Companies Collectively Get $1 Million After Startup TNT Summit V
Summary
The co-founders of the startup TNT are raising venture capital funds.Weeks after Startup TNT held its fifth summit finale, the group revealed that over $1 million had been raised for participating startups.In Edmonton, Calgary and Saskatchewan, 10 side deals were struck in addition to the three winners. The startup provides VR video production services and works with healthcare clients to develop VR software tailored to their specific needs.Yr Plans was founded in 2019 and gives users the option to redirect a portion of their employers contribution towards paying off their student loan rather than their retirement savings plan. In 2021, Yr Plans partnered with Sun Life Financial to give select Sun Life customers access to its employer-assisted student loan repayment platform.Scription works with maintenance companies to offer customized warranties to equipment operators, based on the performance of each piece of equipment. The pair teased the fund on stage at Summit V, noting their hopes of securing $5 million in an effort to continue investing in Startup TNT companies in an institutionalized way.Recently, Startup TNT also secured approximately $1.5 million in government funding to support its programming. This dollar figure includes $750,000 from Alberta Innovates, supported by the provincial government, and $780,000 from PrairiesCan, the federal governments regional development agency (RDA).In addition to its networking and summits, Startup TNT also organizes an investor education program and specialized summits for clean technologies and life sciences.