Heliocentric receives EIOC Innovation Award
March 27, 2008
Earlier today the Ottawa Center for Research and Innovation (OCRI) announced that Heliocentric Technologies has received the EIOC Innovation Award (press release below). Heliocentric was chosen by Entrepreneurship and Innovation Ottawa to receive this award based on the company's potential for commercial success. The award was accompanied by a $5000 grant, which will be used to further our collaborative research into new detector systems with Carleton University.
OCRI's Entrepreneur's Edge (e2) alumnus receives $5,000 EIOC Innovation Award
OTTAWA, ON, March 27, 2008 - OCRI is pleased to announce that Entrepreneurship and Innovation Ottawa Corp. (EIOC) has selected e2 alumnus Heliocentric Technologies Inc. as the recipient of its $5,000 EIOC Innovation Award. These funds will be used by Heliocentric to further the commercialization of the company's transportable elemental analysis system.
Entrepreneurship and Innovation Ottawa Corp. is a private not-for-profit organization whose mission is to foster entrepreneurship and commercialization of technology in the Ottawa area thereby enabling the creation of high value jobs in the region. EIOC Innovation Awards are presented to Ottawa area entrepreneurs to assist with the commercialization of technological innovation. Heliocentric was chosen to receive this award based on the company's potential for commercial success and its potential for creating high value jobs in Ottawa.
"We are very happy to be working with OCRI's Entrepreneur's Edge program which links local innovative technology business founders with seasoned entrepreneurs and start-up veterans providing them with vital tools and insight designed to give them a head start on the road to commercialization," explains Tom Hayward, President, Entrepreneurship and Innovation Ottawa Corp. "Our EIOC Innovation Award recognizes e2 alumni who are poised for success and will leverage the funds into greater benefits quickly. Heliocentric was a unanimous decision for the board and we look forward to watching them grow."
Heliocentric was founded in 2005 with the goal of applying new technologies to create innovative solutions to known bottlenecks in traditional industries, in particular in the mineral resource industry. "I am honored to receive the EIOC Innovation Award, and I am particularly impressed by the visibility that it has generated for the company," says Daniel Faber, CEO of Heliocentric Technologies Inc. "We are currently seeking development funding, and the recognition by Entrepreneurship & Innovation Ottawa has taken our name out to a wide network of active angel investors - exactly the people we are trying to reach."
Mr. Faber explains that the financial component of the EIOC Innovation Award will be used to extend the research program with partners at Carleton University allowing them to test a novel implementation of a new detector technology. It is expected that this additional application has the potential to enhance Heliocentric's competitive advantage and extend its IP portfolio.
"Ottawa is filled with talented and innovative entrepreneurs just like Daniel who are in search of guidance, expertise and a little bit of additional help. Our e2 program coupled with the EIOC Innovation Awards is a very unique combination that serves these early stage companies very well," says Stephen Daze, Executive Director, OCRI Entrepreneurship, Innovation and Research. "We are extremely fortunate and thankful to the EIOC Board for selecting the Entrepreneur's Edge program as a conduit for supporting entrepreneurship in Ottawa thorough the EIOC Innovation Awards."
EIOC has confirmed that a second Innovation Award of $5,000 will be awarded to a selected participant from the upcoming e2 session which runs from April 14th through 18th. Registrations for the program are being accepted now. For further information about Entrepreneur's Edge and eligibility criteria for the EIOC Innovation Award please visit www.entrepreneurship.com/theedge.
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About OCRI:
OCRI (Ottawa Centre for Research and Innovation), the city's economic development corporation, is leading the way for Ottawa. OCRI is the rallying point to bring business, education, research and talent together to create the winning economic conditions that allow Ottawa's technology 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.
About Entrepreneur's Edge:
Entrepreneur's Edge (e2) is a week-long business skills boot-camp created specifically for founders and senior management of small and medium-sized technology companies. Successful, serial entrepreneurs, investors and subject matter experts impart sound business principles, share their experiences and provide guidance in a collaborative environment providing a solid grounding in the essentials for technology business success. For more information about OCRI's entrepreneur related activities please visit www.entrepreneurship.com.
For information contact:
Kim Cunningham
Manager, External Communications
OCRI
Office: (613) 828-6274 ext. 256
Cell: (613) 851-0768
kcunningham@ocri.ca