VANCOUVER, BC (September 10th, 2010) – HiretheWorld, a company that provides innovative outsourcing solutions to medium and small business has become the first “New Media” company to take the top prize at the prestigious New Ventures BC competition. HiretheWorld received $100,000 in cash and $23,000 in in-kind awards which included substantial services from Fasken Martineau and Ernst and Young. This is one of many successes for the growing BC based company that already has users in over 150 countries.
“We are ecstatic about this significant accomplishment and humbled to be selected amongst so many excellent BC technology companies,” said Terry Beech, Chief Executive Officer of HiretheWorld. New Ventures BC is sponsored by the British Columbia Innovation Council and this year’s competition featured over 120 technology businesses. In order to take top spot HiretheWorld had to move through four rounds of qualification which included an initial executive summary, a feasibility test, a full business plan, and two rounds of presentations. The final round saw HiretheWorld and nine other companies face a panel of fifteen venture capitalists.
HiretheWorld will utilize the funds to expand their team and complete the build of their product pipeline. The company currently provides its customers with a service that allows businesses to source graphic design work through an innovative contest-style process. A customer who needs a logo or website posts a prize amount and fills out an online design brief. That brief is then sent to thousand of designers from around the world. Although the customer may receive hundreds of designs, they only pay for the one they want. In the future HiretheWorld plans to expand their contest model to include video contests and viral video advertising.
Earlier this year HiretheWorld also won the Oxford Global Venture Fund Competition at Oxford University in the United Kingdom.