News Release

REF NO.: 60

SUBJECT: Student entrepreneurs to compete for $10,000 cash prizes at 2018 Mel Woodward Cup

DATE: March 27, 2018

The Memorial Centre for Entrepreneurship (MCE) will host a business idea competition that invests $40,000 in student entrepreneurs on Wednesday, March 28, at the Johnson GEO CENTRE in St. John's.

The 2018 Mel Woodward Cup provides prizes of $10,000 each to up to three teams of Memorial University students for their innovative business ideas. Winning teams will also be reimbursed for up to $1,500 in approved marketing and legal expenses and will receive access to MCE’s co-working space at Memorial, enrolment in the Genesis Centre’s Evolution Program, mentoring and other services.

The competition will be held from 6-10 p.m., during which time eight teams of students will present their business ideas and be evaluated by a panel of judges from the business community. The winning teams are expected to be announced at 9:30 p.m. Members of the media are invited to attend.

The Memorial Centre for Entrepreneurship, based in St. John’s, promotes entrepreneurship, supports students, faculty and staff in developing their business ideas and contributes to developing an attractive entrepreneurial ecosystem in Newfoundland and Labrador. The campus-wide centre is a joint initiative of the Faculty of Business Administration and the Faculty of Engineering and Applied Science.

The 2018 Mel Woodward Cup was created through a donation from the family of the late Dr. Mel Woodward, a well-known entrepreneur who founded the Woodward Group of Companies. Peter, Melvin and Tana Woodward collectively donated $1.13 million to Memorial’s Faculty of Business Administration, in memory of their father, to support student entrepreneurs. The Atlantic Canada Opportunities Agency provided a further $130,000 for the competition.

- 30 -