Ontario Centres of Excellence Inc.

Ontario Centres of Excellence Inc.
Extreme Startups

Extreme Startups

November 14, 2013 10:08 ET

Ontario Centres of Excellence and Extreme Startups Partner to Fund Six Early-Stage ICT/Digital Media Ventures

TORONTO, ONTARIO--(Marketwired - Nov. 14, 2013) - Six early-stage tech startups will benefit from an enhanced partnership between Ontario Centres of Excellence and Extreme Startups.

"I'm pleased that, teaming up with Extreme Startups once again, we will help accelerate the growth of six next-generation technology companies in Ontario," said OCE President and CEO Dr. Tom Corr. "Through our SmartStart program, six up-and-coming firms in the area of digital media and information and communications technology (ICT) will get much-needed support to take their business to the next level."

Through this partnership, these firms will receive $30,000 from OCE's SmartStart Program, which is funded through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), and $30,000 from Extreme Startups, Canada's premier early-stage technology accelerator.

"I'm pleased that we are able to help these companies become even more competitive in today's economy," said the Honourable Gary Goodyear, Minister of State for FedDev Ontario. "By investing in entrepreneurs who are advancing technological innovations in southern Ontario, we are equipping them with the tools they need to succeed while creating jobs, growth and long-term prosperity for our region."

For this particular round, OCE will provide approved student or recent graduate-led startups in the area of ICT and Digital Media with up to $30,000 in seed funding to be matched by Extreme Startups' $30,000 investment. In addition to these initial investments, BDC Venture Capital previously announced that it may invest up to $150,000 to start-ups upon completion of the Extreme Startups program. Past SmartStart rounds have not been tied to one particular sector.

"Our Advanced Track program will provide these startups with not only seed capital and the guidance to optimize their product-market fit, but also intense mentorship via our Founders Academy to accelerate their growth," said Extreme Startups' Managing Director Marcus Daniels. "This program will help improve the digital product leadership skills of recent graduates and graduate students in the science, technology, engineering and mathematics (STEM) fields."

Extreme Startups is currently accepting applications via their Advanced Track program. For program guidelines and application details visit www.extremestartups.com/apply.

OCE and Extreme Startups have already co-invested in 13 young entrepreneurs through a partnership that began in 2012.

This month, another four companies were awarded SmartStart/Extreme Startups funding.

  • Five Aces Inc. for Candid - a customer-inspired commerce platform that deploys the 250 million photos shared each day on social media to the e-commerce point of sale where they have maximum commercial value.
  • ExecNote is a sales automation platform that leverages professional social networks to uncover sales opportunities faster. We do this by empowering salespeople to listen to, educate and engage their customers online. ExecNote simplifies social selling for salespeople.
  • FameBit is a marketplace that makes it easy for businesses to find, hire and work with YouTube influencers for product and service endorsements such as product reviews.
  • SqueezeCMM is the world's most advanced content marketing performance platform. It shows enterprises the business impact of their marketing content.
An additional five companies received SmartStart funding from OCE.
  • 42 is a predictive analytics platform that leverages point-of-sale data to provide an in-depth understanding of what each person likes, so retailers have a better idea of how to engage customers.
  • Eve Medical is the medical device company behind HerSwab, an easy to use, reliable way for women to screen for the infection that causes cervical cancer.
  • Formarum has developed an automated consumer product that disinfects the water used for recreational purposes. The device can be used by owners of swimming pools, hot tubs, spas, ponds, and decorative water features.
  • Global ChipTag is an "EzPass for Parking" empowering customers to be informed of vacant parking spots on their mobile devices, and be automatically charged for the time consumed. This technology obviates the need for customers to roll down their windows, or get out of their car, to get a parking ticket or pass.
  • TrendMD Inc. is a medical trending engine that instantly delivers personalized, high impact articles to doctors. With over 2,000 new publications added to PubMed daily, TrendMD uses social media metrics and algorithmic filters to identify the few must-read articles.

In total 39 companies have been funded through SmartStart including the 17 co-funded with Extreme Startups.

About Ontario Centres of Excellence (OCE) Inc. (www.oce-ontario.org)

Ontario Centres of Excellence (OCE) drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario's global competitiveness. In doing this, OCE fosters the training and development of the next generation of innovators and entrepreneurs and is a key partner with Ontario's industry, universities, colleges, research hospitals, investors and government ministries. A champion of leading-edge technologies, best practices and research, OCE invests in sectors such as advanced health, information and communications technology, digital media, advanced materials and manufacturing, agri-food, aerospace, transportation, energy, and the environment including water and mining. OCE is a key partner in delivering Ontario's Innovation Agenda as a member of the province's Ontario Network of Entrepreneurs (ONE). Funded by the Government of Ontario, the ONE is made up of regional and sector-focused organizations and helps Ontario-based entrepreneurs and industry rapidly grow their company and create jobs. For more information visit www.onebusiness.ca

About Extreme Startups

Extreme Startups is a leading startup accelerator that helps supercharge founder development and secure institutional seed capital. Our evolved programs provide an unrivaled combination of seed capital (up to $210K), digital product leadership education and access to a global pool of mentors. Founding investors include Extreme Venture Partners, Business Development Bank of Canada (BDC), Relay Ventures, Rho Canada Ventures and OMERS Ventures. For more information, please visit: http://www.ExtremeStartups.com.

Contact Information