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BCIC New Ventures BC Releases List of Companies Moving On to Round II of NVBC 2016
Thursday, May 5, 2016Company Profile | Follow Company
Vancouver, BC, May 5, 2016--(T-Net)--The BCIC-New Ventures BC competition announced recently that they received over 165 entries for the 2016 New Ventures BC competition, and have now whittled the original list down to 153 companies which are moving on to Round II.
Each venture will be vying for over $300,000 in cash and prizes in #NVBC2016 and this year's companies span a wide range in tech. Software and IT make up about 50% of this year's entrants. The other half of the ventures represent Clean Tech, Life Sciences, Agritech, Bioenergy, and others.
Many of this year's ventures have been through BC accelerators, including e@UBC, Launch Academy, BCTIA, Spring, Venture Labs, and Wavefront, according to the organization.
ROUND 2 COMPETITORS
Here is the official list of Round 2 Competitors for New Ventures BC 2016.
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Note: The field will next be narrowed from 151 to 40 for Round 2.5, and then judges will choose the 15 best ideas to advance directly to Round 3.
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(Round II Competitors, in alphabetical order)
40 COMPANIES MOVE ON TO ROUND 2.5
In Round 2, the judges will be assessing the fitness of each venture's business idea. Competitors will be asked to create a Business Model Canvas, and answer specific questions about their company's market, distribution, competition, and revenue model.
Judges will choose the 15 best ideas to advance directly to Round 3.
An additional 25 competitors will be paired with a mentor for further coaching, and will move on to Round 2.5. Each company in round 2.5 will prepare a presentation to be made before a jury. Ten of these 25 will be selected to move on, making a total of 25 competitors in Round 3.
About New Ventures BC
Founded in 2000, the non-profit New Ventures BC Society administers and operates the annual BCIC-New Ventures competition which gives early-stage B.C. innovators and entrepreneurs in tech access to technology leaders, business education and $300,000 in prizes. This is made possible through generous support from the public and private sectors, including title partner BCIC.
The mandate for the New Ventures BC Society is to recognize, encourage, and develop entrepreneurship and innovation in B.C.'s start-up technology sector. Each year, more than 150 B.C. business leaders—entrepreneurs, venture capitalists, angel investors, academics and professionals—donate their time and expertise as mentors and judges.
To date, more than 1,400 aspiring B.C. entrepreneurs have entered the competition, with 36 winning major prize packages. Most winners have continued on to form viable companies, raising more than $100 million in financing and creating more than 600 jobs for British Columbians. However, it's not only the winners of the competition who go on to success. Many finalists and round-three competitors use the skills they have learned in the competition to commercialize their business ideas.
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