2024 New Ventures BC Competition Now Accepting Applications

New Ventures BC's 2024 competition presents a valuable opportunity for early-stage startups based in British Columbia to showcase their innovative ideas and compete for recognition as the province's top tech startup. With a rich history spanning 24 years, the competition offers participating startups access to a wide array of resources and support mechanisms designed to foster their growth and success.

Throughout the six-month competition period, startups will benefit from engaging in-person events, tailored mentorship programs, educational workshops, and networking opportunities within a vibrant community of peers. These resources are instrumental in helping startups refine their strategies, enhance their business acumen, and gain valuable insights from experienced mentors and industry experts.Eligible startups must be BC-based tech businesses that meet specific criteria, including raising less than $1 million in funding and being less than five years old.

This inclusive approach ensures that startups at various stages of development have the chance to participate and gain valuable exposure, regardless of their size or funding level.By participating in the competition, startups can gain visibility, credibility, and access to potential investors, partners, and customers. Moreover, the collaborative environment fostered by New Ventures BC provides startups with a supportive ecosystem where they can exchange ideas, learn from each other's experiences, and collectively contribute to the growth and innovation of BC's tech sector.

Overall, the New Ventures BC competition serves as a catalyst for driving entrepreneurship, innovation, and economic development within British Columbia's tech ecosystem. It empowers startups to turn their vision into reality, accelerate their growth trajectory, and make meaningful contributions to the province's vibrant tech community. Startups interested in participating are encouraged to submit their applications and seize this exciting opportunity to propel their ventures to new heights.

The New Ventures BC Competition has a rich history of supporting early-stage tech ventures in British Columbia, having awarded $4 million in cash and prizes since its inception. With over 3,500 startups having participated in the competition over the years, it has become a cornerstone of the province's entrepreneurial ecosystem, providing invaluable support and resources to emerging tech innovators.

The competition's prize pool includes substantial cash awards, with $110,000 awarded to the first-place winner, $60,000 to the second-place winner, and $35,000 to the third-place winner. Additionally, there are $40,000 in additional prizes available, further incentivizing participation and rewarding innovation.

In the previous year, 212 startups entered the competition, with notable winners including RetreatsandVenues, Browse AI, and Blanka, all based in British Columbia. Past competition alumni such as AbCellera, Moment Energy, and Flash Forest have gone on to achieve remarkable success, further highlighting the impact of the competition in nurturing tech talent and fostering growth within the region's startup ecosystem.Founded in 2000 by venture capitalist Wal van Lierop, New Ventures BC was established with the mission of equipping early-stage tech venture founders in British Columbia with essential business skills, industry connections, networking opportunities, and media exposure.

Over the years, it has evolved into a premier platform for aspiring entrepreneurs to transform their ideas into successful businesses and contribute to the dynamic landscape of BC's tech industry.New Ventures BC's impact extends beyond its flagship annual startup competition, as it also offers comprehensive accelerator programming, educational resources, and intellectual property support through AccelerateIP.The accelerator programs provided by New Ventures BC equip startups with the skills, tools, and guidance necessary to accelerate their growth and navigate the challenges of scaling their businesses.

These programs offer invaluable mentorship, networking opportunities, and access to industry experts, helping startups refine their strategies, secure funding, and achieve their growth objectives.In addition to accelerator programming, New Ventures BC provides a wealth of educational resources designed to empower entrepreneurs with the knowledge and insights needed to succeed in the competitive tech landscape. From workshops and seminars to online courses and one-on-one coaching, these resources cover a wide range of topics essential for startup success, including business development, marketing, finance, and leadership.

Furthermore, through its AccelerateIP initiative, New Ventures BC offers intellectual property support to startups, helping them navigate the complexities of IP protection, licensing, and commercialization. This service plays a crucial role in safeguarding the innovative ideas and technologies developed by startups, enabling them to capitalize on their intellectual assets and maintain a competitive edge in the market.

Executive Director Angie Schick expressed enthusiasm about the upcoming competition, emphasizing its role as a platform for startups to gain visibility, establish partnerships, and access the resources needed to thrive. As the competition unfolds over the next six months, New Ventures BC remains committed to supporting and empowering the next generation of talented startups on their entrepreneurial journey.

The New Ventures BC Competition has set April 11 as the deadline for applications for the first round. After this deadline, participating startups will undergo a sprint period to fine-tune their submissions for the second round, which will take place in May. Finally, the winners will be announced during an award ceremony scheduled for October, following four rounds of successive pitches.