Accelerate Okanagan is putting out a challenge to local technology companies.
With its recently launched Jump:Start Challenge, the organization aims to support technology firms and entrepreneurs seeking to raise investment by offering an “investor-ready” pitch competition.
An investment pitch is a 10 minute presentation made to potential investors, telling them what they need to know to decide whether or not to invest in a company or idea. All entrants to the Jump:Start Challenge will be invited to present their pitches at an open forum, and will then have an opportunity to participate in two pitch workshop training sessions, at which they will be taught the basics of pitching.
The top 10 entrants will receive eight weeks of expert training, coaching and mentorship to improve their business proposals and increase their chances of raising capital.
A total of five finalists will then present their business ideas to pre-selected members of the investment community, in Vancouver and the Okanagan. The overall winner will receive $10,000 worth of prizes, while the second- and third-placed finishers will receive prizes valued at $2,500 each.
Prizes for the top three companies – to be decided by a select group of judges from the investment community – will include free enrolment for one year in Accelerate Okanagan’s Venture Acceleration Program, which helps technology companies accelerate their growth and maximize their opportunity.
The winner will also receive one year’s free office space at the organization’s Kelowna or Penticton centres.
“A competition like this will help identify potential startups that we can support, while the prizes on offer are designed to help entrepreneurs jumpstart their ventures,” said Jason Neale, CEO of Accelerate Okanagan.
Neale said that one challenge consistently faced by technology companies is accessing capital to finance their growth in the competitive global environment.
“The Jump:Start Challenge is designed to not only identify the hottest technology startups, entrepreneurs and growth companies across the Okanagan with the vision, technology and management to make a big impact on the world, but will provide entrants with intensive training, coaching and mentorship and assist them access potential sources of funding,” Neale added.
Entrants should e-mail a short description of their business concept to Accelerate’s programs director, Jeff Keen, at jeff@accelerateokanagan.com.
The ten participants will be selected through a competitive process to present their pitches every two weeks over a three-month period.
“By mid-November, the five finalists will get to present to an invitation-only group of technology investors from both Vancouver and the Okanagan,” said Keen. “With the preparation and training they will have received, we anticipate a high level of fund-raising success.”
For further information, visit www.accelerateokanagan.com/jumpstart/, or contact Keen at 250-870-9028.
