Vote for Quebec's finalist for the $100,000 BDC Young Entrepreneur Award
QUEBEC CITY, June 3, 2015 /CNW/ - The Business Development Bank of Canada (BDC) announced today that the turning-point project "To the Test," submitted by local businessman Olivier Marcotte, will represent Quebec in the finals for the 2015 BDC Young Entrepreneur Award.
Olivier's project will help his company, Nucleom Inc., take advantage of new opportunities to expand across Canada and in global markets with its non-destructive testing and inspection services for critical infrastructure such as nuclear reactors. To claim the BDC Young Entrepreneur Award $100,000 grand prize and fund this project, Olivier needs votes from Canadians from coast-to-coast.
Infrastructure such as nuclear reactors and pipeline networks are critical to the supply of power and energy needed to support economic activity and to support a reasonable standard of living in many regions of the world. As a young engineer, Olivier started his company with a Hydro Quebec consultant contract at the Gentilly-2 Nuclear Generating Station, specializing in procedures, equipment and training required to inspect and test this kind of infrastructure to ensure its safe and optimal operation.
"Non-destructive testing is a very specialized field in which technicians and engineers use x-rays, ultrasonics and other methods to test the integrity of materials and built structures you just can't examine with the naked eye," Olivier says. "We've already proven our methods and technology with Canada's CANDU reactor technology around the world and we are now ready to transfer this expertise to other fields, such as petrochemical."
Nucleom has grown from a one-man consultancy into a global player with about 20 full-time employees. The Ontario market, with its large nuclear power industry, has come to represent about 80% of its business. However, Olivier sees tremendous contract opportunities ahead across Canada's energy sector, as well as overseas in Asia, Eastern Europe and South America.
To successfully tap into new markets, Olivier must invest in new specialized technology, further develop the skills and expertise of his team, and consider locations for new satellite offices closer to new customers. Success could see revenues surge by as much as 50% in the coming year, and by 30% annually for several years following. It could also double the size of Nucleom's highly skilled workforce, creating more career opportunities for technicians and engineers in Quebec.
"Each of this year's finalists has provided a compelling story about how their business stands at that crucial crossroads where the right mix of vision and action can secure future growth and success," says Michel Bergeron, Senior Vice President, Marketing and Public Affairs at BDC. "Olivier is building on Canada's proud legacy of innovation in areas such as nuclear power to showcase our technological expertise on the global stage and create jobs in Quebec's knowledge-based economy."
"Nucleom has reached that critical point where we have to shift gears to take advantage of opportunities to grow," says Olivier. "We have proven ourselves as a trusted resource in a field where there is no room for compromise regarding rigour and accuracy. Vote for us so we can continue to ensure people everywhere can have confidence in the critical infrastructure they rely on."
Voting for the 2015 BDC Young Entrepreneur Award contest runs from June 3 to June 17. To support your favourite project, log onto the contest microsite and vote once a day. Follow the contest through updates on Facebook, Twitter and LinkedIn. Visit bdc.ca/awards to learn about other ways in which BDC recognizes Canadian entrepreneurs. The BDC Young Entrepreneur Award winner and runner-up will be announced on June 22. The runner-up will receive $25,000 in consulting services.
About the BDC Young Entrepreneur Award contest
Created by the Business Development Bank of Canada in 1988, the BDC Young Entrepreneur Award contest pays tribute to remarkable Canadian entrepreneurs between 18 and 35 years of age. Ten finalists were selected to compete for a $100,000 grand prize. A second prize of $25,000 in consulting services will be awarded to the contest runner-up. A national committee evaluates the quality of the finalist projects and gives each finalist a ranking that will be combined with the public vote. In 2015, the national committee evaluation is weighted to account for 50% of each project's final ranking, and the public vote will account for the remaining 50% of the ranking. www.bdc.ca/yea
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 loans, consulting services, growth and business transition capital, securitization, as well as venture capital to more than 30,000 small and medium‑sized companies. Their success is vital to Canada's economic prosperity. To learn more, please visit www.bdc.ca
SOURCE Business Development Bank of Canada
For further information: Maria Constantinescu, Senior Advisor, Public Relations, BDC, [email protected], (514) 496-7146