Yellowknife (May 10/06) - One Yellowknife firm is helping to shape the business minds of tomorrow, while showing students how they can cash in on hard work and innovation.

Invent Solutions is holding the Northern Lights Business Plan Competition, which is open to all city high school students.

"We really hope it's going to open their eyes to business," said Jay Dilley, Invent Solutions executive director of operations.

Students are expected to come up with a business idea and submit a written proposal by the end of May. The proposals will be judged by business leaders from the community and the top prize is $1,000.

"It is a lot of work, but we hope to inspire some future entrepreneurs," said Dilley.

The end goal of the competition is to actually see students transform their proposals into real businesses, he said.

A competition like this gives students hands on experience, said John Bowden, principal at St. Patrick high school.

"This is what learning is all about," he said.

Students don't often get the opportunity to explore business and entrepreneurship in a way like this, he said. The winners will be announced in early June, said Dilley, adding he hopes to be able to provide guidance and insight along the way as the students create their plans. If the competition is successful, Invent Solutions hopes to add a presentation component next year.