If entrepreneurs need an incentive to vie for the $275,000 up for grabs in the BCIC-New Ventures Competition, last year's winner can provide it.
Ecoation Innovative Solutions recently closed a $2,000,000 seed round that was made possible by leveraging its 2017 prize money.
“We used the funds to hire three new people, expand activities, and grow our operations within North America,” says CEO Saber Miresmailli. “Without the prize we couldn’t have expanded, or launch a trial in California—we wouldn’t have seen the massive successes we have now. The competition is great exposure and experience. If I could, I would come back to enter again.”
New Ventures BC is once again seeking the most innovative and scalable companies in health sciences, agritech, biotechnology, IT, cloud computing, apps, fintech, and more.
Businesses from any tech sector can enter the competition (#nvbc2018). As well as the cash prizes, entrants can get valuable feedback on their startup, network with the BC tech community, pitch before a jury, and attain recognition to help attract seed investment.
This year, the top startup will be awarded more than $110,000 in cash and services, with $60,000 for the second-place winner and $35,000 for the third-place finalist.
The competition, which has the BC Innovation Council as the title sponsor, also includes:
• A $10,000 top regional cash prize for the best-placing venture outside of Metro Vancouver
• Industry-specific cash prizes for startups focused on resources, social ventures, and health sciences
• Free, educational business seminars that are open to everyone
• Mentorship for companies placing in the top 40
• Dedicated mentor teams for companies in the top 25
• Recognition for top teams through media coverage and exposure to potential investors
Throughout the competition, participants validate and strengthen their business models by working through challenges such as a feasibility test, condensed venture plan, and a pitch. The competition events calendar kicks off with a business seminar on April 4 and a networking event on April 11.
Startups are invited to register by April 16.
