Polymer Research Technologies Ltd. (PRT) won the $130,000 top prize at last night’s British Columbia Innovation Council (BCIC) New Ventures Competition.
The New Ventures BC Society (NVBCS), which operates the awards with support from BCIC, awarded nearly $400,000 in prizes at the 11th annual gala.
PRT takes polyurethane waste destined for landfills and turns it into a recycled polyol that can be reused by the manufacturers to make more polyurethane.
Other winners included Reward Loop ($70,000), MineSense Technologies Ltd. ($40,000), Awesome Wireless Inc. ($40,000), GreenScene AgriTek Inc. ($30,000), Diacarbon Energy Inc. ($30,000), FundRazr ($15,000) and KOK Technologies ($10,000).
“Each year the quality of the companies that enter the competition goes up, making the decision for our jury a very difficult one,” said Bob de Wit, executive director of the New Ventures BC Society.
“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.”
Nearly 180 companies applied for prizes in the business competition and 15 finalists advanced to a final round of judging.
Last week the NVBCS launched the second annual BCIC-New Ventures Competition: Regional. That’s a four-month, three-round competition for technology startups located outside Metro Vancouver.