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Laurier LaunchPad’s Teknically Wins 25K at Canadian Business Model Competition
Halifax NS: The Canadian Business Model Competition is not your traditional pitch your business plan competition. Hosted and organized by the Starting Lean Initiative at Dalhousie University’s Rowe School of Business, the competition emphasizes the lean canvas model methodology. It pushes students to validate their business by getting outside of the classroom to test their hypotheses and assumptions by talking with their target market. This allows them to make meaningful pivots and validate a customer-driven business model.
Andrew Paradi and Brandon Chow are two first year BBA students who have utilized this approach while going through Wilfrid Laurier’s LaunchPad Program. Over this past weekend they participated in the Canadian Business Model Competition. “It was an amazing experience heading to Halifax this weekend to represent Laurier at the Business Model Canvas Competition of Canada,” Paradi comments. The pair got off to a great start with their semi finals pitch, and the waiting afterwards is what Paradi remembers most, “We were very happy with our semi-final pitch and the seconds seemed like hours as the finalists were announced. Finally to fill the last of four finalist spots we heard ‘…and from…Wilfrid Laurier University…Teknically!’” They went on to nail their final pitch and take home the twenty five thousand dollar prize. “This win means a lot to our company building credibility and providing valuable resources to speed up development towards our full launch of Webplio later this year.”
With the win in Halifax, Teknically has secured one of only 40 spots available in the competition as the Canadian representative at the International Business Model Competition being held in Provo, Utah on May 2nd. “We are so thankful to Dave Inglis who first brought us into LaunchPad and joined Megan Piticco in coming to Halifax to support Teknically, our families and friends who have been with us every step of the way, and the financial backing from Laurier LaunchPad to compete in Halifax and now at IBMC in Provo, Utah later this spring.”
Teknically was not the only Waterloo success over the weekend. The University of Waterloo’s Sparkgig came in 2nd place.
Teknically is a software as a service (SaaS) startup that is currently developing an innovative analytics solution called Webplio. Webplio translates complex web analytics data into easy to use business information. Started in October, 2013 by first year serial entrepreneurs Andrew Paradi (BBA) and Brandon Chow (BBA & BSci), Teknically is now a team of four and is expanding to speed up development towards the full launch of Webplio later this spring. Currently in Closed Beta, Webplio’s visual and easy to understand approach to data will be unique in an analytics industry reliant on spreadsheets of numbers with minimal explanation.