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Seattle Company Magicflix Awarded Top Prize at Cascadia Summit - Two BC Startup Tech Companies Take Runner-Up Positions
Wednesday, November 26, 2014Company Profile | Follow Company
Vancouver, BC, November 26, 2014--(T-Net)--Launch Academy announced Magicflix of Seatle as the overall winner of last week's Cascadia Summit, the official closing event of Startup Week Vancouver, with BC-based Optigo Networks and Control taking the two runner-up positions.
After receiving more than 100 applications from startups around Canada and the USA, 16 finalist companies presented to a panel of judges, including Dafina Toncheva from US Venture Partners, Sumeet Jain from Intel Capital, Bill Bryant from Draper Fisher Jurvetson, Alireza Masrour from Plug and Play Ventures, Mahendra Ramsinghani from Mod N Labs, and Frederic Lardinois from TechCrunch.
The top three selected startups will each receive a term sheet for $25,000 investment from Plug and Play Canada; an opportunity to spend time in Silicon Valley at the Plug and Play Tech Center to gain exposure, build their business and network with influential players in the technology industry.
The three selected finalists were:
Both Optigo Networks and Control are Vancouver-based companies and Magicflix is based in Seattle.
“We are thrilled to have had the opportunity to pitch and now to have been selected as a finalist is amazing - especially considering the tough competition”, said Pook-Ping Yao, CEO of Optigo Networks. “The whole event was a great experience and I was really impressed with the depth and quality of all the companies involved.”
“Congratulations to all the companies who were shortlisted to be part of the Cascadia pitch competition, including 12 from B.C.,” said Minister of Technology, Innovation and Citizens' Services Andrew Wilkinson. “The Cascadia Summit draws hundreds of people from across Western Canada and the U.S. and showcases our province as a great place for tech companies to grow and for industry leaders to invest.”
This Summit was the fifth Cascadia event for Launch Academy. Previous Cascadia winners have included Farm at Hand, Nanu Interactive, and BitLit, whom have all continued on to raise millions of dollars in funding.
About Launch Academy
Launch Academy is a pre-accelerator program that helps entrepreneurs execute on their startups through education, mentorship, lean metrics and networking opportunities. Launch Academy has established an environment where ideas are vetted, business models are tested and successes are celebrated.
About Boast Capital
Boast Capital is a team of engineers and finance professionals with over 20 years experience helping companies in Canada and the U.S. successfully claim and maximize R&D tax credits. For more information visit: http://boastcapital.com.
About Plug and Play
Plug and Play is a global startup incubator and seed-stage investor with a network that includes over 300 tech startups, 180 investors, and a community of leading Universities and Corporate partners. Since its inception in January 2006, Plug and Play has helped the startup community raise over $1 billion in venture funding, and has invested in 100+ companies including PayPal, Dropbox, Lending Club and Zoosk. For more information visit: http://plugandplaytechcenter.com.
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