Renfrew County Community Futures Development Corporation Announces the Winner of its First Startup Competition
August 24, 2018 5:00 PM Eastern Daylight Time
PETAWAWA, Ontario–After three rounds of competitive down-selection, Riverwood Acoustics won the first annual RC100 Startup competition, securing $100,000 in early-stage investment from Renfrew County Community Futures Development Corporation (CFDC).
Riverwood Acoustics is a Renfrew County-based designer and manufacturer of one-of-a-kind premium home bluetooth speakers made from reclaimed riverwood. The company focuses on sound excellence, build quality and aesthetics. Their branding is built around the connection to local culture and the unique use and conscientious sourcing of reclaimed wood. Historic, Artful, Unrivaled. Once in full production, the company will create up to 12 full-time positions and influence over 30 positions indirectly through contract manufacturers in Renfrew County.
“We are thrilled to win RC100 and to have the support of Renfrew County CFDC and the business community in establishing home audio wireless products locally,” said Riverwood Acoustics founder Ben Seaman. “This investment in innovation—along with guidance in optimizing our productivity and performance—will position Riverwood Acoustics for sustained growth as we continue to deliver and deploy our units with customers across North America and around the world.”
“Our objective is to become a world leader in premium home wireless speakers made from reclaimed riverwood,” explains Seaman. “A truly unique product that will compete with style and sound quality that allows us to provide beautiful, high-fidelity home wireless speakers that are made from 100% reclaimed riverwood to our customers.”
Based on their exceptional performance in the RC100 Top 4, Renfrew County CFDC is looking at utilizing a broader suite of programs to develop finding opportunities for the other finalists.
The competition, which launched in February of this year with 35 entries, officially ended today at the SRB Technologies Inc. RC100 Startup Reception, held at the Garrison Petawawa Golf Club.
“We are excited to be backing Riverwood Acoustics,” said Paul Curtis, Chair of Renfrew County CFDC’s Board of Directors. “The technology is impressive but even more so, the people who are behind its commercialization. Congratulations to all.”
About Riverwood Acoustics
Riverwood Acoustics a Renfrew County-based company, founded by Ben Seaman and Scott Rathwell, which offers premium, high-fidelity speakers that are made of 100% reclaimed riverwood that can be showcased in your home or business. Features include: Bluetooth AptX – CD quality wireless transfer; Reclaimed Wood – Solid birch premium enclosure; Power Amp – 40 W rms low distortion simplifier; Bass Extension – Dual passive bass radiators; High Fidelity – 3” and full range acoustical perfection; and RCA I/P – Left/right RCA inputs for AUX connections. The wood used in the speakers is known as “old growth” timber, which grew hundreds of years ago under ideal conditions thanks to lower light, cooler temperatures, and optimal soil conditions. This resulted in a stronger, tighter and denser grain wood compared to current cuts of wood. These logs are retrieved from the depths of the Ottawa River by eco-divers, kiln-dried and handcrafted into a unique, rare speaker that boasts unparalleled sound quality. Find out more at www.riverwoodacoustics.com.
The competition is modelled after the successful N100, Northumberland CFDC’s annual open invitational $100,000 technology startup competition. RC100 is delivered by Renfrew County CFDC, which is supported by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), in collaboration with N100, the Impact Centre at the University of Toronto and Invest Ottawa. It is supported by BDC, Algonquin College, City of Pembroke, Renfrew County Economic Development Department, Edwards Professional Corporation, MathWorks, BUDGETO, SRB Technologies Inc. and powered by Reviewr. RC100 will enter its second year with a call for applications in January 2019. Visit us online at www.rc100.ca.
Renfrew County CFDC‘s Executive Director, Diane McKinnon at 613 431 3951 ext. 222 or firstname.lastname@example.org
Renfrew County CFDC’s Loan Manager, Mike Thompson at 613 431 3951 ext. 223 or email@example.com