The press release came out on April 1, but it’s no joke: the New Ventures BC competition has raised the stakes thanks to a new title sponsor, the British Columbia Innovation Council. BCIC’s Proof-of-Concept awards add $200,000 in award money, bringing the total to $335,000.

The prize breakdown is as follows:

BC Hydro First Prize: $60,000 in cash and services PLUS
BC Innovation Council Proof-of-Concept Award: $100,000

Enbridge Second prize: $38,000 in cash and services PLUS
BC Innovation Council Proof-of-Concept Award: $50,000

Third prize: $17,000 in cash and services PLUS
BC Innovation Council Proof-of-Concept Award: $50,000

BC Hydro Sustainability Prize: $20,000 cash

There’s still time to enter the competition; the deadline is April 23, 2008. Any BC resident who hasn’t received more than $500k in outside funding for their idea is eligible. You can either register online or call 604-725-5740.

The seminar series starts tonight and is open to both contest competitors and the public. It takes place at 6:30pm at the SFU Segal Graduate School of Business, 500 Granville Street. There will also be an online video stream viewable to anyone. Following seminars will happen weekly, each Wednesday evening.

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