Polymer BCIC- New Ventures Competition Technology takes top prize at BCIC- New Venture Competition
Clean tech startup Polymer Research Technologies, which developed a waste recycling system, took the top prize at Thursday night’s annual competition for new British Columbia companies.
Polymer Research claimed the top prize, $130,000, from a group of 178 applicants in the 11th annual B.C. Innovation Council – New Ventures Competition.
The company takes polyurethane waste destined for landfills and turns it into a recycled polyol that can be reused by manufacturers to make more polyurethane.
Second prize of $70,000 went to RewardLoop for a patent-pending customer loyalty technology that prints secure rewards program barcodes on bills and receipts – and is estimated to increase merchant revenues by five per cent.
MineSense Technologies finished third, taking home $40,000 for a sensor technology that can accurately detect and reject barren waste rock from low grade copper and nickel ores.
Awesense Wireless won the BC Hydro Sustainability prize and $40,000 for mobile wireless smart sensors that can detect key areas of electricity loss.
Other winners included Diacarbon Energy with the $20,000 B.C. Bioenergy Network prize, FundRazer with the $15,000 Vancity Social Venture prize, GreenScene Agritek with the $30,000 Shildroth Agritech Innovation first prize, and Diacarbon Energy and KOK Technologies will share the $20,000 Shildroth Agritech Innovation second prize.
“Each year the quality of the companies that enter the competition goes up, making the decision for our jury a very difficult one,” Bob de Wit, executive director of the New Ventures BC Society, said in a news release.
“This year’s competition was the closest ever and we know that all of the finalists will take what they have learned from the educational series, events and mentorship and make rapid strides in their corporate development.”
Mark Payne, acting CEO of BCIC said the prize winners “join an impressive list of more than 1,200 program alumni who collectively have raised over $100 million in financing and created in excess of 600 jobs for British Columbians. We look forward to seeing these businesses grow and continue to contribute to B.C.’s economy.”