Phillip Curley of Fredericton-based HotSpot Parking and Christopher Cowper-Smith of Halifax’s Spring Loaded Technology have made the shortlist for the 2015 BDC Young Entrepreneur Award, joining two other Atlantic Canadians as finalists in the competition.

BDC, the federal government’s business development bank, announced the finalists in a statement this morning for the competition that seeks to find the country’s leading entrepreneur aged between 18 and 35. The other Atlantic Canadian finalists are Martin O'Brien of the Cascumpec Bay Oyster Company in Prince Edward Island, and Melissa Butler, of St. John’s. The winner, who will win $100,000, and runner-up, who will receive $25,000 in consulting services, will be announced on June 22.

Between now and June 17, people can vote for their favourite candidate as often as once a day here. The public vote will account for half the consideration when choosing the winners, with the other half coming from a panel of judges.

The two Atlantic Canadian entries have quickly distinguished themselves in differing sectors.

A few years ago, Curley came up with the idea of developing an app that would allow people to pay the parking meter with their payphone. Using a mobile payment app and a wireless network that uses Apple’s iBeacon technology, the system also helps local businesses to better serve their clients.

When shoppers using HotSpot enter a business, they are shielded from a parking ticket for as long as they stay. Establishments that serve alcohol can protect their customers from parking tickets, even if the patrons have to leave their car until the next morning. Merchants can also use the system for interactive marketing to their customers.

Hotspot announced in April it is moving into the U.S. in partnership with Charlotte, N.C.-based mobile payments specialist Passport – a move that will soon increase HotSpot’s accessible market by 100 times. It has since launched in Nashville and is now allowed to launch in Salt Lake City.  (Read our recent article on HotSpot.)

“Each of this year’s finalists has provided a compelling story about how their business stands at that crucial crossroads where the right mix of vision and action can secure future growth and success,” Michel Bergeron, BDC’s Senior Vice President, Marketing and Public Affairs, said in a statement. “With his mobile parking system, Phillip is tackling a problem that can cause real financial hardship for local merchants in a creative way that can actually drive more business to their doors.”

For his part, Cowper Smith and his Co-Founder Bob Garrish have worked to develop the world’s first knew brace that provides power as well as stability for the joint. The brace, which has been in development for two-and-a-half years, will be launched later this year and manufacturers in the company’s new headquarters in Dartmouth.  (See accompanying story.)

“With his innovative knee-brace technology, Chris can take advantage of a vast market opportunity,” said Bergeron. “Spring Loaded is yet another example of how Canadian entrepreneurs can create world-class technology products for global markets.”

Both finalists said they owe a lot to the members of their team and plan to use the money, if they win, to increase their company’s traction.

“The $100,000 would be just the right ingredient to set us up the manufacturing of the braces later this year,” said Cowper-Smith.