For Immediate Release
SURU Inc., maker of SURU electric bikes has won the first SPARK Innovation Challenge, a startup competition designed to accelerate new businesses in Nova Scotia.
The prize award of $50,000 is earmarked for advancing SURU's innovative electric bike technology into the market. SURU Cycles use radical technology first conceived in the Amarok electric racing motorcycle to travel up to 50 km in comfort and safety using only ten cents worth of electricity without any effort on the part of the rider.
“Participating in the Spark Innovation Challenge has guided the trajectory of our business,” said Mr. Uhlarik. “The coaching we received through Spark and the funds being awarded will help us build better products and win in the marketplace.”
Attracting 136 participants from across the province, SPARK awarded prizes to five companies in four regions. Based in Hubbards, Lunenburg county, SURU took top honours for SPARK West.
About SURU Inc.
The company was founded less than two years ago, and all design and development was done in Nova Scotia. The company's first product, the SURU One Fifty, is made with more than 60% domestic content, with key suppliers located throughout Nova Scotia. The bike is ready for market, with mass production targeted for spring 2018.
The SPARK Innovation Challenge is a collaboration between Innovacorp, a provincial venture capital firm, and the Atlantic Canada Opportunities Agency. The competition is designed to showcase new and innovative businesses in Nova Scotia to stimulate economic development.
Michael Uhlarik, co-founder
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