Riverwood Acoustics wins RC100 2018
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 funding 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.”
Announcement of the Top 5
The Top 5 Pitches
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