May 9, 2013 (Ottawa, ON) – Wavefront, Canada’s Centre of Excellence for Wireless Commercialization and Research, today announces the initial results of its international market entry program, providing Canadian wireless companies with the support and funding needed to successfully enter new markets. Funded through the Global Opportunities for Associations (GOA) program and in partnership with Foreign Affairs and International Trade Canada (DFAIT), Wavefront facilitated nine trips abroad with 45 Canadian companies over the past two years. Many companies that have participated in Wavefront’s market entry program have identified immediate, qualified business leads, as well as longer-term business opportunities with tier one mobile operators and large multinational organizations.
Wavefront market linkage trips have reached high growth markets spanning Europe, the Middle East, Africa, Asia, and South America, and industry segments including machine to machine (M2M), mobile media, and carrier solutions. In partnership with the Trade Commissioner Service, Wavefront identifies and validates prospective customers, partners and suppliers in countries of interest, and then brokers in-market introductions to Canadian firms, helping facilitate faster entry into these new markets.
“For many Canadian wireless companies, identifying and connecting with critical international partners is one of the largest barriers to growth,” says James Maynard, President and CEO, Wavefront. “Through the support of the GOA program, international trade commissioners and Export Development Canada (EDC), our market entry program has helped to address this issue, providing Canadian companies with inroads into new international markets. This is required to help Canada grow its share of the global wireless sector.”
Among the companies that have participated in Wavefront’s market entry program is Semios, a Vancouver-based company developing pheromone-based pest control solutions. Wavefront introduced the company to critical new business opportunities in Europe and South America. These meetings helped lead to accelerated commercialization opportunities for Semios, including the installation of multiple testing sites across both regions.
Michael Gilbert, Chief Scientific Officer and CEO of Semios states, “Excellent program. I wouldn’t dream of tackling these markets on my own at this stage. The DFAIT and Wavefront teams did an excellent job of providing introductions and validating potential partners.”
Wavefront further provided international market entry support to Toronto-based Push Science, a retail application developer. Push Science accompanied Wavefront on a market entry trip to Asia, which yielded 24 one-on-one meetings with a variety of potential partners, as well as networking opportunities and trade show components.
According to Artin Youssefian, CEO of Push Science, “We accompanied Wavefront on a market entry trip to Japan that generated more than 10 qualified leads – all of which we are now pursuing. It is one of the best trips we have ever participated in. Wavefront and the Trade Commissioner Service are invaluable partners and resources for Push Science.”
“Our government is committed to growing our economy and creating good, new, high-value jobs for hard-working Canadians,” said the Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway. “Through our Economic Action Plan and targeted trade expansion efforts, we are helping our world-class industries compete and grow. The funding provided to Wavefront through our GOA program also helps our innovative ICT companies tap into new global markets.”
The positive outcomes generated by the companies that participated in its market entry program have helped to bolster the economic impact of Wavefront across Canada. On average, companies that have participated in Wavefront programs over the past four years have increased their foreign sales by more than 33% and revenues by almost 20%, and accelerated their time-to-market by four to six months. Wavefront is helping companies build a stronger wireless sector in Canada, which is helping build a stronger Canadian economy.
For more information about Wavefront’s market entry program please contact Geoff Ledingham, Wavefront Solutions Manager, at [email protected]/accelerator.
Wavefront is Canada’s Centre of Excellence for Wireless Commercialization and Research, accelerating the growth and success of wireless companies by connecting them with critical resources, partners and opportunities, to drive economic and social benefits for Canada. Wavefront products and services are available to wireless and non-wireless companies looking to leverage mobile technology. They include a comprehensive suite of accelerated commercialization and mentorship programs, international market linkages, state of the art wireless product development and testing infrastructure, and wireless training programs and events. These capabilities catalyze the growth and time to market for Canadian companies, enabling them to create more jobs, acquire new customers, and generate revenues faster. Achieving almost five-fold economic return on every dollar invested (measured in terms of GDP), Wavefront is helping to grow companies that grow a strong Canadian economy.
For more information and to join the Wavefront Community visit wavefront.ca/accelerator.