The Honourable Michael F. Currie, Minister of Development and Technology,and Doug Hall, Founder and CEO of Eureka! Ranch, today announced a $285,000 scholarship fund to assist Prince Edward Island businesses.
The first 30 eligible companies to register will attend a 2 day Eureka! Ranch training program where they will receive instruction on how to rethink and maximize the effectiveness of their current business proposition.
Eureka! Ranch is a world renowned innovation think tank that helps companies think smarter and more effectively about business growth. Described by Inc. magazine as "America's Top New Product Idea Man," Hall founded The Eureka! Ranch in 1996 and has since led a team of researchers who have conducted more than 6,000 training sessions for some of the top companies in the world, including Disney, Ford and Pepsi. A tracking study has found Eureka! Inventing ideas have a 250 % great chance of success than the average new product.
Hall is a part time resident of Prince Edward Island and has already worked with several local companies and charity organizations in the province including the Indian River Festival of Fine Music, College of Piping and Celtic Arts and Cavendish Figurines.
Featured on CBC Venture, Doug's teachings and programs have proven to be dramatically effective with both large corporations and small businesses alike, in many cases spawning over 50 % growth without the business spending any additional money.
"We are very fortunate to have access to someone of Doug Hall's calibre, and who is so genuinely interested in our collective goal of helping Prince Edward Island businesses grow," said Minister Currie.
"I'm thrilled to be part of this initiative! This is something we've been working on for some time," said Mr. Hall.
Hall also announced today he is in discussions to establish a Eureka! Ranch of Canada at the Atlantic Technology Centre (ATC) in Charlottetown, Prince Edward Island, Canada.
"After having the opportunity to work with many Island business owners, listening to the dedication to growth of the provincial government and seeing how well thought out and first class the new ATC is, we are at a point where we can make this dream a reality," said Hall.
The Eureka Ranch! Program is designed to work with both large corporations and small shops.
To be eligible for the program, businesses must be primarily headquartered in Prince Edward Island, have a genuine interest in growth, and a willingness to change. To determine eligibility or to find out more information on this scholarship fund, contact a business development officer at Prince Edward Island Business Development or Technology PEI Inc.
For each business put through the program, $1000 will be donated to the college of Piping and Celtic Arts scholarship fund, ensuring all the money will remain in Prince Edward Island.