HALIFAX, Nova Scotia, Oct. 27, 2016 /PRNewswire/ -- The Lazaridis Institute has selected QRA Corp as one of Canada's most promising emerging technology companies to participate in its inaugural Canadian Scale-Up Program. QRA is based in Halifax, NS, making it the only company to be selected outside of Ontario and Quebec. The highly anticipated program will bring high-potential firms together with an elite group of experts, all of whom have experience in scaling globally competitive enterprises.
"The QRA team is at a critical point for growth; we need to scale now in order to operationally handle the many incoming clients, countries, and industries," said Jordan Kyriakidis, CEO & Co-founder of QRA. "We're really very happy, honoured, and excited to have been chosen to pilot the Lazaridis Institute Canadian Scale-Up program."
Canada is home to thousands of startups, but a recent survey from the Business Development Bank of Canada (BDC) found that only one in 1,000 Canadian small businesses grew beyond the 100-employee mark in 2013, a 40-per cent drop from 2001. Last year, only four Canadian technology companies went to IPO. These numbers do not bode well for the long term development of the tech ecosystem in Canada. The Lazaridis Institute Canadian Scale-Up Program is part of a broader effort to create conditions in Canada that will enable tech startups to thrive and grow without being bought, winding down prematurely or moving elsewhere.
The 10 technology scale-ups in the first cohort of the Canadian Scale-Up Program are:
- ARC4DIA (Montreal)
- Dozr (Waterloo)
- Intellitix (Chatham)
- Noviflow (Montreal)
- Oculys (Waterloo)
- Postbeyond (Toronto)
- QRA Corp (Halifax)
- StackAdapt (Toronto)
- The Better Software Company (Ottawa)
- Tulip Retail (Toronto)
More detail about each company can be found here.
"The quality of technology companies in Canada is extraordinary, and that was reflected in the many compelling applications we received," said Carlo Chiarello, CEO, Lazaridis Institute. "Our collective challenge is to continue to keep more companies growing in Canada by helping them as they transition into the scale-up phase. We can't wait to start working with the 10 firms we've chosen for our first year, companies who are at that critical inflection point in their evolution. We're confident that members of this cohort will take their places among the next generation of globally recognized Canadian companies."
More information on the Lazaridis Institute Canadian Scale-Up Program can be found at www.scaleupprogram.com.
About QRA Corp
QRA Corp, an emerging developer of systems and requirements engineering technology based in Halifax, NS, is accelerating the design process across industries tackling the most complex, mission and safety critical systems. By committing to solve the complexity issues in engineering that hinder innovation, QRA's tools help engineers build tomorrow's safe, secure, and incredibly powerful products. For more information, visit qracorp.com
About the Lazaridis Institute
The Lazaridis Institute for the Management of Technology Enterprises was created to support growth-oriented Canadian technology companies. Developed through investments by Mike Lazaridis and the Government of Ontario, the Lazaridis Institute helps current and emerging technology firms to scale rapidly into globally competitive enterprises. The Lazaridis Institute is based in the Lazaridis School of Business & Economics at Wilfrid Laurier University in Waterloo, Ontario, part of the Toronto-Waterloo Region Tech Corridor. We're building knowledge and networks to strengthen Canada's tech ecosystem, its current leaders and the students who'll be the leaders of tomorrow.
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SOURCE QRA Corp