Five teams from the Master of Business, Entrepreneurship and Technology (MBET) program at the Conrad School of Entrepreneurship and Business delivered an exceptional showing at the 2026 BMO Apex Startup Challenge, hosted by the University of New Brunswick in Fredericton.
The national competition attracted more than 150 applications from universities across Canada. From this pool, 24 teams were selected to compete; 12 undergraduate and 12 graduate teams. Notably, five of the 12 graduate teams were from the University of Waterloo’s MBET program.
The impact was clear as the competition progressed. Of the six graduate teams that advanced to the finals, three were MBET-led ventures:
-
CELLECT Laboratories Inc., co-founded by Ibukun Elebute, earned 2nd Place in the Graduate Track, taking home a $4,000 prize.
-
CELLECT also captured 1st Place in the Elevator Pitch Competition, winning an additional $1,000 for a standout one-minute pitch.
-
-
Jtcipher, led by Tom Kizito and Charles Huxley, secured 3rd Place in the Graduate Track, receiving a $2,000 prize.
-
CellGel, founded by Piyush Garg, also advanced to the graduate finals, underscoring the depth of MBET talent in the competition.
Two additional MBET teams, ExtendiHealth (Olajide Adefila and Olakitan Bello) and GenesisBuild (Mohamed Adel), were recognized for delivering strong, high-quality pitches and demonstrating significant growth throughout the competition.
Piyush Garg, current MBET student, pitching for CellGel.
In total, the 2026 BMO Apex Startup Challenge brought together 55 competitors from 12 universities, supported by 28 judges, 11 volunteers, and multiple sponsors. More than $30,000 in cash awards were distributed across undergraduate and graduate tracks, elevator pitches, and theme-based prizes.
Reflecting on the experience, Marc Hurwitz, Associate Director, Professional Graduate Programs at the Conrad School, highlighted not only the competitive success of MBET teams, but also the learning value of the event: the quality of judge feedback and the intensity of the pitching environment contributed to meaningful skill development for all participants.
Ibukun Elebute pitching for CELLECT.
Ibukun Elebute, current MBET student, receiving the 2nd Place Graduate Track prize.
Mohamed Adel, current MBET student, pitching for GenesisBuild.
Charles Huxley, current MBET student, pitching for Jtcipher.
Charles Huxley and Tom Kizito receiving 3rd Place Graduate Track prize for Jtcipher.
Olajide Adefila, current MBET student, pitching for ExtendiHealth.
The Conrad School congratulates all MBET students who represented the University of Waterloo at the BMO Apex Startup Challenge and thanks the event organizers, judges, sponsors, and volunteers for creating an exceptional national platform for emerging entrepreneurs.
Featured images: Conrad School MBET students. Credit: UNB Media Services.