Newfoundland firm will use $100,000 cash award for new rapid carbon-fibre and composites manufacturing equipment.
HALIFAX — The Business Development Bank of Canada (BDC) has awarded Halifax’s Spring Loaded Technology turning point Bionic Boost project the 2015 BDC Young Entrepreneur Award and the $100,000 grand prize.
Submitted by co-founders Chris Cowper-Smith and Bob Garrish, their turning point project will accelerate Spring Loaded Technology’s capacity to bring to market the world’s first bionic knee-brace technology.
The compact and lightweight product stores the users’ own kinetic energy and releases it when it’s most needed to enhance strength, reduce fatigue, and increase stability. It can be used by everyone from athletes looking to enhance performance, labourers and military personnel, to people with various forms of movement disability.
Cowper-Smith says the company will use the $100,000 cash award for new rapid carbon-fibre and composites manufacturing equipment to boost production and cut costs.
The contest runner-up, who will receive $25,000 in consulting services from BDC, is the project Farm to Table, submitted by Melissa Butler, owner of the Real Food Market in St.John’s, NL.
Ten projects competed for Canada’s votes in the 2015 contest. Each finalist described, via a video submission, a turning point their company had reached as well as their solution to achieve future growth and success.
Created by the Business Development Bank of Canada in 1988, the BDC Young Entrepreneur Award contest pays tribute to Canadian entrepreneurs between 18 and 35 years of age.