The application period for Venture Prize is January 15 to February 15, 2021 (visit the application page).

Ensure you submit all the required documents and files. Application screening decisions will be made based upon the information provided in the application and executive summary. Business model and progress to date including prototypes, initial customers and/or revenue and future plans will be considered.

Prizes are subject to change. Below is a tentative prize structure for reference.

Top Venture Prize

Strongest overall venture with the potential to create economic value and address a significant market and/or societal need. This prize may be won by a winner of the other categories below. 

One (1) Participant will win the Top Venture Prize package

• $10,000 cash prize

• In-kind Legal Services Package (the winner will receive general corporate advice relating to corporate structure, employment/consulting agreements, and privacy issues)

• $12,000 In-kind Accounting & Compliance Package

• Free entry to New Ventures BC competition

Category Prizes*

Research and Development - ($5,000 cash prize)
A venture with a discovery or innovation, that has an intellectual property component with evidence it will move beyond the lab, be commercialized and work in the real world.

Local Impact ($5,000 cash prize)
A venture that is not predominantly focused on science or tech, but is economically viable and valuable without having an obvious path to scale; e.g. mainly regional impact.

Digital Platform ($5,000 cash prize)
Ventures that deliver a solution for a specific vertical market solely via the internet; Modern day platforms that use internet connectivity to provide services. i.e. SaaS, Mobile Applications, and Web Platforms.

Idea Prize
Great startups are built around big vision! The Top Idea Prize ($5,000 cash prize) is awarded to the individual/team demonstrating vision for a great idea for a venture, and setting the stage for turning their idea into a viable opportunity.

• Top Idea Prize ($5,000 cash prize)

This award is judged on the quality of both the ideas as well as the plan for carrying it out, not necessarily the current business result. The jury will award the Idea Prizes based on the following eligibility:

• The recipient is one of the preliminary round participants in the Competition;

• The recipient is a pre-Minimal Viable Product (MVP); and,

• The recipient is pre-revenue.

Attribute Awards** 

Non-finalists and finalists are eligible to win Attribute Awards. Additional documentation may be required to be considered for these prizes.

Female Founder Award ($2,500 cash prize)

The jury will award the top Female-Founded prize based on the following guidelines:

• The recipient will be one of the preliminary round participants in the Competition

• The recipient will be an individual or team with one or more founders who self-identify as female and who hold 20% or greater ownership (or intended ownership) of the Venture.  Consideration will be given to a smaller ownership percentage if one or more of these Founders holds significant managerial control.

• When deliberating between two or more qualified Participants, the Jury will give consideration to the total percentage of ownership by female founders.

Social Impact Award ($2,500 cash prize)

The jury will award the top Social Impact prize based on the following guidelines:

• The recipient will be one of the preliminary round participants in the Competition 

• Has as part of its purpose a strong social or environmental mission and creates shared value to the local community and society at large in addition to economic profits. Your venture uses its business structure to create shared value by creating economic value in a way that also creates value for society by addressing its needs and challenges.

SFU Alumni Founder Award ($2,500 cash prize)

The jury will award the top Alumni Founder prize based on the following guidelines:

• The recipient will be one of the preliminary round participants in the Competition

• The recipient will be an individual or teams with one or more founders who has completed an SFU Senate-approved credential or program AND who together hold 20% or greater ownership (or intended ownership) of the Venture. Consideration will be given to a smaller ownership percentage where one or more of these founders golds significant managerial control

• When deliberating between two or more qualified Participants, the Jury will give consideration to the total percentage of ownership by SFU Alumni, and alumni engagement with SFU

• Participants who wish to be considered for this award may be asked to provide confirmation of graduation from SFU Registrar

*Subject to change

**Participants may be awarded an Attribute Award in addition to a Category Prize; these awards may also be awarded to participants who pitched to the preliminary panels but are not finalists for the Venture Prize.

Contact Maycko Macapugas at vc_events@sfu.ca if you have any questions.