June 10, 2009 11:18 ET

Cleantech, Life Science and Technology Companies Encouraged to Apply for Canada's Top 10™ Competition

OTTAWA, ONTARIO--(Marketwire - June 10, 2009) - Eligible cleantech, life science and technology companies are invited to apply to The Canada's Top 10™ Competition (http://www.topcanadiancompanies.ca/). Now in its 10th year, Canada's Top 10™ Competition promotes the 10 most promising companies from each of the following three sectors: life science, cleantech and technology, from across Canada to Canadian and international investors and partners. Winners are chosen by an independent expert panel of Canadian and U.S. venture capitalists.

"At OCRI we believe strongly in the value of partnerships and forging new relationships that lead to successful collaborations" explains Claude Haw, President and CEO, OCRI. "Canada's Top Ten™ Competition helps the best early stage companies from three key sectors make important connections with potential investors and strategic partners from Canada, the U.S. and around the world. The financial challenges faced by emerging companies can be mitigated by being fully prepared to meet key investors at the right time. In addition to celebrating Canadian success stories, this competition helps make those connections for the winners."

Winning companies receive exposure to international investors and industry insiders. Current winners and alumni have secured more than $522M in venture capital financing. Winners and alumni have access to:

- coaching clinics;

- investment forums and road show to expose Canada's elite companies to U.S. and Canadian VC investors, licensing executives and potential strategic partners;

- ongoing support for business development and investment readiness; and

- an opportunity to present at this year's Ottawa Venture & Technology Summit (OVTS).

In May, I Love Rewards Inc., one of Canada's Top 10™ Technology companies in 2008 and North America's fastest growing rewards and recognition program provider announced that it secured $6.9 million in Series B financing led by GrandBanks Capital, a Boston-based venture capital firm. Razor Suleman. Founder and CEO says "Participating in Canada's Top 10 for the past two years was key in helping I Love Rewards prepare for and secure a successful series B financing round with a U.S.-based venture capital firm."

To be eligible, applicants must:

- be a life sciences, cleantech or technology company incorporated in Canada with head office in Canada;

- be either a private company or a public company with a market capitalization no more than $150 million;

- be actively seeking financing (equity or debt) between $2 million and $50 million and/or strategic alliances; and

- submit a complete application including business plan summary and financial information.

Applications will be accepted beginning June 10, 2009 until July 31, 2009. Winners will be announced in September. Additional information, full criteria and the application form can be found at www.topcanadiancompanies.ca

About OCRI:

Leading the way for Ottawa, OCRI is the city's economic development agency. OCRI is the rallying point to bring business, education, research and talent together to create the winning economic conditions that allow Ottawa's knowledge-based companies to thrive locally and compete globally. At OCRI we promote sustainable economic development to maintain our high quality of life. For more information on OCRI visit our website at www.ocri.ca and for more information on the Ottawa Region please visit www.ottawaregion.com.

Contact Information

  • OCRI
    Kim Cunningham
    Manager, External Communications
    613-828-6274 ext. 256
    Cell: 613-851-0768