HorseBit team's innovative solution to equine diagnostics takes top prize at RBC Fast Pitch

What do RFID bike locks, wearable tech devices, stackable snack bowls and data tracking chips for horses all have in common? These and many other new venture ideas were pitched in front of nine esteemed judges at this year’s RBC Fast Pitch competition.

On the afternoon of April 27, the Taylor Institute theatre was buzzing with more than 200 undergraduate business students. Organized by Haskayne’s Hunter Centre for Entrepreneurship and Innovation, this is the fourth year for the competition, which was generously supported by RBC, MNP, McCarthy Terrault and Market Grade.

Student pitch groups were part of the Haskayne School of Business’s Bachelor of Commerce Entrepreneurial Thinking course (ENTI 317) from the fall 2017 and winter 2018 semesters. This experiential course motivates students to develop an entrepreneurial mindset by brainstorming possibilities, solving problems and ultimately creating their own new venture concept aimed at capturing a unique market opportunity.

HorseBit took home top prize at this year’s event. The team’s idea proved to be innovative and also filled a gap in their current market. HorseBit is a data tracking chip and mobile app designed to reduce human error from diagnosing horses with common, preventable and potentially fatal diseases.

For group member Ally Penic, it was an opportunity to combine her business knowledge with her lifelong love of horses. “The competition really taught me to think outside the box and to tap into my network of resources — everyone from friends and family to advisers at the Hunter Centre to a biomedical engineer here on campus. These connections were our team’s biggest advantage. Our plan is to utilize our prize earnings to their full potential and see where this idea takes us.”

Pitch-style format tests students' ideas

The event follows a typical pitch-style format. Groups of three to five students had exactly four minutes to outline their new idea including the problem, competitive advantage, market research, solution and next steps. Judges then had just two minutes to ask questions.

Houston Peschl, instructor of entrepreneurial thinking at Haskayne, reflects on the initiative: “Entrepreneurial thinking is something that’s being integrated at Haskayne and across campus as well.

“RBC Fast Pitch equips students with the tools they need to enter a business environment that’s changing rapidly. And it gives them a chance to showcase their ideas and skills in front of an engaged audience. It’s an exciting time to be studying business.” 

The competition’s judges came from a variety of backgrounds and industries including financial services, law, health care, real estate, urban planning and marketing.

Haskayne EMBA graduate, competition sponsor and event judge Tasha Brown, vice-president, commercial financial services with RBC, describes the event as inspirational. “Hearing the students' idea pitches was the best part of the afternoon. You could really tell they’d put countless hours into these projects and honed their entrepreneurial skills as a result.

“At RBC we believe in investing in the future of our youth and this means that we look for opportunities to support trailblazers with unique ideas to reach their fullest potential. As both a judge and alumna of Haskayne, I’m grateful to have been a part of it.”

Guest speaker gives valuable update on Calgary's business climate 

While judges deliberated, guests heard from guest speaker Bruce Leslie, vice-president trade and investment attraction with Calgary Economic Development. Leslie gave an update on Calgary’s current economic and business climate — a topic that was no doubt valuable for all the budding entrepreneurs in the room.

Second and third place were awarded to Data Safe Solutions and TapKey respectively. Learn more about the winners from this year’s event.

A very special thank you to the many volunteers, sponsors, judges and audience members who created such a positive and encouraging environment for Haskayne’s undergraduate students to explore entrepreneurial thinking and doing.