Start-ups awarded seed funding in Kingston’s biggest pitch competition
August 23, 2019
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After weeks of preparation, teams of emerging entrepreneurs stood before a panel of esteemed judges at the 2019 Dunin-Deshpande Summer Pitch Competition and made their case as to why their start-up businesses are ready to take the next big step.
Fourteen teams, all but one of which was comprised of students from Queen’s University, took part in the competition, each vying for a piece of $100,000 of total seed funding available to be won. The annual contest is the largest of its kind in Kingston, and past Queen’s winners have included ClimaCube (2018) and SpectraPlasmonics – who have gone on to compete internationally.
“I want to congratulate this year’s teams on their outstanding pitches, and commend their determination and drive to become Kingston’s next generation of innovators,” says Greg Bavington, Executive Director of the Dunin-Deshpande Queen’s Innovation Centre (DDQIC). “We know that access to seed capital is so important for fledgling companies, and that a vote of confidence from our judging panel can go a long way toward growing opportunities. We continue to be excited and proud to host this thrilling competition every summer.”
Teams had only a few minutes to make their business’ case for support, after which the judges asked a series of questions of each group about anything from product development to corporate strategy and financing. Sitting on the judging panel this year were Raj Melville, Executive Director of the Deshpande Foundation; Benjamin Barrows, Founder and CEO of technology and data firm Cabot 7; Allison Turner, co-founder and Director of Product Development at PnuVax; David Lloyd, CEO of Post Beyond; and Shelby Yee, CEO of RockMass Technologies, the grand-prize winning company for the 2016 Summer Pitch Competition.
“The Dunin-Deshpande Summer Pitch Competition has made tremendous progress over the years both in the quality and breadth of solutions pitched as well as the general interest from a worldwide audience, thanks in large part to the efforts of the DDQIC Staff,” says Melville. “The teams have worked really hard and it showed in the polished presentations that highlighted key business opportunities and issues facing them. We congratulate the teams and look forward to seeing them succeed and grow.”
Following the judges’ deliberations, seven teams walked away with seed funding, with Backr securing the largest sum — $30,000 — to support their online tool to help online content creators better engage their fans.
“We are thankful to the DDQIC for supporting entrepreneurship in the Queen's and Kingston community. It was our privilege to pitch alongside so many terrific teams,” says Duncan Cameron-Steinke, on behalf of the Backr team. “For our company, we can now apply the funds towards accelerating our product development and arrive sooner to market. This is just the beginning for us and we are thankful to the judges who believed in our team and in our vision.”
Cameron-Steinke, a recent graduate of engineering physics, is one of 45 Queen’s students who competed on teams this year, from across multiple disciplines, including Business, Engineering and Applied Science, Arts and Science, and Graduate Studies. Other competitors included entrepreneurs from the Kingston region and from the Royal Military College of Canada.
The competition was held in the atrium of Queen’s University’s recently-opened Mitchell Hall — the new home of the Dunin-Deshpande Queen’s Innovation Centre. Queen’s Interim Provost and Vice-Principal Tom Harris, Kingston Mayor Bryan Paterson and MPP Nina Tangri, Parliamentary Assistant to the Minister of Economic Development, Job Creation, and Trade (Economic Development), delivered remarks to open the day’s events.
“Businesses are the backbone of Ontario’s economy,” says MPP Tangri to the competing teams in her opening remarks. “All of you have come here today with innovation, and whether your venture aims to impact your local community, address social issues, support other business and people, or make advancements in science and technology, you should all be proud of the work you have done to be here today.”
To learn more about the competition, visit the 2019 Dunin-Deshpande Summer Pitch Competition website.
2019 DDQIC Summer Pitch Competition Results:
Backr - $30,000
Backr created a tool that promotes fan engagement while creating revenue for online creators. The group works alongside creators' existing social platforms and reward fans for every act of engagement, motivating them to do more.
HeroHub - $15,000
HeroHub is an online platform that creates a greater social impact by connecting local charities and non-profits to individuals or businesses seeking volunteer opportunities, charity events, and to donate new or gently-used items.
Cromble - $15,000
Cromble works to divert 100 per cent of wasted spent grain — a byproduct of beer brewing — and use it in creating a wide range of products, including health foods.
Red Gold of Afghanistan - $10,000
This team is helping female farmers in Afghanistan achieve financial independence by building their capacity in saffron cultivation and connecting them to global markets.
Research Stream - $5,000
Research Stream is a digital platform that connects researchers and participants for human subject research.
Big Spoon Lil’ Spoon (BSLS) - $5,000
BSLS is a social venture that provides healthy living programs and life skills workshops to people with disabilities and their siblings. BSLS’s goal is to help teach participants of all ages learn to be self-sufficient and lead a happy and healthy lifestyle.
Lifted - $10,000 (Wisdom of the Market Award)
This team, selected as a winner by audience vote, created a bra company that strives to redesign the lingerie industry to be more diverse and inclusive.