FREDERICTON (NB) - The New Brunswick Innovation Foundation <http://www.nbif.ca/breakthru> is again on the search for the province's next great entrepreneur. Breakthru - New Brunswick's Business Plan Competition launches today with up to $250,000 in seed investments and professional services for the three top business pitches and plans.

This year will see three winners get started on the road to business and financial success right here in New Brunswick.  The top prize will be $100,000 cash plus services from the Foundation's roster of corporate sponsors.  Two second prizes will be awarded as well, each for $50,000 cash plus services, with one specially geared towards young entrepreneurs and students between the ages of 19 and 34.

"This year we decided to bring the success of Breakthru and our Student Entrepreneurship Prize together in a way that gives new aspiring entrepreneurs the right amount of resources to get  a good start," says Calvin Milbury, the foundation's vice-president of business development.  "Plus students will benefit from our Breakthru Boot Camp at the end of January, where we'll help them turn their idea into a formal business plan."  Harvard Business School graduate Barry Bisson <http://www.shadnet.shad.ca/shad/myweb.php?hls=10114> , president of Shad Valley International <http://www.shadnet.shad.ca/shad/myweb.php?hls=10142> , is slated to conduct the boot camp this year.

"All you need is an innovative idea to enter the competition," says Milbury, "then, after Boot Camp, entrants will have a month to further develop and submit their formal business plan."   Once the finalists are chosen, at the end of February, they'll have three weeks to ramp up their presentations for the foundation's panel of "dragons" that will ultimately choose whose "Breakthru" makes the grade.  The winners will be announced at a gala event on March 25, 2009.

"Considering the recent difficulties in the credit market, making venture capital available to our province's best and brightest is more important now than ever," says foundation president and CEO Barrie Black.  "Creating new innovative growth-oriented companies must continue regardless of what the capital markets can or cannot provide."

Last year Breakthru awarded top prize to a team of university students and an entrepreneur from Miramichi City who have since got their company, Greenlight Geomatics, underway and are now working on widening their opportunity with other entrepreneurs based in Europe.  The other two recipients were Trivnet Media Systems of Saint John and Mass Rule from Moncton.

Qualified participants have until January 19th to enter the competition, which can be done online at www.nbif.ca/breakthru.