VEF Momentum is a new program of the Vancouver Enterprise Forum to “connect, mentor and inspire young and aspiring entrepreneurs”. They’re running their first event September 30 at Tunnel Lounge (622 West Pender St) featuring Geordie Rose, CTO of D-Wave, the UBC spinoff that has created the world’s first commercial quantum computer.

The night will begin with icebreakers and introductions, followed by an invigorating presentation by Geordie Rose, the founder and Chief Technology Officer of D-Wave Systems. Geordie founded D-Wave out of UBC in 1999 and has been instrumental in building D-Wave into a successful Quantum Computing company. He will be offering his experience in starting his business, getting financing and navigating his way through Vancouver’s entrepreneurship scene. He’ll close with his insights on how Vancouver has transitioned over the last several years into a technology entrepreneurship hub. The night will conclude with a question-answer period followed by networking and drinks. Refreshments will be served.

Who You Can Expect to See: 

• Student entrepreneurs from universities and colleges across the Lower Mainland
• Young aspiring entrepreneurs representing 15 entrepreneurial organizations across the city
• First-time entrepreneurs representing their start-ups from across Vancouver
• Established technology entrepeneurs
• Venture Capitalists and Angel Investors
• Professional Mentors

Some free early bird tickets are still available. Register at the VEF Momentum site.

After five months of competition, I’m pleased to announce the 2008 top 10 companies!

Competition was fierce this year and it should be an interesting finish.

Next, the top 10 will give an oral business presentation to a jury of 15 angels, financiers, and entrepreneurs. The jury will then choose the winners for the 2008 competition and all will be announced at the awards ceremony on September 25th.

Please help me congratulate the top ten companies moving on to Round 4 (in alphabetical order):

If you’d like to contact any of these companies, email contact[at]newventuresbc.com for details.

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
Echoflex Solutions has developed products and solutions using wireless, self-powered (no batteries, ever!) switches and sensors. Used in new and retrofit construction these solutions create smart spaces. These easily installed and commissioned products, optimize energy consumption through needs based lighting and space specific temperature control and provide for a very flexible and sustainable future for the building. www.echoflexsolutions.com

3. GR Building Materials
GR Building Materials Inc. has developed a proprietary process for producing ‘green’, carbon positive, 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.  By ensuring nothing is wasted and considering the impact of a product’s life cycle on the environment and people’s lives, GR goes beyond sustainability, to environmental responsibility in manufacturing.   GR Cedar and Slate are non-toxic, carbon positive and 100% recyclable, after 50 years of use.

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. http://www.purelignin.com

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.

Angel Forum will be running a workshop on Company Valuation and Equity Term Sheets - October 27 at SFU Harbour Centre.

How to value your company and understand the investment conditions of an equity investor

Why attend? If you are planning to raise serious private equity in the next 12 months, ask yourself:

1) With US and International public equity markets down 15+ %, how do you correctly value your private company?

2) Do you have a good overview of the language and ramifications of a term sheet that will be offered by an investor?

3) Are you familiar with how angel and VC investors value companies, dilution impact and valuation negotiations?

4) Network with local investor panelists; Basil Peters, Paul Geyer and Geoff Catherwood during breaks, lunch and reception.

Content by the US Angel Capital Association with help by angel experts, these workshops are ranked 4.5 or better out of 5.0. 200+ people attended first four workshops. No comparable content offered in Canada. “Great info, must have to complete a deal”

Seminar Leader is Bill Payne who is an active private investor, board member and advisor to entrepreneurs. He is an involved member of San Diego’s Tech Coast Angels, Vegas Valley Angels and Aztec Venture Network and has successfully founded or invested in 41 start-up companies. “Bill Payne has a particular knack of delivering his great knowledge of angel investing, worth the price of admission.”

Who should attend: Only experienced CEOs or CFOs of investor centered companies that are growing quickly and are seriously looking for multiple angel or VC investors.  You should already have a basic understanding of venture capital finance having raised some equity before or through attending our Investor Ready™ or similar seminars. 

New Ventures BC contacts can get 10% off registration, and you can save $50 by registering before Sept 20. Space is limited, you can register at Angel Forum.

The New Ventures BC seminars may be done for another year, but SFU is running another seminar series aimed at people on any side of a small or medium enterprise.

Early-stage? Need capital to finance your growth? This seminar is for you. It will provide you with a step-by-step approach to building a small or medium-sized enterprise (SME) that will appeal to seasoned early-stage investors and magnetize their capital.

This seminar describes the qualities that make an SME attractive to seasoned early-stage investors and a strategy for building this compelling SME. The seminar’s core principle is that an SME’s appeal to seasoned early-stage investors is boosted enormously when it:

• targets certain early-stage milestones that are known to foretell commercial success
• targets these milestones in a specific sequence, and
• executes this SME-building strategy with sound project-management practices to achieve these milestones effectively.

This all-day seminar happens Wednesday, October 15, 2008 at the SFU Vancouver Campus for $99 (student discount available). The seminar will be lead by Roger Killen, who has 25 years of experience working with SMEs, and include sizeable takeaway materials. For more information or to register, visit the SFU Time Centre site.

New Ventures BC will be able to continue strong and expand it’s outreach thanks to new funding and resources from the BC Innovation Council (BCIC), the National Research Council (NRC) and Western Economic Diversification (WED). The funding is as follows:

• From BCIC: the funding of a half-time position in each of their regional offices to promote NVBC.
• From NRC: $55,000 for regional mentorship.
• From WED: $129,360 annually for three years.

This year has seen more competitors from outside the Lower Mainland than in any previous year. “We are absolutely delighted with the support we have received to more actively regionalize NVBC,” says NVBC chair Ernie Love. “Not only has it been validated by increased regional participation in this year’s competition, but we will spend time over the fall and winter working with the regional science councils to attract even more competitors from across BC.”

MovieSet, New Ventures BC competitor in 2006, continues to gain momenteum and financing. The idea behind MovieSet is to provide a platform to share movie content and information with fans throughout the production process. Combining news, pictures, and videos, movie producers can use MovieSet to engage viewers before a film is complete. Content is availible through the web or on mobile devices. In this video, watch MovieSet’s CEO Colleen Nystedt explain the service - “Like taking those behind the scenes extras that you get on a DVD, and putting them on the web.”

MovieSet has received fair recognition, including Backbone Magazine’s 2008 PICK20 list of Canadian Web 2.0 companies, RocketBuilders’ 2008 Emerging Rockets list, as a finalist in the 2007 Canadian New Media Awards, and on the 2008 OnHollywood 100 Top Private Companies list. They sent two employees to the Cannes Film Festival to promote the service, and posted pictures back to their Facebook page.

Earlier this summer, they closed an A-round of financing worth $5 Millon, with contributions from Rho Capital and the BC Discovery Fund. With a declining movie industry turning to the Internet to increase their exposure, MovieSet is primed to establish itself as a go-to property for movie fan engagement.

New Ventures BC presenter Basil Peters recently posted a meaty article titled “Startups - The Essential To Do List”.

My most recent post is dedicated to a team of promising young
entrepreneurs who asked me recently if they could all just “put some money
in a bank account” to launch their startup.

I wanted to say ‘yes’ because I know how much other work they have to do
to build a successful company. But instead I had to warn them that there
were several essential elements of their corporate structure they had to
get right now to maximize their probability of success.

This question comes up frequently, so I started a list to help other
entrepreneurs ensure they don’t miss one of the essential structural
components.

This is a must read for entrepreneurs; Basil really covers all the bases. The list is 52 items long and additions are solicited.

New Ventures BC Round 3 finalists are invited to come out to a media training workshop. It will take place Wednesday, September 3 at SFU Harbour Centre, Room HC 2050. Kelly Aldinger and Michelle Ward from National Public Relations will speak on proper messaging with the media, and take your questions.

Please RSVP for the event to aschick [at] newventuresbc [dot] com. If you’re unable to attend but would like a copy of the handouts, send Angie an address (at the previous email) and it can be passed along to you.

RFind, the 2006 BC Hydro first-prize winner, continues to innovate in the field of real time inventory tracking.

RFind uses active radio frequency identification (RFID) and patented software to create real-time locating systems for manufacturing and warehousing facilities and open yards. Instead of having to manually record inventory, an RFID reader can wirelessly scan all nearby tags instantly. It can also be used to determine the exact location of a single item within a warehouse. RFind produces unique RFID tags that are reuseable and capable of communicating between tags, reducing the need for reader infrastructure. RFID has been quickly adopted by many industries; Walmart, for one, in their constant pursuit of supply chain efficiency, is now requiring RFID tags in all it’s supplier shipments.

Rocket Builders listed RFind on 2007’s Ready to Rocket “Ones to Watch” list, which identifies companies positioned for future growth.

“I am thrilled with our participation in New Ventures BC,” said Barnes. “It has been one of the most satisfying relationships of RFind’s existence. We were able to derive a lot of value from the experience that has had a significant impact on the overall development of the organization.”

RFind is based in Kelowna, with a European office in Brussels.

Bootup Labs’ Boris Mann, who participated in a recent New Ventures mentor panel, summarizes the event and shares his impressions:

My brain is still a little melted today from participating in the New Ventures BC mentor panel yesterday. 9am to 5pm, 8 presentations, 30 minutes for lunch, and short breaks between presentations. Wow.

For starters, let me say that this highlights the activity that is going on in Vancouver. Regardless of the specifics of the particular business model or idea, I was impressed by the way all the founders presented their companies and discussed their ideas.

…

NVBC is definitely a great event that provides real value to the local entrepreneurial community. I myself participated in it 4 years ago when I came back to Vancouver, not to launch a company, but to go to the various seminars and meet the local community. NVBC should be on every entrepreneur’s list to attend.

Thanks Boris for coming out!

If you’ve never heard of Bootup Labs, read about their startup accelerator model and how they work with founders and funders to cultivate startups.