Nick Seto, co-founder of Vancouver-based start-up, Target Tapehas been named to BC Business’ 30 Under 30 list of the province’s best and brightest young business talent for 2016. Target Tape provides precision medical imaging accessories and solutions.
During his bachelor of commerce at the UBC Sauder School of Business, Seto was accepted into New Venture Design (NVD), an interdisciplinary course that pairs commerce with UBC engineering students to create a viable products and the business plans to launch them. The focus of Seto’s project led to the creation of Target Tape and its product X-grad, a disposable tool for surgeons that helps make incisions more accurate.
Originally assuming he would follow a path into investment banking, Seto says, “I became hooked by entrepreneurship and discovered a real passion for it.”
The idea for Target Tape came about when his NVD partner, engineering grad Colin O’Neill described issues he had noticed in how doctors deal with bone fractures, says Seto. O’Neill noticed that surgeons typically locate a fracture through touch and so he came up with a solution that made the process more accurate by transferring marks from an x-ray directly onto the body.
Seto and O’Neill developed the solution into a viable business. After the co-founders graduated in 2010, Target Tape became the first company to receive funding through entrepreneurship@UBC (e@UBC), an initiative that supports ventures originating from the UBC community.
The pair also presented their ideas to venture capitalists in Silicon Valley, and their business presentation skills honed at UBC Sauder paid off as Target Tape received $50,000 of equity investment.
Today, Target Tape is in its final pre-revenue stages and the founders expect to launch X-grad in late 2016. Their device has received commitments for future use from the B.C. Cancer Centre, the Fraser Valley Cancer Centre and Surrey Memorial Hospital.
BC Business Magazine annually celebrates B.C.’s prominent young change makers who excel in their respective industries, contribute to their communities and the environment and are making waves as business leaders.
Read more about the story behind Target Tape and Seto’s journey to start-up success.