Ottawa Technology Venture Challenge – Innovative New Product Design

May 26, 2010 - PRLog -- Ottawa’s hi-tech community gathered for the 10th annual Technology Venture Challenge (TVC). Started in 2000, the TVC is Ottawa’s most prestigious competition for encouraging post-secondary science students to act on their innovative ideas. From a starting point of over 20 teams in January, the event featured three finalist student teams, from Carleton University and the University of Ottawa, presenting their business case to an audience of technology executives, academics and local industry experts including Ottawa Mayor Larry O’Brien.

Innovation is central to maintaining a strong city foothold in the growing Global economy. Start up entrepreneurs and new product designs bring innovation to the market.  Ottawa is a leader in software, hardware and physical product development with technical teams for hire to meet the growing trend of outsourcing non-strategic development to experts.
Design 1st president, Kevin Bailey was among a panel of judges at the TVC awards who posed questions to the teams and decided on the winners. Aurora Coral’s sustainable coral production method took home the top prize of $10,000 with TWPC’s small wind turbine system and Aduvo’s Smart-Home System receiving the runner up prizes of $5000 each. The TVC also presented a $5000 People’s Choice award for the first time in the events history. Design 1st was proud to fund this award based on an audience vote and present it to TWPC’s small wind turbine system.

"This year’s TVC challenge is a significant milestone for us that testifies to the support and hard work of our sponsors and volunteers," said Ken Charbonneau, a partner at KPMG LLP and chair of the event's board of directors

In celebration of the 10th anniversary of the event, sponsors, volunteers and TVC founders were recognized with small gifts and a commemorative video was presented to all who were in attendance. The video, developed by In Motion and Design 1st, highlighted the past successes of the competition, technological innovation and the entrepreneurial passion of past students, CEO and business mentors and the many volunteers involved.

Building relationships with the business community, mentoring potential leaders and fostering student entrepreneurship are main goals of the TVC competition.  Through the hard work of event sponsors and volunteers, everyone involved is looking forward to the commercial success of this year’s young entrepreneurs.

For more information on the TVC annual competition, past winners and successful ventures visit: http://techvc.org.

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Design 1st is a product development company with a team of highly talented Industrial Design and Mechanical Engineers who help inventors, start-ups and growing corporations bring new innovative products to market. Specialists in physical product design and mechanical engineering development, Design 1st takes clients from a napkin sketch concept to a production-ready product. Working closely with strategic marketing and development teams Design 1st manages the detailed design, prototyping, verification testing and documentation. Design 1st is based in Ottawa, Canada with satellite offices in Montreal and Vancouver. For more information, visit http://www.design1st.com.

Contact: Kevin Bailey, Tel: 1.613.235.1004 ext.225, kjbailey@design1st.com