Nelson含羞草研究社檚 SMRT1 Technologies has won $225,000 after finishing first in an Okanagan-based investment fund competition.
The company, which makes interactive vending machines for use by industries including health care, tourism, and retail, was voted the winner of the Accelerate Okanagan含羞草研究社檚 2023 OKGN Angel Summit at a gala in Kelowna on March 16.
SMRT1 president and CEO Brad Pommen said it is the single biggest investment his company has received and will be used to help it focus on sales and marketing expansion.
含羞草研究社淲hen we use this in conjunction with the other grants and funding that we含羞草研究社檝e got for the rest of the year, it kind of gives us pretty much a 12-to-14 month runway to be able to put the pedal to the metal now.含羞草研究社�
To win the investment, Pommen含羞草研究社檚 company had to make a number of pitches to Okanagan-based investors over 10 weeks while competing against 47 other teams. Each stage of the contest whittled down the field as pitches were required to become more in-depth.
Pommen said SMRT1 had previously entered the competition about five years ago and made it halfway. The feedback they received helped show where SMRT1 was as a business and what more it needed to accomplish.
It also prepared them for this year含羞草研究社檚 event. At the finale, six companies including SMRT1 made their pitches live to investors.
含羞草研究社淲e were able to check all those boxes. We really had taken it to heart what we needed to achieve.含羞草研究社�
It含羞草研究社檚 the . CertiCraft, which provides software for the cannabis industry, secured $150,000 at the previous event. Pommen said CertiCraft owner Sami Majadla gave him some advice ahead of the finale, which he put to use.
Pommen added the Nelson Innovation Centre and the Kootenay Association for Science and Technology are invaluable resources, and no one should be surprised that local tech companies are catching the eyes of investors.
含羞草研究社淚 think it highlights the value of Nelson含羞草研究社檚 tech culture and ability to come through and make a dent in what otherwise is typically a very Vancouver-centric kind of process.含羞草研究社�
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| tyler.harper@nelsonstar.com
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