DAILY NEWS Feb 13, 2013 7:00 AM - 0 comments

Okanagan tech group secures government funding

'Traction Program' targets companies that have validated their products

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Kelowna BC-based Accelerate Okanagan has secured a contribution of up to $200,000 through the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to deliver new programming services that will support the growth of high performing early to mid stage technology companies.

The “Traction Program” targets companies that have validated their products or services, are generating revenue and are committed to high growth. Through participation in this program, companies will receive access to executive level expertise through the embedded executive service, workshops and training opportunities with a particular focus on highly scalable business model development.

“Our experience has shown that the majority of high-tech SMEs are significantly challenged with the creation and execution of scalable business model strategies and preparing their businesses for significant growth. Companies require specific expertise and deep domain knowledge in business development processes. The Traction Program will provide a new set of expert services targeted to meet these needs,” says Jeff Keen, CEO of Accelerate Okanagan.

“Once accepted into the program, an Executive in Residence (EiR) will be assigned to the company to identify major gaps and pain points within the organization, create and deploy single focus action plans to move the company forward and provide ongoing assessment and accountability to ensure the company is meeting mutually agreed milestones,” Keen adds.

Braden Messenger, program director for Accelerate Okanagan said, “The core components of the program will centre on entrepreneurial development and education with a particular focus on scalable business model development, sales & marketing strategies and strategic planning. AO has significant in-house expertise in these areas and is well positioned to assist SMEs with their growth strategies and continued business development.”

Keen concluded with, “We are very pleased to benefit from the support of NRC IRAP on this exciting initiative because of the significant impact it will have on the participating organizations, job creation and the continued diversification of the local economy.”

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