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OCE and CYBF Team Up to Support 10 Young Entrepreneurs

TORONTO, ONTARIO -- (Marketwired) -- 02/18/14 -- Ten innovative Ontario young entrepreneurs will receive up to $95,000 each over the next two years to advance their companies under a joint initiative between Ontario Centres of Excellence (OCE) and the Canadian Youth Business Foundation (CYBF).

Announced at OCE's Discovery trade show and conference last May, the CYBF-OCE Entrepreneurship Fellowship program supports entrepreneurs aged 18-39 in developing businesses around research originating in Ontario's colleges and universities. The 10 entrepreneurs were selected after a thorough application and review process.

"This group embodies the drive, enthusiasm and innovative spirit Ontario's young entrepreneurs show every day," said OCE President and CEO, Dr. Tom Corr. "We're pleased to be partnering with the CYBF to help the people behind these companies and ideas move to the next level."

Each winner will receive up to $95,000 over two years with a $50,000 OCE grant plus mentorship making up the first-year award. Financing from CYBF and the Business Development Bank of Canada for up to $45,000 will be provided in the second year.

"We are proud to be working with OCE to provide critical financing, mentoring and business coaching to these 10 entrepreneurially-minded young Canadians," said Julia Deans, Chief Executive Officer, CYBF. "These individuals have taken the key first steps towards success, to becoming job creators and community leaders, and CYBF is honoured to be part of their success."

Supporting young entrepreneurs is a key priority for the Government of Ontario.

"The continued prosperity of our province relies on the next generation of entrepreneurs having the resources they need to succeed," said Dr. Eric Hoskins, Minister of Economic Development, Trade and Employment. "Programs like the OCE-CYBF fellowship and Ontario's Youth Jobs Strategy are providing the support our province's young people need to become job creators."

The 10 winners are:

Aaron Libfeld - Physicalytics

Physicalytics gathers a variety of visitor information on people, environment and product interactions in physical locations and transforms it into insights that can streamline operations and optimize customer experience.

Alex Kolodkin - Set Scouter

Set Scouter is the first and only full-service website that connects filmmakers looking for the perfect set with location owners who are looking to rent out their space for production. Set Scouter takes the hassle out of location scouting by facilitating the process end-to-end. Filmmakers can easily book locations for their productions with one mouse click and at a fraction of the cost.

Martin Labrecque - BreqLabs Inc.

BreqLabs is commercializing a novel and innovative sensor glove device that can track very accurately and at high speed the movements of the hand. It can help provide the best computer gaming experience, implement hands-free computer access, training tools and simulators or assist people with pain or mobility limitations.

Denis Loboda - Air Xposure

Air Xposure addresses the need for easy and cost-effective aerial cinematography with their customizable gimbal and drone arrangement that allows for quick set-up and configuration to film quality aerial shots. The device may be used in a variety of locations with programmed flight routes that can be controlled by operators from the ground. Air Xposure's technology can make aerial cinematography affordable to a larger number of filmmakers without sacrificing high visual quality.

David D'Angelo - Trivium Industries

Trivium Industries is an eco-friendly company that will be the first-Canadian-based manufacturer of compostable bottles for the health and beauty, pharmaceutical and food industries. The bottles are made from a corn-based material and biodegrade at commercial composting facilities in less than 180 days.

Brian Stewart - MetricWire Inc.

MetricWire is changing the way the world conducts research by providing a suite of tools for collecting, analyzing, visualizing and sharing data. The company's primary product offering is a web-based application that allows users to conduct longitudinal, context-aware studies via a smartphone. What SurveyMonkey did to online surveys, MetricWire is doing to smartphone-based research.

Richard Liang, University of Waterloo

Liang's project aims to commercialize an all-in-one optical fibre sensor technology for the simultaneous monitoring of gas/liquid concentration, pressure and temperature in oil and gas wells and pipelines. This innovative system will result in higher production efficiency and higher yield at lower energy cost, and allows for quick repairs and less lost production time.

Alroy Almeida - Voltera Inc.

Voltera aims to eliminate the frustration hardware developers experience in the fabrication of prototype circuit boards by developing a device that prints circuit boards in a matter of minutes. This desktop solution will shrink the hardware development cycle from weeks into days.

Elizabeth Nenniger - DraftingSPACE

DraftingSPACE is an automated floor plan layout generation tool. It has application in the fields of interior design, architecture, home staging, video game design, and cg movie sets. Upon entering the desired furniture for a space and its dimensions, the tool will automatically generate the possible layouts of furniture within the space at a quality comparable to a designer. In a matter of seconds, this automated process allows design professionals to complete work that would normally take them several hours.

Adam McKinty - Ruthenika

Ruthenika makes small molecules to help solve some of the world's big problems. Every day, people use products that have been made by catalysts; from the rubber on the soles of your shoes to the plastic bag you use to carry your groceries home to the fuel you put in your car. Ruthenika provides catalyst technologies aimed to streamline chemical synthesis in turn reducing costs and environmental impact for a variety of industrial processes.

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 Canadian Youth Business Foundation

The Canadian Youth Business Foundation (CYBF) is a national non-profit organization dedicated to growing our nation's economy one young entrepreneur at a time. We look at character, not collateral, when providing youth aged 18-39 with pre-launch coaching, business resources, start-up financing and mentoring to help them launch and sustain successful businesses. CYBF has been recognized as a global leader in advancing youth entrepreneurship, is a founding member of the global G20 Young Entrepreneurs' Alliance (G20 YEA), the Canadian member of the Prince's Youth Business International, and the Canadian Host of Global Entrepreneurship Week (November 18-24, 2013). Visit www.cybf.ca.

Contacts:
Media contact:
Stuart Green
Manager, Media Relations
416-861-1092 x 1022
stuart.green@oce-ontario.org

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