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 services package

Category Prizes - each category winner receives $5,000 cash prize + in-kind package 

Categories will reflect the nature of the applicants and be grouped into 3-4 categories such as:

• R&D -  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.
• Digital Platforms - Ventures with an Internet based product that they sell to companies or consumers with a subscription or enterprise based business model.
• Digital Services - Ventures selling services to companies or consumers often in a local geographic area.
• Local to Global - Ventures / Socieities that are not predominantly focused on science or tech, but are economically viable and valuable without having an obvious path to scale.

Great startups are built around big vision! The 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 thier idea into a viable opportunity. This award is judged on the quality of the team, the idea as well as the plan for carrying it out, not necessarily the current business result. The jury will award the Idea Prize based on the following eligibility:

• The recipient will be one of the preliminary round participants in the Competition;
• The recipient will be pre-revenue (some exceptions apply).
  

Runner-ups ($1,000 cash prize)

Additional documentation may be required to be considered for these supplemental prizes.

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

Simon Fraser University (SFU) has roots in changemaking, innovation, and entrepreneurship. SFU continues to engage the world through its vast alumni membership. Through Venture Prize, SFU Alumni and the university seek to celebrate alumni members that are actively engaged and committed to its community.  

The SFU Alumni Founder prize will be awarded based on the following guidelines: 

• The recipient has provided contributions to the SFU community post-graduation.  
• The recipient is currently active and engaged with SFU. 
• 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 25% 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

Other In-Kind Awards include:

• 3-month Hotdesking Packages (VentureLabs)
• Complimentary entry to 2023 New Ventures BC Competition