The annual British Columbia Innovation Council New Ventures Competition is back for its 14th year and is seeking emerging BC entrepreneurs ready to take their technology startup “to new heights.”
Companies in the early stages of innovation and business development will be given valuable exposure and the chance to receive mentorship from experienced business leaders. With more than $300,000 in prizes available to be won, entrants will share their ideas as they are evaluated for their potential to become lucrative ventures worthy of investment.
“The BCIC-New Ventures Competition offers great incentive to innovative technology entrepreneurs, allowing them to really think through their business models, identify their product-market fit and take advantage of the advice and skills of serial entrepreneurs and mentors in the process,” explains Greg Caws, CEO of BCIC.
Over six months, participants will meet with thinkers in the technology industry and continue to build on their ideas and skills. The competition, a four-round process judged by a lineup of tech sector veterans, will see competitors take their ideas from inception to a final venture plan. But startups don’t have to win to gain valuable insight; 85% of participants at every stage have continued to apply the tools and learned skills to their other endeavors.
“While the competition is about picking the idea most likely to be commercially viable and supporting their climb to the top, it is also about creating the unique opportunity for all participating entrepreneurs to gain seasoned insight from those who blazed trails before them,” noted New Ventures BC program manager Angie Schick. “That is one of the most valuable parts of the process and something that startups will be hard pressed to find anywhere else.”
BCIC-New Ventures Competition alumni have created 3,100 jobs for British Columbians and raised $200 million dollars in investment financing. The level of sophistication in BC entrepreneurship has skyrocketed over the past decade and that is in part due to this competition as it continues to shape the province as a leader in technology.