The deadline is fast approaching for young life sciences companies in the Maritimes to apply for the BioInnovation Challenge.

To enter the $30,000 pitching competition, companies from Nova Scotia, New Brunswick or Prince Edward Island must submit their application by Aug. 7. To apply, contact BioNova Program Manager Kerri Mannette at kmannette@bionova.ca.

“In addition to the grand prize, all semi-finalists will receive valuable advice on how to tell your story to engage and persuade,” said a statement from BioNova, which is organizing the event. “Gaining experience and accepting advice from experts is an opportunity not to be missed.”

Now in its fifth year, the BioInnovation Challenge is a chance for companies with a concept or early development pitch their idea to a team of judges at BioPort Atlantic in Halifax in October. To reach the semifinals, a team will have had to have done significant work on the project and display a “clear intention to commercialize”.

The three finalists will pitch their ideas to the entire BioPort conference on Oct. 28.

The winner will receive $30,000, comprising a $15,000 cash prize and an equal amount in mentoring in such fields as communications, branding, legal, financial planning, risk and insurance assessment, sales and management.

The previous winners of the competition were:

·         2014, NB-Biomatrix, Saint John;

·         2013, Spring Loaded Technology, Halifax;

·         2012, Performance Genomics, Truro;

·         2011, ABK BioMedical, Halifax. 

Together, these companies have raised more than $3 million in equity funding since winning the BioInnovation Challenge.