OTTAWA, ONTARIO--(Marketwire - Nov. 16, 2012) - Already making a name with its leading-edge structural integrity technology, Ottawa's Giatec Scientific is cementing its future with $150,000 from Ontario Centres of Excellence (OCE) to bring its revolutionary portable concrete analyzer to market.
The money, which is awarded under OCE's Market Readiness program, will be used to further develop the iCOR™ hand-held device which can detect areas of deterioration in concrete structures before it happens.
"Giatec is finding solutions to increasingly common and potentially life-threatening problems associated with aging infrastructure," said Dr. Tom Corr, President and CEO of OCE. "We are proud to continue supporting this made-in-Ontario innovation."
Based on 10 years of award-winning academic research at Carleton University, the iCOR™ device provides an unprecedented level of accuracy, dramatically reducing maintenance costs and improving safety. Giatec's technology detects problems in existing concrete structures much earlier than other methods and can predict the rate of future deterioration.
"Ontario's colleges and universities are producing some of the most innovative products anywhere in the world and Giatec is proof of that," said Brad Duguid, Minister of Economic Development and Innovation. "With OCE's support, this device will be taken to the next level."
The company also received a $50,000 loan under the Centre for the Commercialization of Research (CCR) Embedded Executive program to help in the commercialization of Giatec products.
"The support from OCE and CCR is about more than just the funding," said Aali Alizadeh, CEO of Giatec Scientific. "The expertise and experience from our business development advisor, Dr. Philippa King, and the help to refine our business model, set-up meetings with potential clients, write applications and establish processes have all been invaluable."
In addition to OCE and CCR support, Giatec is working with Invest Ottawa, the local Regional Innovation Center, through its Business Accelerator program. OCE and Invest Ottawa, along with other partners such as the National Research Council's Industrial Research Assistance Program are helping Giatec become one of the businesses to watch in Ottawa.
The company's technologies are already being recognized as industry-leading and are being utilized in the forensic examination of the tragic mall roof collapse in Elliot Lake, Ontario.
About Ontario Centres of Excellence (OCE) Inc. (www.oce-ontario.org)
Ontario Centres of Excellence (OCE) Inc. 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 governments. OCE's Centres work in communications and information technology, earth and environmental technologies, energy, materials and manufacturing and photonics. OCE is funded by the government of Ontario and is a key partner in delivering Ontario's innovation Agenda as a member of the province's Ontario Network of Excellence (ONE). OCE through its Centre of Commercialization of Research (CCR), an initiative supported by the federal government, also acts as a catalyst which allows innovative business to grow and achieve sustainable, commercial success and global competitiveness.