More than 80 teams from 20 universities across Canada have applied to compete in Canada’s Business Model Competition 2017, to be held next month in Halifax.

The contest was launched by Dalhousie University’s Norman Newman Centre for Entrepreneurship in 2013. It allows finalists to compete for part of a total prize package of $50,000 and in-kind prizes.

A pool of 30 teams will be selected to compete in this year’s event.

The Newman Centre established the contest as part of its Launch Dal programming, which sees university-based venture teams use the business model canvas to validate their business idea, obtain customers and gain market traction.

The contest will begin March 10 at Dalhousie. The final part of the competition will be held on Saturday March 11 at 2 pm in room 1020 of the Rowe School of Business and will be open to the public.

Contest winners will go on to compete in the International Business Model Competition, which will be held May 11 to 12 in Silicon Valley at the Computer History Museum.