New Ventures BC

  • Tessa Bousfield posted an article
    Victoria companies Cuboh and Open Ocean Robotics take home cash prizes. see more

    Source: newventuresbc.com

    The results are in: 2019 New Ventures BC Competition winners

    Cuboh takes home 3rd place prize of $35,000 and $10,000 Innovate BC Top Regional Startup prize package, and Open Ocean Robotics earns the $22,000 BC Resource Industry prize package!

    This year our 19th annual New Ventures BC Competition presented by Innovate BC was larger than ever before. They received a record-breaking number of applications – over 200 in fact and after six months of rigorous Competition, they are excited to announce that they have a winner.

    After edging out nine other finalists to collect this year’s $105,000 top prize, Vancouver video creation platform Lumen5 takes home top honours at our 2019 Competition.

    NiceJob, also of Vancouver, took home the $60,000 second-place prize for their reputation marketing application and Victoria-based Cuboh claimed the $35,000 third-place prize for their food order management solution last night at the competition’s 19 the annual awards ceremony.

    “Every year, I’m taken away by the strength of the companies in BC’s tech sector. The diversity of ventures in this year’s top 10 is a true representation of the creativity and innovation we see emerging from all corners of the province,” said Mike Volker, Board Chair of New Ventures BC.

    “We’re proud to be supporting the industry and are looking forward to seeing this group of companies grow and succeed in BC, Canada and beyond.”

    Powered by artificial intelligence (AI), Lumen5 is a powerful storytelling tool that helps businesses drive online engagement, turning blogs and content into compelling social video – in minutes. Almost 74% of internet traffic comes from video content, and Lumen5 is making it easier than ever for anyone to create engaging video content and build their online audience.

    In just two years, Lumen5 has grown into a multi-million dollar business with close to 300,000 users including brands like Forbes, The Economist, Translink and the Daily Hive – without raising any capital.

    This year’s competition attracted a record 200 companies developing innovative solutions in sectors including software, robotics, hardware, healthtech and cleantech. For almost two decades, the New Ventures BC Competition has awarded BC-based startups with over $250,000 in cash and prizes to grow their companies.

    The mentorship and education startups receive during the competition has contributed to the success stories of alumni including Aspect Biosystems, a Vancouver-based company 3D printing human tissue, and female-led intelligent dermatology company MetaOptima – standouts in BC’s thriving tech sector.

    Since its inception, the competition has helped 2,700 startups create over 3,800 jobs and raise over $380 million in financing.

    “The New Ventures BC competition once again showcased leading entrepreneurs who are developing ground-breaking innovations that have a tremendous impact on the way we live,” said Bruce Ralston, Minister of Jobs, Trade and Technology. “Congratulations to all the winners and nominees and to New Ventures BC and Innovate BC for supporting the next generation of high-tech innovators.”

    In addition to the top three prizes, the competition awards industry-specific prizes honour companies making a significant contribution to specific sectors or markets.

    This year’s winners are:

    • Spectrum (Vancouver, BC): $15,000 Vancity Social Venture prize package
    • Open Ocean Robotics (Victoria, BC): $22,000 BC Resource Industry prize package
    • Cuboh (Victoria, BC): $10,000 Innovate BC Top Regional Startup prize package
    • Plugzio (Coquitlam, BC): $6,000 BC Tech Association Growth Programs prize package
    • Beatdapp (Vancouver, BC): $2,500 People’s Choice Award

    The 19th annual New Ventures BC Competition is presented by Innovate BC, a crown agency helping innovators in all regions of the province launch their ideas and succeed in BC’s competitive tech sector.“Connecting regional communities to funding, resources and support is a big part of Innovate BC’s mandate and vision,” said Raghwa Gopal, President and CEO of Innovate BC. “New Ventures BC is uniquely positioned to support startups all over British Columbia, which is why we are thrilled to once again be the title sponsor of this competition.”

    About the organizers:

    About New Ventures BC

    New Ventures BC runs the annual New Ventures BC Competition, 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 and administers the Innovator Skills Initiative (ISI) Grant, offering tech companies up to $10,000 a year to hire a student. New Ventures BC is a non-profit organization that receives funding from both government and corporate sponsors.

    About Innovate BC

    Innovate BC is a one stop service centre to connect innovators — large and small — with B.C. government funding, resources and support. Innovate BC programs and initiatives serve and celebrate innovation in British Columbia, helping our industries grow, while ensuring the benefits of our thriving technology sector are felt by people in all regions of our province. Innovate BC is a Crown Agency of the Province of B.C.

    About the winning companies:

    Lumen5

    Lumen5 is a video creation platform designed to help brands and businesses drive online engagement. Using an algorithm and artificial intelligence to identify key messages and find relevant videos, photos and audio tracks in Lumen5’s media database, the platform makes it easy to create videos in minutes.

    NiceJob

    NiceJob helps businesses share customer testimonials by automating the collection of reviews and posting them to the company’s website to increase visibility. NiceJob’s reputation marketing platform ensures that businesses can raise awareness and drive sales without having to lift a finger.

    Cuboh

    Cuboh saves restaurants time and money by consolidating orders from third-party platforms like Skip the Dishes and DoorDash into one integrated app. By bringing all online orders into an integrated hub, restaurants can ditch the hassle of managing multiple food ordering apps and focus on providing a great customer experience.

    Spectrum

    Spectrum is making it easier for doctors to prescribe antibiotics. With easy-to-understand clinical guidelines loaded into the Spectrum app, doctors can input patient information and receive dosage recommendations tailored to the patient’s needs. Spectrum’s partner hospitals have seen up to 90% increases in accurate prescribing.

    Open Ocean Robotics

    Open Ocean Robotics has developed autonomous, wind and solar-powered boats to collect ocean data. Using sensors, cameras and real-time communications, the boats provide a safer, more effective and more affordable way to study the ocean. Open Ocean Robotics collects atmospheric and oceanic data, including air temperature, wind speed, water height and temperature, ocean currents and marine mammal acoustics.

    Plugzio

    Plugzio provides an easy, secure charging solution for electric and autonomous vehicles. The company has developed an outlet that only starts the flow of electricity once the user activates it through mobile phone. Once installed, it bills the user directly and the owner of the shared space gets paid. Electric vehicle owners get access to an affordable charging solution, while business owners can easily take advantage of a new revenue stream.

    Beatdapp

    Beatdapp has developed a custom blockchain application that tracks real-time audited play counts of a song across streaming services. With Beatdapp, music labels can accurately track the number of times a song is played on a streaming service, ensuring musicians are compensated fairly.

  • Tessa Bousfield posted an article
    The winners will be announced on September 19th see more

    Just 10 companies are still in the running for top prizes in this year’s New Ventures BC Competition, presented by Innovate BC, and Victoria's own Cuboh and Open Ocean Robotics have made the cut! Winners will be announced at the Awards on September 19th.

    Out of the 196 companies, 20% were from outside Metro Vancouver (3 in North Van, 9 in Thompson/OK, 4 in Kootenays, 22 on Vancouver Island). Out of the top 25 ventures, 5 were regional, although all on Vancouver Island - Kranked in Gibsons and 4 in Victoria: Cuboh, GT Water Machines, SpayVac, and Open Ocean Robotics.

    The top 10 ventures are pitching this week, and 3 are regional - Kranked, Cuboh, and Open Ocean Robotics. Also, while SpayVac did not make the top 10, they finished just outside and nearly made it in!

    The $2500 People's Choice Award voting is on now: https://www.newventuresbc.com/pca/

    2019 New Ventures BC Competition Top 10 Finalists:

    In alphabetical order

    Congratulations to all finalists!

    After receiving the judging scores, the New Ventures Competition BC Competition, presented by Innovate BC uses Octothorpe Software for judging analysis. See details here.

    Next Steps:
    In the fourth and final round, each team will pitch to a judging panel of entrepreneurs, venture capitalists and investors.

    The judges:

    • Natalie Dakers, CEO, Accel-Rx Health Accelerator
    • Andy Edelmeir, Braemar West Capital
    • Bruce Schmidt, Angel Investor
    • David Shore, Co-founder Moj.io Inc.
    • Geoff Catherwood, BDC
    • Jim Fletcher, Angel Investor
    •  Julien Sellgren, Angel Investor and past NVBC winner (Metalogix 2002)
    • Maria Pacella, PenderFund Capital Management
    • Meredith Powell, Venture Partner, Voyager Capital

    Want to see who wins $250,000 in cash and prizes? Be sure to register for the 19th Annual Competition Awardshappening on Thursday, Sept. 19 at the Imperial in Vancouver. Tickets are $5 for BC tech startups, but are limited – be sure to register early.

    This event is a part of Vancouver Startup Week for the fifth year in a row.

    [Tickets]

  • Tessa Bousfield posted an article
    Includes Cuboh who is one of the newest members to join VIATEC's Venture Acceleration Program! see more

    Source: NewVenturesBC.com

    The judges’ scores are in! Meet the eight companies moving on from Round 2.5 to join Round 3, following successful pitches before a jury. Congratulations to the companies that are moving on.

    Moving on to Round 3 (in alphabetical order)

    These companies will join the top 18 that had previously advanced directly into Round 3, including Cuboh who is one of the newest members to join VIATEC's Venture Acceleration Program!

    Additional Round 3 Competitors (in alphabetical order)

    In the next stage of the competition, ventures will be paired with a mentor team and create a condensed business plan.

  • Tessa Bousfield posted an article
    Round 2.5 and Round 3 ventures announced - New Ventures BC see more

    Source: NewVenturesBC.com

    Round 2.5 and Round 3 ventures announced - New Ventures BC

    The results are in! Our esteemed panel of judges have evaluated the Round 2 submissions. This year was extremely competitive, leaving us with 18 ventures moving directly into Round 3, and 27 ventures pitching in Round 2.5. To ensure fairness and accuracy, all scores were analyzed and normalized by Octothorpe software.

    Congratulations to all!

    Top 18 – advancing directly to Round 3 (in alphabetical order)

    Round 2.5 – placing 19-45 (in alphabetical order)

    What’s next?

    The top 18 companies advance directly to Round 3. The remaining 27 teams will enter Round 2.5, where they will pitch for a chance to advance. The top seven ventures from this pitch day will join Round 3, creating our Top 25!

    Round 2.5 pitches happen June 21. Our final Round 3 ventures will be announced on June 22.

    Good luck to all of the teams!

  • Tessa Bousfield posted an article
    The results of the study demonstrate that New Ventures BC is enabling significant impact in BC’s... see more

    New Ventures BC Impact Study Reveals Major Economic Results for Tech Sector

    Report shows that each dollar invested in programs delivers 5X back to province

    Vancouver, B.C. - New Ventures BC (NVBC), a not-for-profit organization that runs the annual BCIC-New Ventures Competition, is announcing today the results of its Direct Economic Impact study.

    “The results of the study demonstrate that New Ventures BC is enabling significant impact in BC’s growing tech ecosystem. The competition’s mandate is to recognize startups but also to help them succeed,” comments Mike Volker, Chair, New Ventures BC.

    “Over the last 17 years, past winners of the annual BCIC-New Ventures Competition have gone on to hire thousands of full time employees, raise millions of dollars, and create innovate technologies that help put BC on the map as a leader in technology.”

    According to the  impact study, New Ventures BC’s top placing startups in the 2010-2014 cohorts have generated:

    • $249 million in annual revenue

    • $149 million in provincial GDP

    • $80 million in payrolls

    In addition, the ventures generate an estimated $18 million in annual employee income taxes, with the Province receiving $6 million of these funds.

    The data shows that the return on investment for the province is significant: for every dollar of public funding spent to support New Ventures BC, the province of BC receives nearly five dollars back in tax revenue.

    Generating revenue and creating job growth for BC

    Among the ventures reaching the Top 25 from 2010-2014 in the competition, 79% have survived (as of 2016). This is significantly higher than the average 30-50% survival rate for startups after four or five years.

    Among the 90 surviving ventures (from 27 of 90 reporting):

    • 930 full time jobs were created, with an average of 10 full time positions per venture

    • $92 million was raised in financing, enabling companies expand operations

    Overall, competing startups rate the impact that NVBC had on their businesses as significant, assigning the non-profit an average rating of 8.2/10.

    “The [New Ventures BC] Competition was a turning point for the company. It forced us to think critically about our business model, and helped us build our network,” comments John Carter, Co-Founder, Vonigo, 2013 first prize winner. “The Competition helped us gain credibility and helped validate the business for investors, which was key to raising capital.”

    Positioning BC as a leading tech ecosystem

    British Columbia’s tech industry is strong and growing and continues to be a significant contributor to BC’s growing economy. Organizations such as New Ventures BC are contributing to the millions being generated and reinvested into the province each year. Since 2008, the BC Innovation Council, a Crown corporation has supported the Competition as its title sponsor.

    According to Profile of the British Columbia Technology Sector: 2016 Edition (BC Stats, 2017), in 2015, the tech sector:

    • Supported 100,000 jobs, comprising 4.9% of BC’s workforce

    • Contributed approximately 7% of BC’s GDP

    • Provided wages 75% higher than average, with greater annual increases than BC’s traditional sectors (25% vs. 10% from 2010-2015)

    • Contributed $18 million in annual employee income taxes

    Tech workers also benefit from continuous growth: employment has been steadily rising in this industry in BC for the past five years.

    Successful startups from the 2010-2014 cohort include MediaCore (acquired by Workday), Aspect Biosystems, DarkVision Technologies, Vonigo, Abcellera, and MetaOptima.

    Study analysis is provided by Angus Management,a specialized strategy, finance and corporate development consultancy practice, with statistical data collected by New Ventures BC, and analysis conducted by RocketBuilders, a management consulting firm providing sales and marketing services to help technology companies grow and prosper.

    View the report results here: http://www.newventuresbc.com/impact/

     

    -30- 

    About the BCIC-New Ventures Competition 

    New Ventures BC (NVBC)  is a not-for-profit that promotes entrepreneurship through innovation. NVBC runs the annual BCIC-New Ventures Competition, offering education, coaching, and $300,000+ in prizes to B.C. startups. The NVBC Venture Acceleration programs also provide training and mentorship for early-stage tech companies. Over the past 17 years NVBC competition winners have gone on to create 2700 jobs and raise $300+ million in financing. Learn more: newventuresbc.com  or find us on social: @nvbc

    For press inquiries or to request research study, contact:

    Brittany Whitmore
    Exvera Communications
    Brittany@Exvera.com
    778.238.6096

  • Tessa Bousfield posted an article
    Victoria-based Certn moves on to Round 3 of New Ventures BC Competition see more

    Victoria-based Certn moves on to Round 3 of New Ventures BC Competition

    The ventures have pitched and the judges’ scores are in! Here are the ten startups moving on from Round 2.5 to join Round 3 in our 2017 BCIC-New Ventures Competition. Congratulations to the ventures that are moving on.

    Moving on to Round 3 (in alphabetical order)

    1. Bellows roof anchor (1078955B.C)
    2. Certn (The first Victoria-based company to make it to the top 26!)
    3. CryoLogistics Refrigeration Technologies
    4. Cuprous Pharmaceuticals
    5. Cyberdontics
    6. InputHealth
    7. Slick Spaces Technologies
    8. TalentMarketplace
    9. Trellis Technologies
    10. Virtro Entertainment

    These companies will join the top 16 that had previously advanced directly into Round 3 (in alphabetical order). 

    In the next stage of the competition, ventures will be paired with a mentor team and create a condensed business plan.

  • Tessa Bousfield posted an article
    Three Victoria Companies make New Ventures BC Top 42 see more

    Over the past three weeks a panel of 54 jury members have been reviewing submissions from 138 ventures. The scores have been analyzed, and the results are in!

    The top 15 will advance directly to Round 3, while the remaining 27 Ventures will make a pitch to a jury on June 14th. Congrats to Victoria companies ChatterHigh, Integrated Tracking Technologies Inc. and LlamaZOO Interactive for making the cut!

    Top 15 – advance directly to Round 3 (in alphabetical order)

    1. Appfabriqa Creative
    2. CuePath Innovation
    3. Dooly.ai
    4. Iris Automation
    5. Jane Software
    6. Loom
    7. Mangrove Technologies
    8. Meatme.co
    9. Microdermics
    10. Riipen
    11. Sensible Building Science
    12. sidebuy.com
    13. Spare Labs
    14. VeloMetro Mobility
    15. VisualPing

    Round 2.5 – placing 16-42 (in alphabetical order)

    1. AVA Technologies
    2. Billie’s List Booking
    3. ChatterHigh Communications (Victoria company)
    4. Clarison Medical Corporation
    5. Copypants Creator Technologies
    6. eTrove Incorporated
    7. Head Check Health
    8. Insurecert Systems
    9. Integrated Tracking Technologies (Victoria company)
    10. Ionomr
    11. Lazymeal
    12. Leapfrog.bid
    13. LifeBooster
    14. LlamaZOO Interactive (Victoria company)
    15. Metrics LifeSciences
    16. Metronome Growth Systems
    17. Nourished Babe
    18. Novarc Technologies
    19. Ophthalight Digital Solutions
    20. Portable Electric
    21. Skaha Remote Sensing
    22. Starling Minds
    23. Switchboard
    24. TIPSO-NZTech
    25. Upward Solutions
    26. Voxiter Technologies Incorporated (Signl.fm)
    27. YodelTECH

    Companies will pitch on June 14th; 10 will move on to Round 3. Stay tuned for our Round 3 announcement on June 16th.