Recap: TEC VenturePrize 2014

Local entrepreneurs were celebrated tonight at the 12th annual TEC VenturePrize awards celebration in Hall D at the Shaw Conference Centre. More than $200,000 in prizes were handed out to the nine finalists across three competitions!

TEC VenturePrize 2014

Here’s what VenturePrize is all about:

“You have a business idea, but don’t necessarily have the business training to launch your company. The more you brainstorm about transforming your vision into a venture, the more questions you have. What are the legal issues with creating a company? Where is the financing going to come from? Am I targeting the right market? Find out by participating in the TEC VenturePrize business plan competition.”

It’s a great opportunity for participants to make connections with investors and other entrepreneurs, to learn more about what it takes to run a business, and to gain valuable insight from experienced mentors.

TEC VenturePrize 2014

Our host for the evening was Ryan Jespersen from BT Edmonton. Premier Dave Hancock opened the event bringing greetings on behalf of the Province, followed by TEC Edmonton CEO Chris Lumb who brought opening remarks and also presented the Recognition Award to Bob Teskey. His acceptance speech was about twelve seconds long, which helped to contribute to a timely program that finished slightly ahead of schedule.

“Bob envisioned and designed the TEC Edmonton structure: an unincorporated Joint Venture to create strong commitment among Joint Venture partners, enable the University and City ti work together in unique ways, and build linkages between university and community.

This award is presented in recognition of Bob’s role in growing a strong Edmonton, through his outstanding ability to forge institutional partnerships.”

Mayor Iveson was the next speaker. He talked about the changing energy in Edmonton, and said “it’s getting easier to make an idea reality in this city.” Mayor Iveson stayed on stage to help interview the three student competition finalists: AlieoGames, Livi Design, and Smart Count Health. All three were from the University of Alberta!

TEC VenturePrize 2014

This year TELUS came on board to sponsor the first ever ICT Competition at VenturePrize. We heard pitches from the three finalists: It’s Date Night, MyMenu, and Zayfti. You can learn more about each one at TEC Edmonton. Given the ridiculous state of online restaurant menus, I really hope that Edmonton-based MyMenu is successful in its quest to help diners with dietary restrictions. It’ll be tough to get restaurants to upload menus though when so many don’t even keep their own sites up-to-date!

TEC VenturePrize 2014

Since 2002, the Fast Growth competition has awarded more than $1.5 million to Alberta-based entrepreneurs to help them grow their companies, an impressive number of which are still operating! The finalists in this year’s competition were:

Belgravia Tech Inc.

“BTI has created a safe, reliable, and cost effective alternative to a nuclear reactor-generated medical isotope vital for timely diagnosis and management of patient treatment for many major health issues, including cancer and heart problems. BTI’s unique technology is well positioned to fill this critical need and provide healthcare organizations with the means to offer quality care for heart and cancer patients worldwide.”

Localize Services Inc.

“Localize in an Edmonton-based company that helps tell the stories behind the foods we all love. Their unique grocery-shelf labeling service rapidly collects and conveys product information to consumers, making it easy for grocers anywhere to launch local, regional, and domestic food campaigns in their stores. These smartphone-enabled tags and unique “Localize scores” empower shoppers to quickly learn the who, what, where, and how behind thousands of products on grocery shelves across Canada.”

Tactalis

“Tactalis develops amazing tactile tablet computer systems that help people who are blind or visually impaired to explore, create and share images and digital media that they cannot see. Each of their award winning products has a unique touch sensitive interface and embedded tactile display that lets users touch and feel physical representations of features, symbols and graphics on an LCD screen.”

All very interesting companies with great elevator pitches! I think the work that Localize is doing is really important and they delivered a really clear message to the audience this evening. Tactalis has such an interesting product – think of it like braille for the digital era. I can see a huge market for what they’re doing!

TEC VenturePrize 2014

Up next was the keynote speaker, Dianne Buckner. She spoke about the art of the pitch, giving the judges an opportunity to leave the room to make their final deliberations. As the host of CBC’s Dragon’s Den and as a member of the Business Team at CBC News, Dianne knows a thing or two about pitching. Her advice tonight? Do tell a story, don’t let a “dragon” discourage you, do align your goals with those of the person you’re pitching, and don’t be afraid to talk about your weaknesses. She also said to keep in mind that the first thing you’re pitching is always yourself – if they aren’t interested in you or don’t think you’re competent, why would they be interested in your product or service?

TEC VenturePrize 2014

Finally, it was time to find out the winners!

Edmonton Journal People’s Choice Award
Localize Services Inc., with 59.5% of the vote

TEC VenturePrize Student Business Plan Award
AlieoGames

VenturePrize TELUS Information & Communication Technology Award
MyMenu

TEC VenturePrize Fast Growth Grand Prize Award
Localize Services Inc.

It was a big night for Startup Edmonton, as all of the winners and many of the finalists had a connection in some form or another to the organization. It’s great to see the continued positive momentum behind entrepreneurship in Edmonton!

TEC VenturePrize 2014

Congratulations to Localize and to all of the participants, finalists, and winners! Thanks to TEC Edmonton for providing me with a seat tonight to capture the action. You can see more photos from the evening here.