New Ventures BC Competition Announces Final Round Finalists

New Ventures BC Competition logoHot off the packets come the list of Round 4 Finalists in the New Ventures BC competition. We’ve been following this competition since April when a record setting 176 companies entered for their chance at $335,000 in awards. Now the field has whittled down to just ten companies, who will have to give a final presentation to a jury of 15 angels, financiers, and entrepreneurs.

The list shows a diverse set of innovative, practical ideas. Four of the companies involve green or alternative energy concept, and have a shot at an additional $60,000 BC Hydro sustainability prize.

1. Charge It! Payment Systems

This Victoria company has developed a suite of faster, ultra-reliable and affordable data-encryption products certified to meet international Payment Card Industry (PCI) compliance standards. Created by a software team with a military technology background, Charge It! is one of the first companies to develop PCI-compliant products that are also affordable for smaller businesses concerned about data security.

2. Echoflex Solutions

3. GR Building Materials

GR Building Materials Inc. has developed a proprietary process for producing ‘green’ roofing and siding materials that don’t crack when nailed, look remarkably like real cedar and slate, are fire-proof, impact-resistant and cost a fraction of the real thing.

4. Primisyn

Primisyn’s new Simplus software for financial institutions takes the guesswork and the risk out of product, loan and mortgage pricing. The system can review an institution’s entire relationship with a client, then calculate how an individual deal will affect institutional profitability—before the deal is made.

5. Pure Lignin Environmental Technology

Kelowna-based Pure Lignin Environmental Technology has patented a simple, efficient process for turning waste vegetation, such as beetle-killed pine trees and sugar cane waste, into three profitable products: pure lignin (used in many industries, including bio-degradable plastics), commercial cellulose and carbons for bio-fuels and protein. The company’s portable plant combines chemicals in a unique, low-pressure closed-loop steam process that transforms the waste into usable products without emitting pollutants or toxins.

6. Saltworks Technologies

Saltworks Technologies Inc. has developed a patent-pending solar process for desalination that offers significant electrical energy savings. The desalination market is estimated to grow by $56 billion over the next seven years and energy efficiency remains its greatest challenge.

7. Singular Software

Video professionals who currently spend hours and days setting up to edit video footage shot with multiple cameras can now do it instantly using Singular Software’s new synchronization plug-in for commercially available editing programs. With the touch of a button, Singular’s plug-in automatically synchronizes multiple camera and audio clips of the same event in just a few minutes.

8. Small Energy Group

Small Energy Group’s Energy Management Software communicates with a large number of building automation and metering systems to collect, archive, analyze and communicate energy information.

The system helps building owners and operators to quickly identify and resolve inefficient energy use, helps occupants learn how their buildings perform and ultimately helps to save money and reduce emissions.

9. SoundofMotion Technologies Inc.

Cyclists who load SoundofMotion’s VeloComputer software onto their cell phone, coupled with a wireless sensor attached to their bicycle wheel, can transform their cell phone into an advanced cycling computer. The highly accurate sensor transmits precise motion data to the software, which then displays spot speed, acceleration, time and distance traveled on the cell phone’s display. The data can also be downloaded to a computer for training analysis.

10. TeraTek

TeraTek is developing new imaging technology that uses Teraherz (THz) frequencies in the electromagnetic spectrum to see through non-conductive objects. The technology creates better-than-x-ray imaging for various characteristics such as density, moisture content and strength. The Prince George company plans to initially use its imaging system and software in lumber mills to analyze fiber structures and characteristics that can’t be seen using x-rays or microwaves.

Best of luck to all the competitors. The awards ceremony will be held September 25, 2008, 5:30 PM, at the SFU Segal School of Business in downtown Vancouver. Attendence is free, and you can register at the New Ventures BC site.