Startup

Outstanding Science and Technology Start-Up Sponsored by NAIT

This award is available to entrepreneurs and companies participating in a new venture. It recognizes an individual or team that has demonstrated 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 activity related to the science or technology.

This award is sponsored by NAIT which provides a cash prize of $10,000 to the winner.

Written nomination submission MUST address the following criteria:


Business growth in sales, earnings and employment

  • Describe the company’s core business, and how long it has been conducting business in Alberta.
  • How is the company demonstrating real customer need? Are there first revenues, letters of intent or other equivalent indications of market acceptance?

Describe the adoption plan for the deployment of the technology.  Uniqueness of technology, product or process.

  • Describe the technology, product or process and state what makes it unique.
  • Describe the company’s IP protection strategy.

Market penetration, expertise and customer service.

  • How will the company penetrate current markets? What sets the company apart from its competitors?
  • What do customers or investors say about the product, process and/or service?

Demonstrate social and economic impact.

  • How will the technology or innovation contribute to improved quality of life?
  • How will it enhance economic development? For example, will it create and/or retain high paying jobs?
  • How will it further the growth and diversification of Alberta’s economy?
  • How will investors, founders and employees benefit substantially from the original risk or technology?

Management style or approach.

  • How are advisors, partners, mentors and other stakeholders/resources engaged to contribute to the company’s success?

Technological and financial risk taking.

  • What sacrifices has the entrepreneur(s) taken to be successful?
  • How does the company plan to mitigate risk?

Financial projections and capitalization.

  • The company must provide a copy of its most recent financial statements, a current “cap table” (showing ownership structure, investors/partners, valuation), as well as three year pro forma reports.  All financial information received is held strictly confidential.
  • Demonstrate capitalization that is sufficient to carry the compnay through to the next stage of financing.
  • Identify what stage the company is at with respect to capitalization, amounts contributed to date, amounts pledged, etc. 
  • Describe how the technology has been applied in a novel way that has resulted in innovative tools that change current practices in an industry.