Business students took to the stage this week to present their business ideas at the fourth annual Innovation Challenge. Sponsored by Cox & Palmer, the Innovation Challenge gives student entrepreneurs an opportunity to showcase their business concepts and compete for a cash prize.

However, this wasn’t an ordinary business competition – ideas were to be presented in the style used on CBC’s popular show Dragons' Den. The Innovation Challenge was created by SIFE Memorial as a part of the Launch Pad project. Launch Pad, Canada’s first ever student entrepreneurial incubation centre, is located on Memorial University’s St. John’s campus.

Launch pad provides space, instruments and mentorship to student entrepreneurs. The chosen winner receives free space in Launch Pad for one year and a $2,500 cash investment from Cox & Palmer.

In Dragons' Den style, six student entrepreneurs presented their business concept to a panel of judges. The judges consisted of Anna Cook, Cox & Palmer; Lynn Morrissey, SIFE Memorial; Wayne King, Faculty of Business Administration; and Gordan MacGowan, Genesis Centre.

Adam Puddicombe and Chris Dunne, owners of Rock Solid Design, a web design and services company, were crowned the winners.

“The Innovation Challenge gave us the opportunity to promote our idea to a large audience,” said Mr. Puddicombe. “The resources of Launch Pad will be crucial in making Rock Solid blossom into its true potential.”

Anna Cook, partner at Cox & Palmer, said her company was pleased to sponsor the challenge.

“At Cox & Palmer, we see our relationship with SIFE Memorial as a natural fit,” she said. “We look forward to continuing our participation in the future.”

For Rock Solid Design, the Innovation Challenge was also a great learning experience and the ideal launching pad for their business idea. As Mr. Dunne said: “We now have the opportunity to grow through the resources we gained from the challenge.”