New Ventures BC Competition
BC, Canada
Compete for start-up cash and prizes in British Columbia
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|closingDateApril 11, 2024
- grant_single|grantStatusClosed
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Information and cultural industries
grant_single|grantors
- Government of British Columbia
- New Ventures BC
grant_single|status
grant_card_status|closed
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Compete for cash prizes up to $250,000, as well as education, mentorship, and networking opportunities to help launch your new venture.
grant_single_labels|projects
This competition is restricted to participants residing in British Columbia, Canada. The goal is to support and promote innovative technology ventures within this specific region.
- Companies, teams, or individuals residing in British Columbia (BC), Canada.
grant_single|admissibleProjectsExample
$150,000
Implementation of a blockchain-based supply chain tracking system
$190,000
Creation of a telehealth platform for mental health services
$110,000
Launch of a platform connecting local organic farmers with consumers in real-time
$130,000
Developing an AI-powered platform for small business financial management
$120,000
Development of a smart irrigation system tailored for urban gardens
$140,000
Development of an eco-friendly packaging solution from biodegradable materials
grant_single_labels|admissibility
Eligibility for this grant is determined by specific criteria for businesses and their operational status.
- Applicants must be BC residents, teams, or businesses.
- Applicants must be offering innovative technology products or services.
- Any technology type is eligible for the competition.
- Applicants must have raised less than $1,000,000 of non-grant funding from any source.
- Applicants must have been operational for less than 5 years.
- Incorporation is not required to apply.
- A $200 entry fee must be paid.
grant_eligibility_criteria|who_can_apply
BC residents, teams, or businesses that are developing innovative technology products or services are eligible to apply. The competition is open to any type of tech startup, provided they meet the following conditions: they have raised less than $1,000,000 in non-grant funding, are less than 5 years old, incorporation is not required, and they must pay a $200 entry fee.
grant_eligibility_criteria|who_cannot_apply
Based on the information provided, there are specific eligibility criteria for companies to qualify for this grant:
- BC residents, teams, or businesses
- Innovative technology product or services
- Any type of tech
- Raised less than $1,000,000 of non-grant funding from any source
- Less than 5 years old
- Incorporation not required
- Pay $200 entry fee
grant_eligibility_criteria|eligible_expenses
The grant competition focuses on innovative technology product or service startups, specifically targeting those with a high potential for growth and impact within the tech ecosystem. Eligible activities are designed to propel startups by providing educational growth, mentorship, networking, and feedback opportunities.
- Attendance at educational seminars and workshops to learn entrepreneurial skills.
- Participation in mentorship programs that offer pitch practice and feedback.
- Networking with fellow startups, mentors, and potential investors to foster connections.
- Submission of a business plan and pitch to receive expert feedback for improvement.
- Competing for cash and in-kind prizes tailored to advance their startup journey.
grant_eligibility_criteria|zone
Eligible applicants for this grant are companies based in British Columbia, Canada. The funding is specifically available to assist startups within the BC tech ecosystem.
- British Columbia
grant_single_labels|criteria
The New Ventures BC Competition has specific evaluation and selection criteria to determine the winners. The criteria include factors such as innovation, technology, funding status, age of the company, and incorporation requirements.
- BC residents, teams, or businesses
- Innovative technology product or services
- Any type of tech
- Raised less than $1,000,000 of non-grant funding from any source
- Less than 5 years old
- Incorporation not required
- Pay $200 entry fee
grant_single_labels|register
- Step 1: Registration and Application Submission
- Register for the competition before the Round 1 deadline by paying the $200 entry fee.
- Submit your registration and describe your business idea by April 11, 11:59 pm.
- Step 2: Feasibility Test Submission
- Prepare a 5-page document addressing specific questions about your business idea.
- Submit the feasibility test by May 1, 5:00 pm.
- Top 15 entries will automatically advance to the next round; 25 additional pitches may be invited for a chance to advance.
- Step 3: Pitch Preparation and Submission
- Participate in the Pitch Day on June 14.
- Pitch your business to a panel, where 10 companies will advance to Round 3 based on their presentations.
- Step 4: Venture Plan Development
- Work with a mentor team to develop an 8-page condensed venture plan.
- Submit the venture plan by July 31, 5:00 pm.
- Step 5: Final Pitch Presentation
- Prepare and deliver a final pitch on September 12 & 13.
- Present to a jury during the finae pitch event.
- Step 6: Await Results
- Wait for the announcement of winners at the Awards Ceremony in October.
grant_single_labels|otherInfo
Here are additional relevant details for this competition:
- The competition is a six-month program with four rounds, where participants can refine their business plans and pitches through structured stages.
- Participants will have the opportunity to receive mentorship if they reach the top 25, which includes pitch practice and feedback sessions.
- Networking opportunities are provided, allowing participants to engage with mentors, investors, and fellow startups within the tech ecosystem.
- Awards are available not only to the top three finalists but also for specific achievements such as regional impact, SaaS innovation, and women leadership.
- Complimentary access to the Innovate BC Venture Acceleration Program is included with cash prizes from Innovate BC, providing additional support and resources.
- The competition highlights ventures through various recognition awards, increasing visibility and potential investment interest.
Apply to this program
An Exciting Opportunity for Tech Startups in BC
The New Ventures BC Competition, presented by Innovate BC, offers startups in British Columbia a chance to win a share of $250,000 in cash and prizes, including mentorship and networking opportunities. This annual competition is a platform for technology-driven ventures to enhance their business strategies and gain recognition in the tech ecosystem.
Detailed Overview of the New Ventures BC Competition
The New Ventures BC Competition is more than just a contest; it's a comprehensive program designed to nurture early-stage technology startups in British Columbia. As participants engage in this six-month journey, they benefit from a structured environment that fosters learning, innovation, and collaboration. The competition is divided into multiple phases, each aimed at testing different aspects of business acumen and innovative potential.
The initial stages of the competition focus on education and community-building. Entrepreneurs are invited to participate in a series of workshops and seminars led by industry experts, which cover essential topics ranging from business development to strategic planning. This phase is instrumental in equipping startups with the foundational knowledge required to effectively navigate the competitive landscape of the tech industry.
As the competition progresses, the emphasis shifts towards practical application and feedback. Startups present their business ideas and receive constructive critiques from a panel of seasoned judges. This feedback loop is invaluable, as it helps companies refine their strategies and pitches, thus enhancing their overall market readiness. The opportunity to engage in pitch practice and receive real-world advice from mentors further prepares entrepreneurs for the challenges of scaling their businesses.
A key component of the New Ventures BC Competition is the extensive networking opportunity it provides. Participants have access to events where they can connect with fellow startups, investors, and potential partners. These interactions are crucial for building strategic alliances and gaining industry insights that can be pivotal for future success. The visibility gained through the competition also acts as a springboard for attracting investor interest and forming long-term partnerships.
The competition culminates in a grand finale where the top contenders present their pitches to a jury, competing for significant cash prizes and in-kind services. With rewards sponsored by Innovate BC and other notable organizations, these prizes are intended to give startups the resources needed to accelerate their growth. Winners also gain heightened recognition within the tech community, which can lead to enhanced brand visibility and new business opportunities.
Moreover, the competition places emphasis on diversity and impact. Special awards are set aside for ventures that demonstrate significant promise in areas such as greenhouse gas reduction, regional impact outside of Greater Vancouver, and female leadership in technology. These targeted awards underscore the competition's commitment to encouraging a diverse array of technological innovations that address pressing global challenges.
Overall, the New Ventures BC Competition is a cornerstone event for technology startups in British Columbia. It not only provides crucial funding and resources but also cultivates a thriving ecosystem where innovation is celebrated, and new ideas are brought to life. For tech entrepreneurs looking to make a mark, this competition represents an unparalleled opportunity to develop their business acumen, expand their networks, and propel their startups to new heights.
