Startup

Outstanding Science and Technology Start-Up

This award is honouring outstanding entrepreneurial activity in a science and technology related business.  There must be a clear Alberta connection to the development, enhancement, commercialization, marketing or other related activity.

WHO CAN APPLY: An individual or team in a new venture

Written nomination submission MUST address the following criteria. Frame your answers for a non-expert in your field; use layman’s terms.

Criteria

  • 1. What is the market problem or opportunity you addressed through this entrepreneurial activity?
  • 2. How did you develop the solution to this problem? Answer the following questions:
  • – Describe the company’s core business. How long has it been conducting business in Alberta?
  • – Describe the technology, product or process and how it is unique and leading edge.
  • – Describe the company’s IP protection strategy.
  • – How is the company demonstrating real customer need? Are there first revenues, letters of intent or other equivalent indications of market acceptance?
  • – How will the company penetrate current markets? What sets the company apart from its competitors?
  • – What do customers and investors say about the product, process and/or service?
  • – What is the significance of the solution?
  1. 3. Demonstrate sound business and financial management.
  • – How are advisors, partners, mentors and other stakeholders/resources engaged to contribute to the company’s success?
  • – What sacrifices has the entrepreneur(s) taken to be successful?
  • – How does the company plan to mitigate risk?
  • – Provide a copy of the most recent financial statements, a current “cap table” (showing ownership structure, investors/partners, valuation), and three-year pro forma reports.  (All financial information received is held strictly confidential.)
    • — Demonstrate sufficient capitalization to carry the company through to the next stage of financing.
    • — Identify what stage the company is at regarding capitalization, amounts contributed to date, amounts pledged, etc.
  1. 4. Demonstrate social and economic impact.
  • – Describe how the technology, product or process has been applied in a novel way that has resulted in innovative tools that changes current practices in an industry.
  • – How does it enhance economic development? For example, does it create/and or retain high-paying jobs?
  • – How does it further the growth and diversification of Alberta’s economy?
  • – How will investors, founders and employees benefit substantially from the original risk or technology?

 Nominations for the 2018 ASTech Awards are now CLOSED.