VANCOUVER, BRITISH COLUMBIA- Catapulting into its 15th year, the annual British Columbia Innovation Council (BCIC)-New Ventures Competition is challenging BC’s top emerging tech entrepreneurs to bring their big ideas to the table. In hopes of transforming early stage innovations into lucrative ventures, competing companies will be given valuable exposure, receive mentorship from experienced business leaders, and a chance at nearly $300,000 in cash and prizes.
“The BCIC-New Ventures competition gives the entrants access to education, funding and a robust mentorship program that is unparalleled in any other startup competition in BC,” said New Ventures BC Program Manager, Angie Schick. “I’m excited to see the ideas this year’s technology entrepreneurs present and to kick start their journey.”
As the biggest technology startup competition in BC’s technology community for the past 15 years, the BCIC-New Ventures Competition continues to put the up and coming provincial technology startups in the spotlight. Rocket Builders’ 13th annual Ready to Rocket lists, an annual compilation of fast-growing BC companies on track for significant venture capital investment or acquisition, featured 34 competition alumni.
2012 winner MediaCore is one of many success stories shaking up the Information and Communications Technology space. The Victoria-based digital video company was recognized as one of the World’s Top 10 Most Innovative Companies in Digital Video by Fast Company in 2013 and recently closed $4.5 million in Series A financing led by Vanedge Capital last month.
“The BCIC-New Ventures Competition is a proven program making a notable impact on B.C.’s tech community,” said Technology, Innovation and Citizens’ Services Minister Amrik Virk. “The government is pleased to support programs like this which give rise to new companies, foster more savvy entrepreneurs and contribute to a strong and diverse economy through jobs and investments across all sectors.”
Over six months, participants will meet with entrepreneurs, mentors, and investors in the technology industry to build on their ideas, business models, and refine their product-market fit. The competition, a rigorous four-round process judged by a lineup of tech sector veterans, will see competitors take their ideas from inception to venture plan, all while vying to make it to the finale.
It’s not just the winners who gain valuable insight – the vast majority of participants apply the skills they gain during the competition to build and grow their own successful business ventures. BCIC-New Ventures Competition alumni have generated over 3,300 jobs for British Columbians and raised over $200 million in investment financing since 2001. The level of sophistication in BC entrepreneurship has grown over the past decade and that is in part due to this competition.
Prizes for this year’s competition include:
- $100,000 BCIC First Prize Package
- $55,000 BCIC Second Prize Package
- $37,000 BCIC Third Prize Package
- $29,000 Wavefront Wireless in-kind Prize
- $24,600 BCTIA Centre4Growth Accelerator Program in-kind Prize
- $20,000 BC Bioenergy Network Prize*
- $16,500 Vancity Social Venture Prize Package
- $10,000 City Innovation Prize
- Plug and Play Prize Package
*Funding to be confirmed
Entrepreneurs are invited to enter their startup into the BCIC-New Ventures Competition until the application deadline of 11.59pm, April 14, 2015. To register in the competition or for more information regarding rules and eligibility requirements, visit www.newventuresbc.com.
Participants, and others who are looking to expand their business knowledge, are encouraged to attend the BCIC-New Ventures Competition seminars, which will take place weekly in Vancouver from now until May.
About the BCIC-New Ventures Competition
The BCIC-New Ventures Competition supports BC’s emerging and dynamic technology industry. Established in 2001, the BCIC-New Ventures Competition is operated by the non-profit New Ventures BC Society and made possible through the generous support of BCIC, private and public sponsors, and volunteer mentors, speakers and judges.