The Eureka Project

VA Angels Winnipeg

March 28, 2014 12:41 ET

Manitoba's Angel Investor Network Giving Wings to Startups

WINNIPEG, MANITOBA--(Marketwired - March 28, 2014) - The Eureka Project and VA Angels Winnipeg joined forces in a high-end mixer connecting cutting-edge, tech-based entrepreneurs and over 20 of Winnipeg's angel investors Wednesday night. With a format similar to Dragons' Den where entrepreneurs pitch to investors and investors then inspect the deal for viability and success, it was in essence speed-dating for start-ups. Following the four pitches, investors and entrepreneurs were encouraged to mix, mingle, and strike a deal. Since the inception of the Eureka Project in 2007, approximately forty-five companies have received management support and have raised over in $30 million dollars of investment. Similarly, VA Angels has helped fund 60 companies with another $30 million dollars in private investment in local growing companies.

A partnership agreement and launch of a $1 million dollar fund between the Eureka Project and VA Angels Winnipeg was the driving force behind this event and the hope is these events only grow. Pitchers were given 10 minutes to make a compelling case for investing in their emerging company. Investors were then given 10 minutes to ask questions about the company, investment options, and vet the deal. PermissionClick, a web-based application takes the time and trouble out the school permission slip problem for parents, students, and administrators. ReclaimIO allows service-based businesses to capitalize on cancelled appointments by essentially reselling that appointment time (inventory) to customers on waitlists or notifying customers via SMS. MedLinx by Koronis Inc. is designed to capture the nearly 70% of hospital patient information that currently is not recorded in the patient files. The software links all care plan specialists via an app which houses patient information, streamlines communication among patients, their families, and the care team, and offers faster collaboration to deliver better patient outcomes.

Gary Brownstone, CEO of the Eureka Project knows just how prolific Manitoba companies are when it comes to the world stage. "Every successful start-up needs three things: raw talent-which each of these companies have in great supply; management talent; and investors. At Eureka, we help them with the most critical of these-investors-to ensure long-term success. The chasm between start-up to full-market company can be difficult to bridge. Our goal is to take that stress factor out of the equation and connect these great Manitoba businesses with experienced investors to see these ideas get to market and triumph. We already have success stories such as JOIST showing how connecting investors with these start-ups just works."

Sean Burns, president of VA Angels Winnipeg said, "Manitoba needs successful entrepreneurs. To see how enthusiastically the investors responded to the pitches tonight is terrific. It's time for Winnipeg to start thinking differently about its entrepreneurs. They are our drivers of job creation and the economic growth required to put Winnipeg on the map, they are tomorrow's business owners and leaders. VA Angels is about a new and transparent approach to supporting our entrepreneurs with mentoring, business connections and investment. Our investors help them catapult from start-up to market-ready and we already have some success stories brewing."

Manitoba's start-up community is thriving and more companies will be getting on the world stage. Syndicate investments (a lot of smaller investments grouped together) have huge appeal in Manitoba because it makes it easier for more people to access and support local startups. Angel investor networks have long been behind the scenes of successful companies and now Manitoba's business community is showing they're ready to invest and mentor new start-ups and help spread their angel wings for entrepreneurial success across the globe.

About The Eureka Project

The Eureka Project is a non-profit business incubator that supports promising technology startups. We specialize in early-stage companies and work with them to develop key strategies for growth. Our services have nurtured intellectual property, raised capital and grown successful technology companies to the tune of over $20 million in financing and $42 million in sales. Learn more at eurekaproject.ca.

About VA Angels:

One of Canada's leading angel investment groups, member locations are in Calgary, Edmonton, Phoenix, Kelowna and Winnipeg. Since 2003, over 60 deals have been done worth over $30 million in private funding and it is one of the most active angel groups in Canada. http://www.vaangels.com

Contact Information