A trio of Vancouver-based companies have finished top three at New Ventures BC’s 21st annual tech startup competition, beating out a pool of over 200 competitors.
TrafficDriven Technologies has taken home the $110,000 first prize package for its artificial intelligence (AI)-powered, dealer-fuelled auction platform for buying, selling, and trading cars.
TrafficDriven Technologies has taken home the $110,000 first prize package for its AI-powered vehicle auction platform.
Train Fitness, which offers a wearable workout tracker capable of automatically detecting sets and reps during strength-based workouts, finished second, securing $60,000. Cleantech startup Moment Energy rounded out the top three, scoring $35,000 for its sustainable energy storage solution, which repurposes retired electric vehicle (EV) batteries.
The winners were announced during a hybrid ceremony at Roundhouse Community Centre in downtown Vancouver that took place Monday evening, where a total over $250,000 in cash and prizes were awarded.
“Whether it’s leveraging AI to connect companies to capital or repurposing EV batteries to enable a circular economy, BC startups are positively changing the way we live, work, and play in a post-pandemic world,” said Angie Schick, executive director of New Ventures BC (NVBC).
Open to early-stage BC-based tech startups, the annual NVBC Competition offers participating companies the chance to win a total of $250,000 in cash and prizes. Participants also receive the opportunity to earn non-dilutive cash prizes, connect with mentors, network with founders, and raise their company’s profile. The competition is operated by New Ventures BC, and supported by Innovate BC, other private and public sponsors, and volunteer mentors, speakers, and judges.
This year’s full list of winners also includes: Victoria-based Rootd, which offers a mobile app focused on providing panic attack and anxiety relief; Victoria’s BinBreeze, which has developed an all-natural fruit fly repellent and food waste deodorizer; and Abbotsford-based Sarcomere Dynamics, which is developing strong, compact, and lightweight robotic hands.
Rootd won the $10,000 Social Venture Prize as well as the new $10,000 Woman-Led Venture Award. BinBreeze secured the $10,000 Regional Start-up Prize, while Sarcomere Dynamics took home the new $7,000 Diamond-in-the-Rough Award.
According to NVBC, since 2000, the Top 25 competition finalists have raised over $1 billion in financing and created more than 8,600 new jobs. Past competitors include Aspect Biosystems, Lumen5, Jane Software, and publicly-traded biotech giant AbCellera, which was a 2013 finalist and the recipient of the first-ever NVBC Alumni Impact Award.
Feature image of TrafficDriven Technologies by Jeff Vinnick