Apply online: registration closes April 12 at 11:00 PM
March 29, VANCOUVER, B.C. – Headquartered in Vancouver, Canada’s recently top-ranked startup hub, the BCIC-New Ventures Competition is officially launching, right on the heels of the sold-out #BCTECH Summit.
Now in its 17th year, the BCIC-New Ventures Competition, with title Sponsor the BC Innovation Council is awarding over $300,000 in cash and prizes to top-placing startups, aimed at helping them scale-up at a critical time in their trajectory.
“Our Top 25 Ventures have a drastically improved success rate” comments New Ventures BC Program Director, Angie Schick. “After going through the competition process, we’ve found that 79% of our top ventures were still operational or were acquired five years later, which is well above industry estimates of 50% or less. We believe that the competition’s proven formula of business education, supportive mentorship, and feedback from our network has been instrumental in this process.”
“Through the #BCTECH Strategy, we are working to ensure B.C. has an environment where our tech entrepreneurs and companies can grow successfully. The BCIC-New Ventures Competition, with over $300,000 in cash and prizes to top-placing startups, is helping tech companies get to the next level,” said Amrik Virk, Minister of Technology, Innovation and Citizens’ Services. “In fact, just this month, Vancouver was ranked the top business ecosystem in Canada – and 15th globally – for technology startups; clearly our efforts are collectively making a difference.”
Four stages of elimination to refine the venture plan
The competition, consisting of four increasingly complex rounds of elimination, kicks off on April 12. Throughout the process, participants will work through challenges such as a feasibility test, condensed venture plan, and a pitch to an esteemed panel of jurors. As education is a cornerstone of the journey, startups are also encouraged to attend numerous business seminars and networking events. The competition wraps up with an awards ceremony to reveal the winners on Sept. 25.
“We’re thrilled to be the lead partner and primary sponsor of the BCIC-New Ventures Competition,” said Carl Anderson, President & CEO, BC Innovation Council. “This competition is one of the ways we help accelerate the growth of startups that create jobs and economic growth in British Columbia.”
Each year, the recognition earned via the competition puts winners onto the radar of Angel investors as business to watch. 2016’s top winner, Microdermics, closed a $1,000,000 seed round.
Startups: Register by April 12, 2017
Entries for the competition are open to early-stage BC technology companies. Registration closes April 12, 2017, 11pm. Register or learn more about eligibility.
About the BCIC-New Ventures Competition
New Ventures B.C. (NVBC) is a not-for-profit that promotes entrepreneurship through innovation. NVBC runs the annual BCIC-New Ventures Competition, offering education, coaching, and $300,000+ in prizes to B.C. startups. The NVBC Venture Acceleration programs also provide training and mentorship for early-stage tech companies. Learn more: http://www.newventuresbc.com
About the BC Innovation Council
The BC Innovation Council, a Crown agency of the Province of B.C., accelerates the growth and success of B.C. companies by providing resources and market opportunities for applied innovations that solve challenges and drive competitiveness in B.C. industries. Through the annual #BCTECH Summit and support of the B.C. government’s #BCTECH Strategy, BC Innovation Council is fostering the growth of companies that generate revenue, produce high-paying skilled jobs and drive economic development in B.C.
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