreneurs and will ask for money for investment up to a maximum of $4,000, equating to $1,000 per Titan.
The goal of the program is to connect aspiring business people and their untested proposals, the city says in a news release.
“As the City affirmed during the consultation process of the City’s Economic Development Strategy, securing seed funding to get ideas off of the ground is notoriously tough for entrepreneurs,” explains Prince George City Manager of Economic Development Melissa Barcellos.
This has left many innovative and worthwhile ideas stranded too often on a literal drawing board. In an energetic, ‘can do’ city like Prince George, it’s not hard to find leaders who have achieved great success in the business world. The City asked a few such leaders if they were willing [to] help the next generation of entrepreneurs to gain a foothold. Unsurprisingly, the response was very positive.”
The Titans, however, won’t be taking a stake or control of a business pitch and it won’t be conducted in the public eye.
These leaders, who will remain anonymous, are described by the city as ones who have years of experience with successful businesses.
“Those entering the Titans’ Den will be expected to have a cursory knowledge of the market they are entering, some basic costs outlined, and the steps they intend to take to develop their business,” the statement continues.
“As this is a pilot project, we will be measuring the success of the event and then making a decision about whether to hold more,” adds Barcellos.
Titans’ Den is set to take place Oct. 29 at the Ramada Hotel with COVID-19 distancing protocols in place.
Information for those who are interested in participating can go to the City of Prince George’s website.