Portfolio clients with the Regional Innovation Centre for Ottawa and Eastern Ontario net $18.3 million of funding so far this year

New investments help Eastern Ontario entrepreneurs grow emerging companies in Information Communication Technology (ICT), life sciences, clean technology and digital media sectors

The demand for commercialization support is at an all-time high in Ontario.  Since beginning operations in 2007 as the OCRI Investment and Commercialization Group, then expanded with an Eastern Ontario mandate in 2010 as the Regional Innovation Centre for Ottawa and Eastern Ontario, the Centre’s team has provided services to more than 750 companies, and helped to leverage more than $100 million of investments into portfolio companies.

“Our regional innovation centre is a tremendous asset to all of Eastern Ontario,” says Bruce Lazenby, President and CEO of OCRI. “I also see it as a catalyst to attract more and varied funding sources. The fact is Ottawa’s got the highest concentration of knowledge-based talent in Canada, and that’s a tremendous draw for the wider entrepreneurial community.”

“As we move into 2012 our team is going to be working hard to continue to build our portfolio companies, and get the word out to the Eastern Ontario business community that a next-generation roster of knowledge-based companies are succeeding on a global basis,” says Michelle Scarborough, Managing Director of the Regional Innovation Centre for Ottawa and Eastern Ontario. “We are entrepreneurs helping entrepreneurs, and we want more of them to take advantage of our expanding capabilities.”

Those capabilities include:

• Market intelligence/Business Analysis
• Access to strategic networks including capital
• Business advisory services
• Entrepreneurship and leadership professional development

On Monday, to help launch Ottawa Entrepreneur Week, The Regional Innovation Centre for Ottawa and Eastern Ontario named its “ones to watch” Portfolio Rising Stars. The Portfolio Rising Stars companies include:

• BlackCherry Digital Media Inc. – gaming studio and digital content company
• Gazaro Inc. – real-time pricing data on the best retail deals
• Giatec Scientific Inc. ­– sensory tools for concrete durability on bridge inspections
• Guardian Mobility Corp. – portable data/tracking/communications devices for aircraft
• Impakt Protective Inc. – helmet impact sensors for contact sports
• Nova Tread ­– scrap tire recycling technology
• PatientWay Inc. – patient self-service kiosks for hospitals
• Valydate Inc. – schematic review and validation tools
• VG Omniglobe Solutions – software for defense, air traffic control and public safety
• Wedding Republic Inc. – online cash registry for weddings

About the Regional Innovation Centre for Ottawa and Eastern Ontario:

The Regional Innovation Centre is a one stop shop for start ups through emerging knowledge-based growth companies looking for programs and services designed to guide entrepreneurs, build companies and bring new products and/or services to the global marketplace. Entrepreneurs helping entrepreneurs. The Regional Innovation Centre is part of the Ontario Network of Excellence (ONE), a collaborative network of organizations across Ontario designed to help entrepreneurs commercialize their ideas. It operates with the support of its partners including the Ontario Ministry of Economic Development and Innovation and the City of Ottawa.

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 Web site at www.ocri.ca and for more information on the Ottawa Region please visit www.ottawaregion.com.  In 2010, Ottawa was named one of the world’s top seven intelligent communities by the Intelligent Community Forum (ICF).