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Startup secures $25k top investment after pitching to Colorado VC in Ottawa

Article Date:  April 7, 2015

OTTAWA, ON – Mosaic Manufacturing, maker of a multi-material, multi-colour 3D printing technology, has been selected by Colorado Venture Capitalist Brad Feld as the top startup company in a national pitch competition.  Mosaic competed in the Ottawa stop of the five-city tour, facilitated and hosted by L-SPARK on March 25th.  Mosaic was in tough against entrepreneurs from the Ottawa region as well as university, college and other startup groups in Winnipeg, Waterloo, Toronto and Montreal, but in the end they succeeded in taking home the top prize of a $25,000 capital investment in their new venture. 

The competition was a joint initiative undertaken by Colorado VC Brad Feld and Ryerson University business professor Dr. Sean Wise.  Mr. Feld is a veteran VC who has backed projects like about.me.  Professor Wise also hosts The Naked Entrepreneur on specialty cable channel OWN.  Together they toured Canada in search of the next great startup success, and also shared excerpts of their experiences and advice about entrepreneurship from their new book, Startup Opportunities: Know When to Quit Your Day Job.

L-SPARK, the Ottawa-based enterprise software Incubator/Accelerator, coordinated the Ottawa date on their tour.  This included soliciting pitch competition submissions from post-secondary institutions and student startup groups across Eastern Ontario.  L-SPARK reviewed the submissions received and selected Mosaic, a student startup that graduated from the Queen’s Summer Innovation Initiative and a previous participant in the Queen’s University GrindSpaceXL accelerator program, to move forward into the competition.  L-SPARK’s mentors provided Chris Labelle, co-founder and COO of Mosaic Manufacturing, with one-on-one coaching in preparation for his pitch to Feld and Wise. 

The main event, The Ottawa Startup Opportunities Book & Pitch Event, took place ‘Dragon’s Den’ style on campus at Algonquin College.  With an audience that included student entrepreneurs and members of Ottawa’s vibrant startup community, Labelle presented Mosaic’s unique technology that enables multi-colour printing using customers’ existing single-colour 3D printers.  The innovation can be integrated easily into most 3D printers available today, and it requires no hardware modifications.  Mosaic (http://www.mosaicmanufacturing.com/) is planning a Kickstarter campaign to fully launch their new product in three weeks’ time. 

In addition to the pitch competition, Feld and Wise conducted a ‘fireside chat’ with a group of 200+ entrepreneurs and prominent players in Ottawa’s startup community, discussing their collective experiences as investors and startup advisors.  L-SPARK’s portfolio companies also met with them for a private dinner.  This special gathering included the soon-to-be-announced startup founders who have recently been selected to join L-SPARK’s first Incubator program, which launches this month.  

Details of this announcement will be released next week.  These startups will join L-SPARK’s existing Accelerator companies, The Better Software Company and REnewity (formerly Frontlines), for intensive mentorship and guidance over a four month period. 

About L-SPARK

L-SPARK is an Ottawa-based Incubator and Accelerator with a laser focus on the Enterprise Software market. By providing entrepreneurs and startups with access to industry mentors, sector-focused venture capital firms and angel investors, the objective of L-SPARK is to create a deal flow of fundable enterprise startup companies and support an enterprise-focused startup ecosystem in the region. L-SPARK will arm innovative entrepreneurs with the tools and support to be more agile, more competitive and more profitable. L-SPARK seeks innovators who can create software that keeps up with and accelerates the rapid growth of their customers, leads the rapidly evolving technological landscape, and redefines the enterprise landscape. L-SPARK is supported by Wesley Clover International and Invest Ottawa.  Visit us at www.l-spark.com, connect with us on linkedin.com/l-spark or follow us on Twitter @LSPARKGlobal.