Company's product has potential to revolutionize the way people interact with technology
OTTAWA, May 22, 2014 /CNW/ - The Business Development Bank of Canada (BDC) and the Canadian Venture Capital Association (CVCA) are pleased to name Mirametrix, a software company that specializes in human computer interaction, the inaugural winner of the BDC Innovation Award. The award recognizes an early-stage Canadian company that has demonstrated the ability to bring innovation to market, reshaping a sector or industry in a new or unexpected way.
"We bring to market a novel way to interact with laptops, tablets and other devices, creating a world of new opportunities in usability, security, learning, gaming and entertainment," said Denis Lavallée, CEO of Mirametrix. "More than 2 billion units of electronic products are sold worldwide on an annual basis. This award is a great validation of our go-to-market strategy and our potential for fast growth."
Launched in 2011, Mirametrix makes true natural user interaction (NUI) with computers and electronic devices a reality through the integration of gaze tracking functionality with other input modalities – such as touch and gesture/voice recognition. The company is one of the first portfolio companies of TandemLaunch in Montreal, a company creation platform recently supported by BDC Venture Capital.
"Canada's entrepreneurs are driving new ideas that can bring valuable businesses solutions to market," said Maxime Bernier, Minister of State (Small Business and Tourism) (Agriculture). "In an increasingly competitive world, innovation is an essential ingredient to any entrepreneur's success. This Innovation Award, created as a part of Canada's Economic Action Plan 2013, is one of the ways the Government of Canada recognizes our country's exceptional business innovators."
Jérôme Nycz, Executive Vice President of Subordinate Financing and Venture Capital at BDC, added: "Standing out in a competitive industry is never easy. The gaze tracking solution developed by Mirametrix has the potential to transform the way we currently interact with devices much in the same way the mouse did in the early 1980s. The opportunity for disruption is massive."
"What impressed me about the team at Mirametrix was their ability to develop such a highly innovative solution in the rapidly emerging market of natural user interaction," said Peter van der Velden, President of the CVCA and Managing General Partner of Lumira Capital. "Their innovative solution is quickly gaining traction with thought leaders and key customers."
Mirametrix expects the technology will be readily accessible to the public in less than two years. The company's software is currently used by more than 250 clients in 42 countries, including global leaders in higher education like Stanford, Harvard and McGill University, as well as market leaders in software and gaming like Microsoft and Sony.
More details can be found at www.bdc.ca/awards.
Canada's business development bank, BDC, puts entrepreneurs first. With almost 2,000 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital and consulting services to more than 28,000 small and medium-sized companies. Their success is vital to Canada's economic prosperity.
About CVCA - Canada's Venture Capital & Private Equity Association
The CVCA - Canada's Venture Capital & Private Equity Association was founded in 1974 and is the association that represents Canada's venture capital and private equity industry. Its over 2000 members are firms and organizations which manage the majority of Canada's pools of capital designated to be committed to venture capital and private equity investments. The CVCA fosters professional development, networking, communication, research and education within the venture capital and private equity sector and represents the industry in public policy matters. www.cvca.ca
SOURCE: Business Development Bank of Canada
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