Ohm Wearables, a new business venture co-founded by Mechanical Engineering students Cindy Gu and Adrian Wong, won first prize and a cheque for $3,000 at the Pacific Venture Capital Competition (PVCC) in Vancouver and third prize along with a $10,000 cheque at Canada’s Business Model Competition in Halifax.
The company produces a belt with sensors that can be used during yoga to monitor and analyze breathing. Gu and Wong plan to sell the device online or in partnership with yoga studios for $179.
“The quality of the competitors [at CBMC] was exceptionally high,“ said Gu. “I was very impressed and inspired by the effort and passion each team put in to their ventures, especially the top two teams.”
PVCC is a platform where university students present entrepreneurial ideas and financial valuations to an audience of industry leaders and seasoned venture capitalists.
Now in its third year, Canada’s Business Model Competition gives student entrepreneurs the chance to collaborate with some of the most innovative students in Canada, expand their networks, share their stories and receive feedback from successful academic practitioners and industry experts. The top three teams win cash prizes and the first place team earns a place at this year’s International Business Model Competition, to be held in Redmond, WA.