The New Ventures BC Competition, presented by Innovate BC, B.C.’s largest and longest running technology competition, is now accepting applications from innovative technology ventures from all corners of the province. For almost two decades, the competition’s proven mix of education, mentorship and feedback have laid the foundation for some of B.C.’s most promising tech ventures including Aspect Biosystems, Saltworks Technologies, Jane Software and Ecoation.
“The New Ventures BC Competition is recognized as a training ground for tech startups that are serious about getting their business ideas in front of experts,” said Angie Schick, Executive Director of New Ventures BC, in a news release. “The community the competition connects you to is invaluable. It provides the opportunity to interact with people who are truly interested in your business means you might meet your next sales hire, your next product expert or your next investor.”
The competition takes 150 new B.C. tech startups through a six month ‘startup bootcamp’, and offers the chance to emerge as one of B.C.’s most innovative startups and to take home a piece of $250,000 in cash and prizes.
“More important than the competition prize money is the engagement you receive from the talented volunteers who take the time to understand your vision, ask tough questions about your value proposition and provide helpful feedback on your go-to-market strategy and business model,” says Byron Thom, Principal of Vancouver’s Framework Venture Partners, who is also a long-time competition mentor, former competitor and investor.
Last year, 48 competition alumni were named to Rocketbuilder’s Ready to Rocket list which recognizes B.C. tech companies with the highest growth potential. According to Thom, this is not a coincidence. “The profile and recognition earned through the New Ventures BC Competition puts winners onto the radar of angel investors and lots of participating startups, whether winners or not, have gone on to raise significant rounds of financing from both local and international venture capital funds.”
B.C.’s tech sector is one of the fastest growing sectors of the province’s economy, supporting over 106,000 good paying jobs and home to more than 10,200 businesses. Since 2001, the New Ventures BC Competition has helped B.C. companies raise more than $300M in financing, generate $200M in revenues and create close to 4,000 new jobs.
“We’re extremely excited to once again be the title sponsor of the New Ventures BC Competition,” says Innovate BC’s President and CEO, Raghwa Gopal. “The companies who participate in this competition play a pivotal role in shaping our tech sector by strengthening our innovation economy, developing our talent pipeline and creating the jobs of tomorrow.”
The 2019 New Ventures BC Competition Prizes include:
- $105,000 Innovate BC first-prize package:
- $60,000 Innovate BC second-prize package:
- $35,000 Innovate BC third-prize package:
- $20,000 BC Resource Industry Prize Package
- $17,000 Vancity Social Venture Prize Package
- $10,000 Innovate BC Top Regional Start-up Prize:
- $6,000 BC Tech Association Growth Programs Prize Package:
The competition invites interested B.C. teams or businesses to a free seminar on March 27, and a networking event on April 3 prior to the online application deadline of 11:00PM PST on April 10, 2019.
New Ventures BC runs the annual New Ventures BC Competition, presented by Innovate BC, the largest and longest-running tech competition in BC, awarding $250,000 in cash and prizes to early-stage startups. The organization also offers a mentored, online Venture Acceleration Program focused on customer discovery and Market Validation Training. New Ventures BC is a non-profit organization that receives funding from both government and corporate sponsors. www.newventuresbc.com