BCIC-New Ventures Startup Competition – registration closes April 16 at 11:00 PM!
New Ventures BC, with title sponsor the BC Innovation Council, is opening its annual startup competition that awards $275,000 in cash and prizes to BC’s best new ventures. They are 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 BCIC-New Ventures Competition(#nvbc2018) not only for a chance at prizes, but to get valuable feedback on their startup, network with the BC tech community, pitch before a jury, and attain recognition to help attract seed investment.
“Whether you come in first place or 33rd place in the competition, you still benefit,” comments Angie Schick, Program Director, New Ventures BC. “Over the past 18 years we’ve seen companies compete, get valuable feedback from our judges, and then come back to win a couple years later after refining their businesses. Best of all, many of our top-placing competitors have gone on to build successful, scalable companies.”
“New Ventures BC stands out from other competitions because, like BCIC’s intensive Venture Acceleration Program, participants are provided with mentorship, coaching and seminars nearly every step of the way,” said Minister of Jobs, Trade and Technology Bruce Ralston. “This competition is just one of the ways we’re helping to develop tech talent, accelerating growth in B.C. startups and creating good jobs throughout the province.”
This year, the top placing startup will be awarded over $110,000 in cash and services. The BCIC second prize package is worth $60,000, and the third placing startup will take home a prize package worth $35,000. But the competition offers much more than just the top prizes. It 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
- Networking events
- Recognition for top teams through media coverage and exposure to potential investors
“We’re extremely excited to once again be the primary sponsor for the BCIC-New Ventures Competition,” said Shirley Vickers, President & CEO of the BC Innovation Council. “Year after year, this competition proves to have a significant impact on the BC tech industry and we’re proud to support this initiative.”
Each year, winners and top-placing startups in the competition get on the radar of investors as startups to watch. 2017’s BCIC First Prize Winner and Resource Prize award winner, Ecoation Innovative Solutions, recently closed a $2,000,000 seed round following the competition.
“We used the funds to hire three new people, expand activities, and grow our operations within North America,” comments Saber Miresmailli, CEO, Ecoation. “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.”
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.
About the BCIC-New Ventures Competition
New Ventures BC (NVBC) is a not-for-profit that promotes entrepreneurship through innovation. NVBC runs the annual BCIC-New Ventures Competition, offering education, coaching, and $275,000+ in prizes to B.C. startups. The NVBC Venture Acceleration programs also provide training and mentorship for early-stage tech companies.
newventuresbc.com | @nvbc
About the BC Innovation Council
The BC Innovation Council, a Crown Agency of the Province of British Columbia, encourages the development and application of advanced or innovative technologies to meet the needs of industry in BC. BCIC and its partners deliver programs and initiatives that promote company growth, resulting in jobs, increased revenue and economic development across the province.