If you need anywhere from a quarter million to $1 million to grow your business, the Shuswap now boasts its own form of Dragons’ Den.

If you haven’t watched the popular television show, it features five wealthy Canadians who take pitches from eager entrepreneurs looking for cash and/or expertise from the business moguls.

The Shuswap version of the show is what’s called the Southern Interior Innovation Fund (SIIF).

Managing director John Drope joined Salmon Arm Savings and Credit Union CEO Michael Wagner in Salmon Arm Oct. 28 to announce the fund, which currently stands at $6.2 million.

Of that, $3.6 million came from southern Interior-based credit unions; $2 million from the Southern Interior Development Initiative Trust Fund; and the rest from the board members guiding the fund. To be an individual member on the board, a $100,000 investment was required.

The Southern Interior Development Initiative Trust Fund, or SIDIT, was created in 2006 when the provincial government put $50 million into a regional account to help grow and diversify the economy of the southern Interior.

Regarding credit union participation, Wagner was key.

“We see it more as a community economic development initiative than an investment. If we’re not going to help, who will?” Wagner said, noting that he would like to see the fund grow to $10 million.

Drope, who manages the SIIF with Brent Bolleman, explains who the fund is intended to target.

“We’re focusing on companies that do have revenue. It’s not a start-up fund. It’s for companies that have revenue and want to grow or expand and are looking for an equity partner.”

He adds that businesses should be after a minimum of $250,000 in order to qualify; the fund is not meant for entrepreneurs who are looking for smaller cash injections.

Just like the Dragons’ Den, the Southern Interior Innovation Fund board contains much expertise – business people who, should they take on a business, are willing to help guide it to success. And, just like the Dragons’ Den, the board includes a representative of Boston Pizza International. Co-chair is George Melville, who is Dragon Jim Treliving’s co-owner and partner in the giant pizza enterprise.

To learn more about the fund or to apply for funding, go to www.siifund.ca.