Entrepreneurial Dreams Put to the Test in Hopes of Winning Big in 2014. Over $300k up for grabs in BCIC-New Ventures Provincial Competition, Here’s the official press release for the 2014 BCIC New Ventures Competition – Registration now open!
BRITISH COLUMBIA – The annual British Columbia Innovation Council (BCIC) New Ventures Competition is back and better than ever in its 14th year and is seeking emerging BC entrepreneurs who are ready to take their technology startup to new heights. Companies in the early stages of innovation and business development will be given valuable exposure and the chance to receive mentorship from experienced business leaders. With more than $300,000 in prizes available to be won, entrants will share their ideas as they are evaluated for their potential to become lucrative ventures worthy of investment.
“The BCIC-New Ventures Competition offers great incentive to innovative technology entrepreneurs, allowing them to really think through their business models, identify their product-market fit and take advantage of the advice and skills of serial entrepreneurs and mentors in the process,” said Greg Caws, CEO of BCIC. “I’m excited to be part of this 14th year of competition and encourage innovative technology entrepreneurs and companies to participate.”
Over six months, participants will meet with big thinkers in the technology industry and continue to build on their ideas and skills. The competition, a rigorous four-round process judged by a lineup of tech sector veterans, will see competitors take their ideas from inception to a final venture plan, all while vying to make it through to the finale and take the next step in their company’s evolution.
As a mainstay in BC’s technology community for more than a decade, the annual competition has seen winners go on to make waves in the technology sector. But you don’t have to be a winner to gain valuable insight – over 85% of participants at every stage have continued to apply the tools and learned skills to their other endeavors.
“While the competition is about picking the idea most likely to be commercially viable and supporting their climb to the top, it is also about creating the unique opportunity for all participating entrepreneurs to gain seasoned insight from those who blazed trails before them,” said New Ventures BC Program Manager, Angie Schick. “That is one of the most valuable parts of the process and something that startups will be hard pressed to find anywhere else.”
BCIC-New Ventures Competition alumni have generated over 3100 jobs for British Columbians and raised over 200 million dollars in investment financing. The level of sophistication in BC entrepreneurship has skyrocketed over the past decade and that is in part due to this competition as it continues to shape the province as a leader in technology.
2008 winner Saltworks Technologies is just one of many success stories. The company, rooted in a mission to desalinate seawater for drinking water, is currently focused on industrial water treatment – an $82-billion global market, and a pressing environmental concern. The BCIC-New Ventures Competition gave this company the boost they needed to turn their ideas into a reality. With major projects in the works, an expanding product line, and clients like the Canadian Navy and NASA, these motivated entrepreneurs have certainly made their mark.
Prizes for this year’s competition include:
- $107,000 BCIC First Prize
- $62,000 BCIC Second Prize
- $42,000 BCIC Third Prize
- $20,000 BC Resource Industry Prize
- $20,000 BC Bioenergy Network Prize
- $15,000 Vancity Social Venture Prize
- $35,000 Wavefront Wireless in-kind Prize
- Plug and Play Prize Package
Entrepreneurs are invited to enter their startup into the BCIC-New Ventures Competition beginning today, with applications due April 16, 2014 at midnight. To register in the competition or for more information regarding rules and eligibility requirements, visit www.newventuresbc.com.
Participants, and others who are looking to expand their business knowledge, are encouraged to attend the BCIC-New Ventures Competition seminars, which will take place in Vancouver at the SFU Segal Graduate School of Business beginning April 2, 2014.
About the BCIC-New Ventures Competition
The BCIC-New Ventures Competition supports BC’s emerging and dynamic technology industry. Established in 2001, the BCIC-New Ventures Competition is operated by the non-profit New Ventures BC Society and made possible through the generous support of BCIC, private and public sponsors, and volunteer mentors, speakers and judges.
About BCIC
BCIC encourages the development and application of advanced or innovative technologies to meet the needs of industry in BC. We accelerate technology commercialization by supporting startups and developing entrepreneurs. With our partners, BCIC delivers programs and initiatives that promote company growth, resulting in jobs, increased revenue and economic development in BC. BCIC is a Crown Agency of the Province of British Columbia.
For more information, please contact:
Elisha McCallum
Laura Balance Media Group
604.637.6647 (direct)
778.668.0185 (cell)
Elisha@LBMG.ca