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Student incubation program reaches new heights with record number of participants, global participation and the largest amount of cash prizes ever awarded in program’s history.

Toronto, Aug. 26, 2024 (GLOBE NEWSWIRE) — DMZ, a global startup ecosystem, officially concluded its annual Basecamp program, where 55 student-led businesses had the opportunity to participate in a summer program to develop technology-driven solutions that address critical industry challenges, equipping them with foundational business skills to thrive in an entrepreneurial career. 

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As an inaugural recipient of the Embark Student Foundation Major Grant Program, the 2024 Basecamp program was offered in two phases: Sprint and Voyage. Basecamp Sprint offered a 4-week pitch coaching experience that provided students the chance to pitch their business ideas at Collision, North America’s premier tech conference. Following the Sprint phase, all participants continued their journey in Basecamp Voyage, an 8-week comprehensive program designed to help students refine their innovative ideas through expert 1-on-1 mentoring, customized coaching and opportunities to connect with startups and industry experts within Canada and DMZ’s global network. 

Basecamp concluded with ten student-led startups competing for cash prizes at the highly anticipated Basecamp Demo Day pitch competition. Demo Day awarded $50,000 CAD in total grant prizes to the top three pitch finalists. Award winners included:

• Glucosense, a HealthTech startup founded by Justin Allen and Tenzin Dhonyoe from Toronto Metropolitan University, was named the first-place winner and took home $20,000 CAD.
• PNYX, an Entertainment startup founded by Asar Qadir from Metalworks Institute/Yorkville University, was named the second-place winner and took home $15,000 CAD, as well as the People’s Choice award, voted by the audience.
• Summina, a HealthTech startup founded by Sylvia Gehring from Toronto Metropolitan University, was named the third-place winner and took home $10,000 CAD.
• Fresh AI, a RetailTech startup founded by Krish Bhoopati from Wilfred Laurier University, was named the fourth-place winner and took home $5,000 CAD.

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“Winning first place at Basecamp Demo Day feels surreal. We’ve always believed in our idea, but hearing our names called for the top prize was unbelievable,” said Justin Allen, Co-Founder of Glucosense. “The competition was tough, with many strong ideas, but this win validates the hard work and belief we’ve put into Glucosense. Now, it’s time to deliver.”

Tenzin Dhonyoe, the other Co-Founder of Glucosense, added, “This is our first venture, and DMZ provided us with the building blocks to turn our student project into a startup. We’re excited to use the prize money to prototype our technology and move closer to making a real impact.” 

The Co-Founders also noted that support from TMU’s Innovation Boost Zone and Science Discovery Zone has provided crucial resources for getting their idea off the ground.

The 2024 Basecamp program set new records, doubling the number of startups supported and drawing the highest number of applications in the program’s history. For the first time, Basecamp expanded its reach internationally, welcoming students from DMZ’s global hubs including Qatar’s University of Doha for Science and Technology and Japan’s Yamanashi Prefectural University. 

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“The success and growth of Basecamp this year is a true testament to the hunger of these student entrepreneurs. The talent demonstrated by participants has been truly inspiring and the record-breaking participation speaks volumes to how needed student entrepreneurial programming is,” said Abdullah Snobar, Executive Director of DMZ and CEO of DMZ Ventures. “And it doesn’t end here. Thanks to the incredible support from The Embark Student Foundation, we can now offer post-program support through SkillHouse, Masterclass and Launchpad to keep this momentum going.” 

“At Embark, we believe that when education and opportunity meet, incredible things happen,” said Embark’s President and CEO, Andrew Lo. “Basecamp participants should be proud of everything they’ve accomplished. The knowledge they’ve gained along their entrepreneurial journey will prove invaluable as they continue to innovate and build. We are excited to continue supporting them through ongoing learning initiatives with DMZ.”

The prestigious $20,000 grand prize was generously provided by The George and Helen Vari Foundation in honour of the late Dr. Helen Vari for her lifelong dedication to education. 

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As part of DMZ’s Talent Academy, Basecamp is just one of the expert-led tech and business programs available. If you’re an entrepreneur or professional looking for mentored, hands-on learning and a downtown Toronto co-working space, check out DMZ’s SkillHouse upcoming courses at dmz.to/SkillHouse.

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About DMZ:
A global startup ecosystem, DMZ at Toronto Metropolitan University equips the next generation of tech entrepreneurs with the tools needed to build, launch and scale highly impactful startups. By providing connections to customers, coaching, capital and a community, DMZ’s world-leading incubator programs help innovators reach the next milestone in their entrepreneurial journey – whatever that might be. Through its award-winning programming, DMZ has helped 800+ startups raise $2.69 billion in capital and create 5,100+ jobs. Headquartered in Toronto, Canada, with globally-accessible programming, DMZ has a widely-recognized international presence with offices in Vietnam, India and the U.S., and partnerships across North America, Latin America, Africa and Asia. Learn more at dmz.to.

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• DMZ’s Basecamp showcases the next generation of startups, awarding over $50,000 in cash prizes to student-led businesses

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