The following blog post was written by Lindsay Thom and was published on BCIC’s blog last week as part of a series profiling BCIC-NewVentures Competition: Regional Top 20 Finalists.
A22 Rent-A-Bike, of Victoria, is one of 20 finalists in the BCIC-New Ventures Competition: Regional vying for one of three cash prizes worth a total $60,000. As title sponsor of the first annual regional version of the Competition, BCIC is strengthening BC’s startup environment while supporting the advancement of BC’s emerging technology industry.
A22 Rent-A-Bike offers Victoria visitors and residents another way to travel through the city. Riders can rent and then return a bike at any of A22’s un-manned rental stations located around the city. This business model has proven successful in Europe and eastern Canada.
“You can never have enough practice pitching your idea,” said Sonia Germain, co-founder of A22 Rent-A-Bike and an MBA student at the University of Victoria. “This competition has allowed us to perfect our pitch. The judges’ comments have been very valuable for us as they have raised aspects of our business that we need to explore further.”
To win the competition Germain’s team will have to convince BCIC-NVC judges that the business is commercially viable.
Winners of the BCIC-NVC: Regional will be announced on February 24, 2011 in Kelowna.