Emerging co-ops competing for $200,000

GUELPH, ON, June 12, 2013 /CNW/ - Today, The Co-operators launched the National Co-op Challenge, a social media contest that allows emerging Canadian co-operatives to compete for a share of $200,000 in prize money. Following the success of last year's inaugural challenge, The Co-operators is bringing the contest back, to once again allow Canadians to decide which small and expanding co-ops will win grants.

The National Co-op Challenge was developed by The Co-operators last year as part of its celebrations of 2012, which the United Nations proclaimed the International Year of Co-operatives. The format, which allows anyone to vote for their favourite contestants through Facebook, reflects the participatory nature of co-operatives, which are governed on a democratic basis by their members.

"We had such a wonderful response to last year's challenge, that we just had to do it again," said Kathy Bardswick, president and CEO of The Co-operators. "We encourage eligible co-ops throughout Canada to put in an application and compete for prize money. Best of luck to all the applicants!"

Eligible co-ops' applications are being accepted until July 8. For the application form and more details, visit The National Co-op Challenge section of The Co-operators website at www.cooperators.ca/en/About-Us/foundation/national-coop-challenge.aspx.

Once applications have been reviewed, four finalists will be selected from each of four regions from across the country. They will have an opportunity to make a short video pitch, which will be posted on Facebook. The public will then vote for their favourites, and the top two vote-getters in region will each receive prizes of $25,000. A Grand Prize winner will be selected randomly from among the eight regional winners, earning themselves extra resources to grow their business.

About The Co-operators:
The Co-operators Group Limited is a Canadian-owned co-operative with more than $34 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is listed among the 50 Best Employers in Canada by Aon Hewitt; Corporate Knights' Best 50 Corporate Citizens in Canada; and the Top 50 Socially Responsible Corporations in Canada by Sustainalytics and Maclean's magazine. For more information visit www.cooperators.ca.

SOURCE: The Co-operators