Does your B.C. tech startup have what it takes to win? This contest offers $250,000 in cash and prizes

The deadline to enter the 22nd annual New Ventures BC competition is April 11.

Credit: New Ventures BC. The 2021 New Ventures BC Competition finalists with representatives of New Ventures BC and Innovate BC

The deadline to enter the 22nd annual New Ventures BC Competition is April 11

As the saying goes, nothing ventured, nothing gained. If your tech startup needs financing and other support to get to the next level, don’t miss the fast-approaching deadline for the 2022 edition of the New Ventures BC Competition.

Here’s how the annual contest works. In three rounds taking place over six months, more than 200 early-stage companies vie for a chance to win $250,000 in cash and prizes. To participate in the competition run by nonprofit New Ventures BC, startups must be based in the province and have raised less than $1 million in capital. Crown agency Innovate BC, which presents the awards, will announce the winners at a live ceremony in October.

It’s not just about the win—participants also gain access to online seminars, networking opportunities, mentorship and feedback. Now in its 22nd year, the New Ventures BC Competition has supported 3,000-plus businesses since it kicked off in 2000. Its top companies have created some 8,600 jobs and raised more than $1 billion in financing. 

Besides three main prizes, the competition offers several specialty awards. “Last year, we launched important new prizes to recognize impressive alumni and women-led ventures,” said Angie Schick, executive director of New Ventures BC, in a release. “Building on that, we’re excited this year to launch the Innovate BC $10,000 sustainability prize, to help support a greener future.”  

The 10 finalists for the top three prizes will pitch their startup to the jury in person. Since being crowned winners in 2021, MintList (Traffic Driven), Train Fitness and Moment Energy have raised a combined $6.5 million in seed and pre-seed funding. Last year’s Alumni Impact Award winner was AbCellera Biologics, developer of an antibody therapy for COVID-19, which took second place back in 2013.

READ MORE: Veteran venture capitalist Wal van Lierop shares his advice on building a tech startup and pitching investors

“Entrepreneurs should not miss out on this incredible competition that provides the province’s top startups with the hands-on support they need to build great companies in communities across B.C.,” said Raghwa Gopal, president and CEO of Innovate BC. “We are extremely proud to continue to be the title sponsor of this initiative that, for more than 20 years, has helped shape some of B.C.’s most successful companies that are creating innovative tech solutions all around the province.”

The deadline for entering the New Ventures BC Competition is April 11. To apply, click here.