The Selection Committee will choose the Recipient based on the following criteria:
- Management’s ability to recognize the crisis and adapt, with or without external assistance;
- Financial results before and after the turnaround or pivotal event, and the overall timeline;
- Completeness and coherence of the solution, considering all elements in the business model, whether operating/financial/manufacturing;
- Sustainability of enhancements further to the turnaround or pivotal event;
- Impact of the turnaround or pivotal event on the local community.
The nominator must submit a completed nomination form that will include responses to questions, as well as contact information for key players that may eventually be contacted in order to confirm the submitted information. Key players may be the nominees, but may also be professionals involved in facilitating the nominated business’ turnaround or pivotal event (i.e. lawyers, accountants, HR consultants, lenders, investors).
Please note that the completed nomination form must be submitted along with financial statements for the last four years of the business.
Once received, all applications will be screened by BDC and TMA-Montreal for eligibility purposes. The applications will then be evaluated according to a standard grid based on the evaluation criteria. Once all applications have been evaluated, BDC and TMA-Montreal officials will determine which nominated businesses should be shortlisted as finalists for the Award.
The shortlisted businesses will be required to sign and return a declaration and release prepared by BDC within three (3) business days of notification.
The nominations of shortlisted businesses will then be subjected to due diligence, following which they will be sent to the selection committee for review and selection of the Recipient.
All information provided is confidential and will be used only in the evaluation of the nomination.