CHALLENGE INFORMATION

CHALLENGES

  • Agritech & Food Security

    Food Security is a topic that has made its way into everyone’s thoughts and conversations. Increasing concerns over the rising cost of food, access to reliable sources of healthy food and the stability and reliability of the current food supply chain globally has inspired a new wave of backyard gardens and local farm stands on Vancouver Island and across the nation.

    The Food Security Challenge seeks solutions in the form of sustainable, technologically innovative locally anchored businesses that reduce, eliminate, or more efficiently utilize our locally obtainable food resources.

  • Tech & Innovation in Waste Reduction

    In a circular economy, nothing is waste. The circular economy retains and recovers as much value as possible from resources by reusing, repairing, refurbishing, remanufacturing, repurposing, or recycling products and materials. It’s about using valuable resources wisely, thinking about waste as a resource instead of a cost, and finding innovative ways to better the environment and the economy.

    The tech & innovation challenge in waste reduction seeks solutions in the form of sustainable, technologically innovative, locally anchored businesses that reduce, eliminate, or remanufacture waste products from one industry to benefit the same industry or another. It focuses on utilizing waste as a resource and solution.

  • Tech & Innovation in Healthcare

    The tech & innovation challenge in healthcare seeks solutions in the form of sustainable, technologically innovative, locally anchored businesses that reduce, eliminate, or more efficiently track, supply and monitor health and emergency related events.

  • Tech & Innovation in Tourism & Media

    The pandemic has had a huge impact on travel, media and the form in which they are provided. With the focus on reduced and safe travel and events, in order to limit the spread of disease and the impact on the environment, this will forever impact the industry. Now, with the shortage in frontline workers, this industry is being impacted again.

    The tech & innovation challenge in tourism and media seeks solutions in the form of sustainable, technologically innovative, locally anchored businesses that benefit or streamline the operations and provision of tourism and media related enterprises or products in order to enhance the safety, reduce environmental and social impacts on communities and/or reduce the reliance on front line staff.

  • Social Enterprise & Not for Profit

    Social enterprises are revenue-generating businesses with a twist. Whether operated by a non-profit organization or by a for-profit company, a social enterprise has two goals: to achieve social, cultural, community economic and/or environmental outcomes; and, to earn revenue. (from The Centre for Community Enterprise).

    Not-for-profit / non-profit organizations are independent, democratic organizations that are required to comply with the Societies Act and their own constitution and bylaws, they do not earn any profits for its members.

    Both of these operating structures are important to the community, as they provide services and products to the community with the goal of benefitting society over the gain of profits. As such, the NexStream tech challenge recognizes that they are innovators as well and deserve to have their own category to meet their unique operating model.

  • Wildcard

    Entrants of the Wildcard Challenge must provide both a clear description of a locally-relevant problem or challenge, and a detailed description of their proposed technology-based solution. Submitted entries must also document verifiable functional specifications and quantitative performance specifications that the proposed solution will meet, along with a draft business plan for bringing the proposed solution to market.

Specific Solution Requirements

Candidates will be selected based on the relevance and importance of their idea to their local community, as well as on the business and technical merits of the solution as exhibited in the prototype and within the proposal documentation itself.

JUDGING CRITERIA

    • Completeness of submission: 10 points

    • Marketability of concept as evaluated by draft business plan: 20 points

    • Manufacturability of concept as evaluated by design details: 10 points

    • Uniqueness of concept as evaluated by patentability: 10 points

    • Success of proof of concept: 30 points

    • Ability to hold to scheduled milestones during challenge timeline: 10 points

    • Estimated Bill of Materials Cost of Goods: 10 points

    Total Quantitative: 100 points

    • Strength & qualifications of Team Members: 15 points

    • Strength of proposed Management Team: 30 points

    • Quality of submission, including novelty of approach: 10 points

    • Live interview presentations: 15 points

    • Proposed Organization in Campbell River: 10 points

    • Funding needs post Award as evaluated by draft business plan: 15 points

    • Willingness to operate company in proximity to Campbell River: 5 points

    Total Qualitative: 100 points

    • Quantitative – 60% of total score

    • Qualitative – 40% of Total Score

  • Where applicable to the submission, live demonstration of prototypes will be held in Campbell River at a to be determined location and date.

    The decisions and judgments of the selection panel are final and any subsequent award(s) are at the sole discretion of CRAAG with input from the panel.

Beyond the following challenge-specific guidelines, prospective applicants should also review the general Rules and Regulations for NexStream, all of which are applicable to the present challenge. For rules relating to individual and/or team eligibility, please see our Rules and Regulations Page.

JOIN THE COMPETITION

Take the first step in realizing your innovative idea with Nexstream. Submit your expression of interest today!