Venture Okanagan provides opportunities for entrepreneurial success

Okanagan College Media Release

A new resource for entrepreneurs and the investors interested in backing them was launched at Okanagan College this week.

Venture Okanagan held its first investor forum on Thursday giving five aspiring entrepreneurs the opportunity to pitch their businesses to a room of more than 80 potential investors and supporters.

Venture Okanagan is SIFE Okanagan’s latest business project – an angel investor forum aimed at introducing start-up entrepreneurs to early stage investors and mentors who can help them commercialize their ideas.

“SIFE wanted to give aspiring entrepreneurs a chance to pitch their ideas to the community,” said Dr. Kyleen Myrah, faculty mentor for SIFE. “Many golden ideas have fallen through the cracks and SIFE created this project to address the issue.”

Five entrepreneurs pitched products and services that ranged from Von Mynheer Automotive’s prototype of an electric car to Vampt Beverage Corp’s new cooler.

“Not only did the presentations look sharp, but the deals presented were very promising,” said Steve Watson, professor in the Okanagan School of Business and Chair of the Investment Review Committee for Venture Okanagan. “Prior to showcasing their ideas at the forum the entrepreneurs had a chance to gain feedback and advice from SIFE, Okanagan College faculty and other mentors and it was great to see them make use of it.”

“I am happy with what we achieved in the time we had and am keen to find out if any investors materialize from this, as networking can take time,” said Andrew Mynheer of Von Mynheer Automotive. “I am pleased that we have made it this far and I think the car received great acclaim, which we are very satisfied with.”

Other entrepreneurs who presented included Awesense Wireless providing hardware and software solutions for utility companies; VP Innovations providing environment monitoring and management services and WTFast providing software to enhance user experience in the online gaming industry.

After the presentations the College hosted a networking event that gave students, investors, and entrepreneurs the opportunity to mingle and interact.

“It was amazing to see such high energy in the room,” said Raymond Ong, Director of Venture Okanagan. “People were engaged throughout the night and I am sure a lot of connections were made.”

With the first forum now under its belt, SIFE’s newest project, Venture Okanagan, is generating excitement within the business community as it plans for future forums.

“The event was a great success,” said Raghwa Gopal, President of Okanagan Angel Network and SIFE Business Advisor. “With all the great feedback received, we can build on this and take advantage of the momentum going forward to future forums.”

SIFE Okanagan is now in its sixth year of operation and has successfully competed among some of the top universities and colleges in the country. Since its inception, the students have created an economic impact of over $800,000 and provided financial education to an array of people within the community.

For more information, www.ventureokanagan.com.