About the BCIC New Ventures Competition | Innovation Central SocietyThe BCIC-New Ventures competition was founded in 2000 under the direction of Wal van Lierop as a means of recognizing and encouraging entrepreneurship in B.C.’s technology sector. The first board included representation from both public and private organizations, and many of the founding organizations and key individuals from the original group have provided continuous support to the competition.
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.
The NVBC Competition | Innovation Central Society
Round 1: The IdeaParticipants register in the competition and describe their idea.
Round 2: Feasability TestParticipants submit a five-page response to specific questions about their business idea. Judges will choose the 15 best ideas to advance to Round 3. An additional 25 competitors will be paired with a mentor to prepare a presentation before the jury. Ten will be selected to move on to Round 3.
Round 3: Condensed Venture PlanParticipants are paired with a mentor who helps them expand their idea into a condensed business plan—an eight-page response to specific questions.
Ten competitors will advance to Round 4
Round 4: FinaleTen finalists will make oral presentations to the jury. Judges will then select winners for all the prize packages.
All winners are unveiled at the Annual BCIC - New Venture Competition Awards Ceremony
More Information | Innovation Central SocietyVisit the BCIC New Ventures Competition website for complete information about the competition and how to get involved.