SciMed Laboratories Inc. has carried off Economic Development Edmonton’s (EDE) $100,000 VenturePrize grand award.
SciMed’s “elevator pitch” at EDE’s ninth annual luncheon last week edged presentations by Random Knowledge Inc. and TerraNotes Ltd. to capture the business-plan competition. Runners up Random Knowledge and TerraNotes each received $20,000 in prizes.
“The calibre of entrepreneur attracted to this competition, and the tremendous support from the business community, affirms this region’s entrepreneurial spirit and untapped business firepower,” said Allan Scott, EDE president and CEO.
VenturePrize was developed two years ago to stimulate entrepreneurial interest and boost the number of startups in the Edmonton region.
Entrepreneurs with high-growth ideas craft an investment-friendly business plan in a bid for startup capital and services to move their ideas toward commercialization.
The three finalists were picked from about 40 business plans as this year’s cream of the crop.
SciMed Laboratories Inc., a research biotechnology company, recently developed two diagnostic kits (patents pending) that analyse vitamin A and vitamin D content. These kits will significantly reduce vitamin A and D analysis time from two weeks to two hours. The kits also reduce the cost of performing these mandatory food industry tests and allow for onsite testing.
TerraNotes Ltd. has developed a total turn-key solution and technology platform to see into sites contaminated with hazardous wastes.
The low-impact solution gives a comprehensive view of the Earth’s subsurface, costing 25 to 50 per cent less than conventional drilling and sampling methods.
Random Knowledge Inc. is developing a network intrusion risk management system. This technology increases the detection of stealthy and sophisticated hacker attacks while reducing false alarms.
Two other Edmonton companies won awards at this year’s annual luncheon. Stantech Inc. received the EDE Business Achievement Award for its continued outstanding performance and growth.
The Edmonton Oilers Hockey Club received the EDE Community Achievement Award for successfully organizing the Heritage Classic Weekend.
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