BACKGROUNDER
January 5, 2009
SUPPORT FOR ONTARIO’S INVESTMENT ACCELERATOR FUND
“Each of these companies has created a technology with the potential to compete on the world stage. OCE knows the challenges early stage companies face trying to secure seed investment. IAF allows them to take that crucial next step, whether through product development, the recruitment of staff, or the execution of a commercialization plan so they come out of the gate ready to thrive in their markets.”
Mark Romoff, President and CEO, Ontario Centres of Excellence
"Entrepreneurs are the heart and soul of a thriving innovation ecosystem here in Ontario. MaRS is very pleased to have helped many of these companies ready themselves for the marketplace – with market research, hands-on advisory services and, in one case, incubator space at the MaRS Centre. Early-stage funding, such as IAF, is another essential contribution toward building a robust and sustainable foundation for the innovation economy in Ontario."
Ilse Treurnicht, CEO, MaRS
"Research and innovation will be major driving forces behind our economy and prosperity going forward. The eight pioneering companies we are celebrating today are shining examples of the types of businesses and sort of innovative thinking that will shape our collective future here in Ontario."
Ann Buller, President & CEO, Centennial College
"The Ontario government is well-known for its support of high tech companies. Thanks to this investment from the Ontario government, C2C will be able to develop our prototype, attract customers and create new jobs."
Chang Qing Xu, President, C2C Link Corporation
“Echologics is uniquely positioned to exploit the growing demand for non-intrusive, non-disruptive leak detection and condition assessment technologies in the water distribution market. The IAF funding will help us extend our reach by enabling increased project execution, the implementation of innovative marketing strategies and additional research and development.”
Marc Bracken, President/CEO, Echologics Engineering Inc.
“The ageing of the world's water infrastructure and the fact that on average 20 to 30 per cent of North America's water is lost to leakage has driven our strategic vision and technology development. IAF funds will help us take the company forward to aid in reducing the world’s most precious shrinking resource…water.”
Shabbir Yusuf, COO, Echologics Engineering Inc.
“Ontario's investment in IPeak Networks has accelerated our entry into new markets, expanded our list of customers and allowed us to validate our solutions across a wide range of industries. With Ontario’s assistance, IPeak has become very attractive to other venture partners.”
Matthew Williams, CTO & Founder, IPeak Networks Incorporated
“For Kneebone’s Marketing Investment Engine, IAF funding bridges the gap between the early stages of commercialization and finding strategic growth capital. Through the IAF, the province also recognizes that timing is everything and with their support we have every indication that we’ve hit the window to build leadership and scale in our fast growing category.”
Wendy Robertson, Co-Founder/CEO, Kneebone Inc.
"This year promises to be our strongest one yet again, and we're happy to be partnered with the province of Ontario for this exciting time at Nulogy."
Jason Tham, CEO, Co-founder, Nulogy Inc.
"Nulogy is excited to have the support of the province as it will be immensely valuable in helping us carry forward the great momentum we have been building this year."
Kevin Wong, CTO, Co-founder, Nulogy Inc.
"We're very appreciative of the province's confidence in our company through IAF's investment. These funds will allow us to hire the personnel required to protect our intellectual property, expand our energy efficiency products and enter into large U.S. markets."
Mark Kerbel, President & CEO, REGEN Energy Inc.
"Skymeter went through a very professional and rigorous evaluation process before receiving support through the IAF. It is good to see the province stepping in to professionally finance Ontario businesses at a crucial stage in their growth when it is conventionally challenging for Ontario-based firms to find private funding."
Kamal Hassan, CEO, Skymeter
"The Investment Accelerator Fund helped Sysomos to refine their investment pitch. Subsequently IAF aided Sysomos to attract further investment through the investment network in the accelerator fund."
Nick Koudas, CTO, Co-founder, Sysomos
See also:
- News Release: Ontario Supports Innovation
- Backgrounder: Supporting New Ontario Companies Through The Investment Accelerator Fund
