NEW COMPETITION FOR MANITOBA ENTREPRENEURS LAUNCHED

Up to $200,000 In Support For New or Expanding Businesses

Manitobans with innovative business ideas will soon have the
opportunity to enter a new competition where up to $200,000 in prize
funding will be awarded to winning business plans, Dr. Robert Kerr,
vice-president (academic) and provost, University of Manitoba,
Competitiveness, Training and Trade Minister Jim Rondeau, and Ken
Cooper, executive director of the Winnipeg Angel Organization,
announced today.

The Manitoba Venture Challenge Competition will see entrepreneurs
compete for the opportunity to present their case to a panel of expert
judges, who are also investors, in hopes of securing funding to launch
their new plans.  The new competition is open to entrepreneurs from
across the province who are seeking a minimum investment of $50,000
for a new or expanded business idea.

A variety of private sector investors and the Province of Manitoba
will jointly support the $200,000 in funding.  The Asper School of
Business will work with the Winnipeg Angel Organization, a network of
about 30 private-sector venture capitalists in Manitoba, to help
attract investors to the new program.

"This new competition represents another example of the Asper School's
relevance to the local business community as we are building on past
success with student competitions by extending the model to local
companies," said Kerr.  "This new effort reinforces the close ties
between the University of Manitoba, the Asper School of Business, the
business community, investors and the province and represents a unique
partnership between those involved."

"Raising and retaining investment capital is a major component of our
strategy for economic growth and this new project is a great example
of working in partnership with the university and private sector to
benefit Manitoba business," said Rondeau.  "This event will be good
for those receiving an investment but in addition, all entrepreneurs
chosen for the business plan boot camp will be helped to further refine
their business plan which will better their chances of attracting
capital in the future."

A number of local investors have agreed to be part of the new
competition including Guy Bieber of Bieber Securities and Allan McLeod
of the Tribal Councils Investments Group.  In addition, the Asper
School has attracted investors from Alberta, Ontario and the United
States to the event.

"I believe the work the Asper School of Business has done in
attracting national and even international investors to this new
competition will give entrepreneurs and local investors an insight
into what's happening throughout North America," said Cooper.  "This
new competition will be a welcome and much needed forum for local
entrepreneurs to get in front of angel investors and is a tremendous
opportunity for investors in Manitoba to work together in support of
local business."

The competition will take place April 3 to 5 at the Fort Garry Hotel
at the same time as the Asper School's international student business
plan competition, the Stuart Clark Venture Challenge.  The Asper
School's entrepreneurship centre will co-ordinate applications and
deliver seminars for the selected participants.  One important task is
to educate entrepreneurs on creating and presenting a business plan
that will attract equity investors.  According to investors, an
effective presentation of a concept is crucial to securing an
investment but many new entrepreneurs struggle with this challenge.

Entrepreneurs interested in the new program must complete an intent to
compete form by Jan. 18 and submit their formal business plan by Jan.
31 to the Asper School of Business.  A maximum of six entrepreneurs
will be selected to present their ideas in April.  These six will take
part in a one-day seminar in early March on the basics of writing an
investor-oriented business plan and how to effectively get their
concept across in a variety of formats.  The winning entrepreneur or
entrepreneurs will be announced on April 5 at the conclusion of the
Stuart Clark and Manitoba Venture Challenge.

More information on the Manitoba Venture Challenge is available at
www.umanitoba.ca/entrepreneur/ or by calling the Asper Centre for
Entrepreneurship at the University of Manitoba at 474-8422.

The Government of Manitoba is distributing this news release on behalf
of the Province of Manitoba and the Asper School of Business.