Pacific Venture Capital Competition and Conference (“PVCC”) is a stage on which university students present industry solutions and financial valuations to an audience of entrepreneurial leaders and senior venture capitalists across Canada.
Students learn firsthand what is required to successfully launch a new venture through seminars, mentorship and industry experience. Supported by the National Research Council Canada Industrial Research Assistance Program (NRC-IRAP), this year, they selected the best ideas from top-notch universities to compete at the epitome of downtown Vancouver, the Vancouver Art Gallery.
The winner of PVCC 2013 is VanAir Design Inc., a group of engineering and commerce students from the University of British Columbia. These students designed a ventilated door that allows air to continually flow between rooms while remaining closed, while offering the same sound attenuation of a conventional door. They tested their product and business model at the competition. With guidance from mentors, the team pitched to an audience of over 150 industry professionals and business delegates. In addition to receiving the cash prize, they generated interest from three judges – two of whom have become investors in their business. Currently, VanAir Design Inc. is working with PVCC’s investors to bring their innovative product into the market. “PVCC was a great experience that has helped us refine our business idea. They provided us with the resources and network to take our business idea to the next step and make it a reality,” said Vicking Yau, CEO of VanAir Design Inc.
The final round was also a very unique experience for the venture capitalist team. They had the opportunity to present financial valuations and investment decisions in front of the most influential venture capitalists in the industry. Members of the winning team have now landed internships in venture capital. “The competition marked a milestone for our team, shaping our career paths,” said Boris Miao, 2013 finalist.
This year’s conference was a huge success and could not have happened without the overwhelming support from the community. “For the upcoming year, we will expand the competition across North America in hopes of finding the best entrepreneurial ideas,” said Jordan Huang, PVCC Chairperson. Special thanks to PVCC’s sponsors: Lawson Lundell LLP, KNV Chartered Accountants LLP, TRIUMF, Borden Ladner Gervais LLP, Fasken Martineau, Canadian Youth Business Foundation, Mondo Capital Partners Inc., Discovery Capital, UBC Commerce Undergraduate Society and Dean’s Office at Sauder School of Business.
PVCC 2014 is the only venture capital competition in Canada and it will be held again in March 2014. For more info, check out their website at www.ubcpvcc.com.