Startup competition winners generate money for the province

Credit: NVBC on Twitter

This year’s first-place winner, Ecoation Innovative Solutions Inc.

Winners of the BCIC-New Ventures Competition from 2010 to 2014 have contributed $149 million to provincial GDP

Those looking to get in on the ground floor of some up-and-coming companies might want to keep an eye on the BCIC-New Ventures Competition. That’s because past winners of the awards bestowed by non-profit New Ventures BC have churned out money—for themselves and the province.

The top 25 companies from 2010 to 2014 have posted $249 million in annual revenue, according to a study from NVBC. They’re also paying $80 million in salaries and generating $18 million in annual employee income taxes, $6 million of which goes directly to provincial coffers.

NVBC has given early-stage ventures a platform since 2000. On average, 150 startups compete each year for the chance to win a total of $300,000 in cash and other prizes.

The competition honours nine winners each year. Notable names from 2010 to 2014 include Aspect Biosystems Ltd., DarkVision Technologies Inc.Vonigo Software Ltd.AbCellera Biologics Inc. and MetaOptima Technology Inc.