Today's News

Vancouver, BC, October 5, 2021--(T-Net)--Traffic Driven has been crowned the winner of the 2021 New Ventures BC Competition, presented by Innovate BC.

The startup took home more than $110,000 in cash and prizes for the Innovate BC First Place Prize Package which includes:

• $80k cash @Innovate_BC
• $6k in-kind services from EY
• $9k legal support @FaskenLaw
• $10k video production @pushrvideo
• PR services from Switchboard PR

Traffic Driven is building an AI-powered auction platform that enables buying, selling, and trading cars. Their dealer-fueled online marketplace ensures trust for consumers and allows bricks and mortar dealers to compete with digital disruptors. Dealers now have an upgraded sales model and qualified in-market buyers.

In the first year of operation, Traffic Driven has accomplished numerous competitive goals, including:

• Contractually obligated nearly 20% of the new car dealers in BC, committing to pay Traffic Driven a sign up fee and monthly access fee pre-launch;
  
  
• Signed a strategic partnership in place with a Dealer Services Company with access to 6000 dealerships in North America actively selling their product pre-launch;
  
  
• Have a strategic partnership in place with one of Canada's leading insurance companies;
  
  
• Over-subscribed their pre-seed round of financing in less than 6 weeks;
  
  
• Entered e@UBC Phase3, skipping phases 1,2;
  
  
• Hired key technical talent in a challenging market. Currently the company has a full-time team of 10.

About the founders:

Mike Wood | CEO + Co-Founder

• Education: UBC 1994 + SFU Executive Management Program, 2008
• Fun Fact: 1st ever Canadian President of the National Vehicle Leasing Association in the USA

Mehrsa Raeiszadeh | COO + Co-Founder

• Education: PhD Process Engineering, Georgia Tech
• Fun Fact: Two national records, National Swim Team, Iran

Jin Lee | VP, Engineering

• Education: UBC, 1997
• Fun Fact: 3 Successful exits from a start-up as a core team member

Innovative fitness tech company Train Fitness, which offers an app for automatic exercise detection & rep counting (enabled using AI and your Apple Watch), won the Innovate BC Second Place Prize Package worth $60,000.

Cleantech startup company Moment Energy took home the 3rd place prize package worth $35,000. Moment is a cleantech company creating sustainable energy storage systems to increase energy reliability in off-grid areas. As one of the first North American companies with supply relationships with internationally recognized automakers including Nissan, Moment is on track to be a high-growth company with a first-movers advantage.

In addition to the top three prize packages, the final 10 companies also competed for four specialty prizes.

This year's winners of the NVBC other specialty awards included:

• BinBreeze: $10,000 Innovate BC Regional Startup Prize;

Win the Battle of the Compost with BinBreeze, an all-natural fruit fly repellent and food waste deodorizer. BinBreeze has developed an all-natural and non-toxic odour reducing composting powder. This is the founding product from Build A Better Earth, a sustainable technology social enterprise, dedicated to cultivating products, beliefs, and habits that help individuals 'build a better earth' for future generations.

• Rootd: Double Winner: $10,000 Innovate BC Social Venture Prize, and, $10,000 Innovate BC Woman-Led Venture Award;

Rootd has developed an app for individuals suffering from panic attacks and anxiety. It offers an engaging design, combined with interactive exercises, tools, and lessons focused on helping people manage panic and anxiety attacks as they occur, as well as a guided process (led by a frustrated blue monster named Ron) towards lifelong relief. Rootd is available worldwide on iPhone and Android.

• Sacromere Dynamics: $7,000 Luminaries Diamond-in-the-Rough Award

Sarcomere Dynamics is developing next generation robotic technologies for dexterous, strong, compact and light weight robotic hands. 

• AbCellera: NVBC Alumni Impact Award

Vancouver-based life sciences company Abcellera, a 2013 competition finalist, was recognized as the recipient of the first-ever NVBC Alumni Impact Award. This community-nominated prize is awarded to one Competition alumni that has made a significant economic, social, environmental, or community-based impact to BC's tech ecosystem.

About the Organizers

New Ventures BC

New Ventures BC (NVBC) was initiated 20 years ago to support early stage tech startups. As a non-profit, they run the annual New Ventures BC Competition, a Distance Venture Acceleration Program, and the ISI grant program. Visit New Ventures BC

Innovate BC

Innovate BC is a Crown agency with a mandate to help strengthen entrepreneurship development, increase company growth, and support job creation, ensuring the benefits of technology and innovation are felt around the province, including rural, northern, and indigenous communities. The Crown agency funds and delivers programs that support the growth of the B.C. economy by helping companies start and scale up into anchor companies, train talent that meets labour market needs, and encourage technology development, commercialization, and adoption. Visit Innovate BC