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New Ventures BC Competition for 2010

April 19th, 2010 12:00pm
Provincial Events
Provincial


Invest $200 in your technology business idea and learn how to develop it into a profitable company. New Ventures BC is one of North America’s largest technology business-idea competitions.
It’s like a boot camp for business start-ups.
  • Learn from some of B.C’s best business experts at our business-education seminars
  • Network with top professionals in business, law, finance, government and academia
  • Improve your business and strategies during each round of competition
  • Receive advice and insight from mentors In Round 3
  • Present your condensed business plan to a panel of ‘angel’ investors, venture capitalists and industry experts in Round 4
Plus, competition winners will share $300,000 in prize packages.
 
New Ventures BC is open to any B.C. resident, team or business with an innovative technology product or service that has not yet secured significant financing from external investors (i.e. investors other than friends, family and company founders).
 
The $200 fee covers all of the New Ventures BC business-education seminars and networking events – plus entry in the competition.
 
Seminars begin March 2 around the province and on April 6 in Vancouver. The competition closes to entries on April 19, 2010.
 

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What is it? A  four-round technology business competition for early-stage BC entrepreneurs. It features nice business-education seminars, networking, mentoring and $300,000 in cash and prizes
 
Round 1: Submit an on-line overview of your idea, attend business eminars and make valuable networking contacts.
 
Round 2: Create a five page business plan outline to convince the hury that your business idea is feasible. Judges will advance the best 15 business ideas to round three. Twenty-five more cmpetitiors will be paired with a mentor to prepare for an oral presentation before judges.  Of these, 10 will be selected to continue on to round three.
 
Round 3: The 25 selected competitors will develop an eight-page executive summary and attend exclusive workshops. Assigned mentors will guide you through the process.
 
Round 4: Just 10 selected finalists will present their business plans before a jury of venture capitalists, angels and financiers. The jury will award $300, 000 in prizes to winners whose business proposals indicate a viable company with a bright future.
 
The New Ventures BC Competition supports B.C.'s emerging technology industry. It is operated by the non-profit BC Ventures Society and sponsored by both the public and private sectors.
 
Who Can Enter? A B.C person, team or business with a technology-focused idea related to biotech, wireless, cleantech, software, forestry and more. Entry fee is $200 per team and includes access to all seminars and networking events.
 
The business idea is eligible if:
  • It is an innovative product or service involving a new technology
  • it is B.C based, privately held and incorporated for five years or less
  • it has reaised less than 500, 000 of equity financing from external private investors
  • not a service based consulting business, unless entering the competition to commercialize new intellectual property utilizing a product-based business model
  • the idea is registered in the competition by April 19th, 2010

What Kind of Idea are they looking for? Last years winners included two new medical technologies, a solar power technology, 'green' roofing and siding materials, and a technology for converting pulp mill waste into synthetic crude oil.
 

 

 

 

 

 

 

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