The Summit Finale marks the conclusion of a 10-week program aimed at coaching new angel investors in the Okanagan region and opening access to capital for local startups. This year, 35 investors have been reviewing, evaluating, and performing due diligence with the 45 companies that applied, and have narrowed down the list over the last month and a half.
“These 35 investors face a very difficult challenge in choosing a winner at this year’s summit,” said Thuy Tran, programs manager at Accelerate Okanagan. “All six finalists are strong candidates with varying business models but only one company will take home the $155,000 investment.”
The six companies competing for investment are:
- Taste Advisor: a tech company that delivers customer recommendation systems for the alcohol industry.
- Levity: a dating app that lets singles be set up by their friends, peers, and community.
- LivNao: passively collects data from smartphones to detect changes in mental health. The company was founded by Daniel Leung.
- Minga: the first platform to integrate day-to-day communication into one platform for educational institutions. The startup was founded by Jason Richards.
- WalletCard: a digital platform for effectively tracking and managing workplace safety & certification requirements for regulatory compliance. The startup was founded by Naveen Nand.
- Vinstream: aims to revolutionize membership management for the retail beverage industry. The company was founded by Tasha Da Silva.
Accelerate Okanagan will be hosting its OKGN Angel Summit on March 12, where it will hold its Summit Finale and feature Arlene Dickinson as keynote speaker. Dickinson is the managing partner of District Ventures and a judge on the CBC’s Dragons’ Den.
“There is so much value for companies in just going through the process. Even if you don’t leave with the big cheque, you are still winning,” Tran added. “Over the 10 weeks leading up to the finale, you will gain knowledge around the capital raising process, expand your network, [receive] valuable feedback, and build quality relationships with investors.”
In 2019, the inaugural OKGN Angel Summit raised a $130,000 fund. The organization said participating companies went on to secure $4 million in committed investments.
Image source Accelerate Okanagan