Waterloo Region, ON – November 7th, 2013 – Ten Canadian companies have the opportunity to expand into the Brazilian market thanks to Brazil’s Comitê Gestor da Internet (CGI) and the Canadian Digital Media Network. 6Harmonics, Busbud, ESL Explorer, fSONA Networks, Linquet, Magnet Forensics, Turnstyle, PO-MO, Xomo Digital and Zighra have been chosen to take part in a pitch-off competition with ten Brazilian companies in Sao Paulo on December 3rd, and attend the Brasil-Canada 3.0 conference taking place in Joao Pessoa from December 4th – 6th, 2013.
The program will include opportunities to meet with potential customers and investors from Brazil, as well as the ability to learn about the Brazilian market from companies with experience in country. The Canadian and Brazilian winners of the pitch-off competition will also be sponsored by OpenText to attend the Canada 3.0 conference, taking place in Calgary May 26th – 28th, 2014.
The program stems from commitments made by Prime Minister Harper and President Rouseff in 2011 to increase collaboration in the ICT sector. “Helping Canadian businesses find success in large, dynamic markets like Brazil helps create new jobs and opportunities here at home,” said Ed Fast, Canada’s Minister of International Trade. “Attending Brasil-Canada 3.0 will provide ten dynamic Canadian companies with the opportunity to expand into a market that is a priority for our government, and help us take the Canada-Brazil economic relationship and friendship to the next level.”
This opportunity is funded by the Comitê Gestor da Internet (CGI), with the goal of increasing exactly this type of collaboration. As Ricardo Sordre, CEO of the Brazilian accelerator Project-1, explains “Many large Brazilian companies are in need of technologies that are not available in country, and the wealth of startup companies and technology talent in Canada can help fill that need. At the same time, the fast-growth, high demand Brazilian market can help Canadian companies find the customers and investors necessary to facilitate growth.“
“We’re very pleased to partner with CGI and Project-1 in expanding opportunities for Canadian companies in Brazil.” added Kevin Tuer, Managing Director of the Canadian Digital Media Network “This is the logical extension of our international strategy, which has helped 47 companies enter 17 foreign markets and identified more than $30 million in new business and investment opportunities.“
“We’re very pleased to partner with CGI and Project-1 in expanding opportunities for Canadian companies in Brazil.” added Kevin Tuer, Managing Director of the Canadian Digital Media Network “This is the logical extension of our international strategy, which has helped 47 companies enter 17 foreign markets and generated more than $30 million in new business and investment opportunities.“
The ten companies were chosen out of 164 applicants by a panel consisting of Ricardo Sodre (Project 1), Kevin Tuer (CDMN) and Sid Paquette, the Director of OMERS Ventures. The diverse group comes from across the country, and includes the retail, wireless, security, education and tourism sectors. The companies selected are high growth SMEs, with average revenue of $1.3 million that is projected to increase markedly over the next year through international expansion.
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