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The NVBC process and mentors help even the most seasoned veterans elevate their game and really this hard about the business and strategy. In every case, we graduated from the competition a better, more viable company.
The competition added credibility to Loom. Being in the Top 15 from ~165 original companies definitely created traction for Loom, and has led to a new partner and investment. We’re really impressed by the organization and the structure of the competition.
Winning the NVBC top prize brought us recognition, exposure and validation. The news releases have generated tremendous interest for our technology in North America, as well as globally. We have been fortunate to absorb major investors for our commercialization phase.
It may sound cliché but, for us, the BCIC New Ventures Competition really was about the process, not the prizes. The real value I obtained was the insightful feedback on our business plan from our team of very smart, very experienced mentors and the judging panel.
We hoped for a good vetting of our business by a credible and well-regarded jury. The results exceeded our expectations. The insight provided by our mentors was instrumental in preparing and refining our presentation, while contributing to the development of our business.