Canada Economic Development

Canada Economic Development

March 06, 2012 10:15 ET

SOS Finder Inc. Receives Financial Support From Government of Canada to Commercialize Latest Innovation

SAINT-EUSTACHE, QUEBEC--(Marketwire - March 6, 2012) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that the firm SOS Finder Inc. has been granted financial assistance from the Government of Canada to bring to market its latest invention, a tracking device with strong commercial potential.

"By lending its financial support to SOS Finder, a Laurentides enterprise operating in the information technologies sector, the Government of Canada is promoting innovation and backing a project that will help vitalize the region's economy," explains Minister Lebel.

Founded in 2009, SOS Finder initially devoted its activities to research and development, which led to the design and development of the Buzz Finder, an electronic tracking device for the location of lost objects like keys, telephones and television remotes. Leaving nothing to chance, the company's directors commissioned Invention Québec and the Centre d'Innovation en Microélectronique du Québec to evaluate the device's technical and commercial feasibility. On the basis of a conclusive market study and the assurance of the product's compliance with government standards, the firm is now ready to put its commercialization strategy into operation and begin marketing its product to major retail chains in Canada and the north-east United States. The Buzz Finder attracted considerable interest at the Consumer Electronics Show in Las Vegas in January 2011, and sales prospects look promising.

The financial support from Canada Economic Development will cover the costs of activities associated with promoting this product in the United States, including producing advertising materials, participating in trade fairs, conducting prospecting missions and creating a transactional Web site.

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This financial assistance, granted in the form of a $100,000 repayable contribution, has been awarded through Canada Economic Development's Business and Regional Growth program.

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