Young Entrepreneurs Get Amazing Start

Waterloo - Finalists in the 2009 LaunchPad $50K Venture Creation Competition competed this week to win a combined total of $50,000 in cash prizes and in-kind services. Founded in 2004 the competition is jointly delivered by Wilfrid Laurier University, University of Waterloo, University of Guelph, Conestoga College, McMaster University and community entrepreneurs to encourage and support the creation and development of businesses.

"No where else in Canada can you find a group of universities and colleges collaborating together as a group," said Laurier Dean of Business and Economics, Ginny Dybenko. "Our combined efforts make LaunchPad $50K so much more than a competition. We have created a powerful network of like-minded students, entrepreneurs, business professionals and community members who believe in formulating new ideas and making them a reality. As a group, we believe that there is no better place to found new businesses and opportunities than in Southwestern Ontario."

LaunchPad $50K brings together students, alumni, and others to develop business plans and turn their ideas into viable, sustainable and scalable new ventures. The partnership between the schools has been a tremendous asset in drawing on exceptional talent into one competition.

In January 40 teams competed in the iGNITION $1K Pitch Competition where participants have 90 seconds to showcase their business idea. This fast paced and exciting event is the perfect stepping stone for entry into the 2009 LaunchPad $50K Venture Creation Competition. New this year is the addition of a Technology Stream, and a Social Entrepreneurship Stream in addition to the traditional General Industry category.

2009 LaunchPad $50K Winners include:

Winner in the Social Entrepreneurship Stream – Sustainable Waterloo
A not-for-profit organization that is guiding corporations in Waterloo Region towards a more environmentally sustainable future by facilitating collaboration between industry, local government, academia, and NGOs. They are currently focused on The Regional Carbon Initiative: the development of, and corporate commitment to, a measurable and realistic CO2 reduction target framework for participating organizations to voluntarily participate in. Sustainable Waterloo was developed by Wilfrid Laurier University alumna Mike Morrice with support from team members Micaela Buchnea-Chew, and Kyle Pinto.

Winner in the Technology Stream – 2G Robotics
A Waterloo, Ontario start-up that has recently developed the worlds first underwater laser scanner. The ULS-100 utilizes laser imaging to create quantifiable 3 dimensional pictures of underwater objects and surroundings for inland and offshore marine asset inspection. 2G Robotics was developed out of the University of Waterloo by team members Melissa Upjohn, Stephanie Hecimovich, and Alison Carere.

Winner in the General Industry Stream – This category resulted in a tie between Ethos Cycles AND SciMed.
SCImed is a startup business that specializes in the online sale of specific medical products required by people who have sustained spinal cord injuries. The concept created and developed by Michael Johnson, who is currently a Wilfrid Laurier University MBA candidate.

Ethos Cycles is a high performance mountain bike company focusing on the design, manufacturing and assembly of the product in Canada. Sean Sinclair

Runners Up in the 2009 LaunchPad $50K Competition include:

In the Social Entrepreneurship category: Core Lifestyles, Pots and Plants and Foundations Housing Corporation.
In the Technology category: Allerta, ZAK
In the General Industry category: Canvertising, Soy Care, and MyStory

Proud premier sponsors of LaunchPad $50K include Atria Networks, Gowling Lafleur Henderson LLP, RIM, TD Bank Financial Group, Tech Capital Partners, and Ernst & Young. Leading sponsors include the Accelerator Centre, Communitech, and the Greater Kitchener Waterloo Chamber of Commerce and the Ontario Centres of Excellence.

"I was impressed with the market awareness and focus of this year’s LaunchPad companies," says Jacqui Murphy, Partner at Tech Capital Partners. "The LaunchPad $50K competition continues to be an excellent platform for getting companies started."

Additional information about LaunchPad $50K is available at www.launchpad50k.ca .