WATERLOO REGION, ON, July 30, 2013 /CNW/ - Companies from across Canada have been exposed to more than $20M in international business opportunities and investment thanks to the Canadian Digital Media Network (CDMN) Soft-Landing Program. Since the program's inception, participants have now closed more than $3M in new business and investment of that, with more to come. In partnership with its commercialization hubs across Canada, the CDMN announced today that it will accept applications for 10 more companies to participate in the next round of the Outbound Soft-Landing program.
"Since its launch, we have seen the CDMN Soft-Landing Program help Canadian startups and mid-sized companies take their businesses global," said Kevin Tuer, CDMN Managing Director. "The program is generating a more than 25x return on the investment made. The 29 companies that have gone through the program report new opportunities and sales, established key partnerships and connections, showing that even modest funding at a critical time for a Canadian business can have tremendous impact. We are excited to be able to extend the opportunity to participate in the Soft-Landing Program to 10 more deserving companies on the cusp of international business success. And we look forward to Canada reaping the rewards of company, job, and wealth creation that comes as a result of these landings."
Companies have landed across the globe including Brazil, China, Australia, Singapore, Germany, United Kingdom, Jordan, Costa Rica and across the United States. Some of the success stories from the CDMN Soft-Landing program include Authintic, Awesense, Cyborg Trading, Magnet Forensics, Mantry, Picatic, The Media Merchants, Voices.com, Weever Apps.
Past participants have forged important connections that have led to new customers, international media coverage, investment and the creation of new jobs.
"I would recommend the [Soft-Landing] Program to anyone landing in a foreign country," said Reggie Milligan, Co-founder, Mantry. "I don't think we would have otherwise made the connections that we did. All of that happened because we were in New York City and we could walk into their offices and make real connections."
"We were so fortunate to be able to get the best of both worlds and it's because of CDMN," said Picatic's Community Client and Service Consultant, Nicole Parmer. "The initial funding really softened the blow and the rewards were amazing! We were able to hire a new programmer...we're in the midst of a relaunch... we brought so many great ideas back... and we're opening a new space in Vancouver. The impact of the connections made will continue to trickle in over the next 12 months."
Ideal candidates to participate in the Outbound Soft-Landing Program are mature Canadian startups and small to medium-sized enterprises (SMEs) that are generating revenue already and have goals of growing their customer base, opening a satellite office, or developing distribution channels or secure partnerships. Through this type of landing, Canadian companies looking to expand in foreign markets anywhere in the world can qualify for up to three months of residency in partner facilities equipped to support their growth, plus up to $4,000CDN for transportation and hotel costs.
"From the application process to connecting us with the German embassy, the [Soft-Landing] Program provided a great way to leverage the European network, or really any network you're looking to get into," said Magnet Forensics CEO Adam Belsher.
Application close August 20th for companies from across Canada looking to participate in soft landings outside the country between September 17 and December 31, 2013. Companies can apply through the 24 CDMN hub members that assist in facilitating the application and provide mentorship for the participants. From the applications received, the CDMN will select 10 companies to participate in this round of landings.
CDMN also supports an Inbound Soft-Landing program for promising international companies looking to establish their businesses in Canada, and companies that have participated include Fluorologic; and Koning.
For more information on the CDMN Soft-Landing Program, visit http://softlanding.cdmn.ca.
About The Canadian Digital Media Network
The Canadian Digital Media Network (CDMN) www.cdmn.ca, a federal Centre of Excellence in Commercialization and Research (CECR), is dedicated to establishing Canada as a world leader in digital media (ICT + mobile) by creating and enabling connections and collaboration between entrepreneurs, companies, research institutes, government and intermediary organizations across the country. CDMN helps bring more digital media solutions to market to create more companies, jobs and wealth in Canada. Follow @CDMN on Twitter, join the Canadian Digital Media Network Group on LinkedIn and like the Canadian Digital Media Network Page on Facebook.
CDMN, Canadian Digital Media Network and the CDMN logos are trademarks. The names of actual companies or products mentioned herein may be the trademarks of their respective owners.
SOURCE: The Canadian Digital Media Network
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Marketing Director, CDMN