B.C. startups in need of seed money are invited to enter the provincial New Ventures Competition, which is offering $325,000 in cash prizes for the most promising new companies.
The BC Innovation Council is accepting applications for its 12th annual regional New Ventures competition. The deadline to apply is April 17.
The competition is open to companies involved in the clean-tech, digital media, Internet, information technology, life sciences, social enterprise and agri-tech sectors. All B.C. residents or businesses with a technology-focused idea that have not yet secured significant financing from external investors are eligible.
In addition to cash, participants receive mentoring and high-profile exposure. Business in Vancouver has featured a number of New Ventures winners, including Polymer Research Technologies, which won last year’s New Ventures grand prize (see: “Polyurethane added to recycling pile” – issue 1166; February 28-March 5, 2012), and Pixton Comics, which recently won the $30,000 grand prize for the New Ventures regional competition (see: “B.C. company hoping for more than comic relief” – issue 1164, February 14-20, 2012).
More than 1,200 B.C. companies have participated in the six-month, five-round competition over the years. Past winners include Saltworks Technologies, Pulse Energy and Hiretheworld.com.
Competitors will be eligible for a:
- $100,000 first prize;
- $55,000 second;
- $35,000 third;
- $40,000 BC Hydro sustainability prize;
- $30,000 Shildroth Agritech Innovation first prize;
- $20,000 Shildroth Agritech Innovation second prize;
- $20,000 BC Bioenergy Network prize;
- $15,000 Vancity social venture prize;
- $10,000 Plug and Play prize.
