A Nanaimo-based startup has won the 2020 New Ventures BC Competition, presented by Innovate BC. The cybersecurity business aDolus Technology was awarded over $135,000 in cash and prizes, including the $115,000 Innovate BC First Place Prize Package.
aDolus Technology specializes in safeguarding against malicious software and firmware in smart devices. Their flagship FACT Platform simplifies software validation and can be used by organizations across any industry. aDolus is a graduate of Creative Destruction Labs and boasts an array of strategic partners, including the Department of Homeland Security.
Vancouver’s Daanaa Resolution Inc. won the $65,000 Innovate BC Second Place Prize Package for their sustainable wireless charging solution for electronic devices. E-commerce startup Fable came in third, receiving $35,000.
In addition to the top three awards, finalists competed for three specialty prizes. This year’s winners include:
- aDolus Technology (Nanaimo, BC) — $20,000 Innovate BC Top Regional Startup
- Castofly (Vancouver, BC, founded by UVIC alum Iman Moazzen) — $10,000 Innovate BC People’s Choice Award
- Rootd (Victoria, BC, a previous Douglas 10 to Watch winner) — $7,000 Rogers Communications In-Kind Prize Package
Eric J. Byres, CEO at aDolus Technology, said in a media release “we are extremely thrilled to have won the 2020 New Ventures BC Competition. We loved being part of the NVBC process and learning about what other local tech companies are doing to make a positive difference in the world. We’re grateful for all of the support and look forward to continuing our steady growth for years to come.”
New Ventures BC (NVBC) was initiated 20 years ago to support early stage tech startups. As a non-profit, they run the annual New Ventures BC Competition, a Distance Venture Acceleration Program, and the ISI grant program.
This year’s competition received a record-breaking 240 applications. Since 2000, the Top 25 Finalists have gone on to raise over $860M in investment and create over 8,600 new jobs. 2019 Island-based recipients include Open Ocean Robotics and Douglas magazine 10 to Watch winners Cuboh.