Using Artificial Intelligence to Make Informed Business Decisions
News Release
Cape Breton firm develops new software to analyse brand impact
January 23, 2018 – Membertou, NS – Atlantic Canada Opportunities Agency
Businesses will benefit from new software being developed by Cape Breton-based Orenda Software Solutions Inc. (Orenda) thanks to an investment from the Government of Canada. Supporting the growth of this local start-up will result in leading edge artificial intelligence (AI) software solutions that will enable business leaders to better understand how consumers view their brand in real-time. This valuable insight will help them make informed business decisions to expand, grow the economy and create more middle-class jobs for Canadians.
The Honourable Mark Eyking, Member of Parliament for Sydney-Victoria, was at the Membertou Trade and Convention Centre today on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA) to announce $200,000 for the information and communications technology (ICT) company. The funding is a conditionally-repayable investment being provided through ACOA’s Business Development Program.
Orenda is expanding its existing cloud-based intelligent software service that interprets what people are saying online about an organization and provides real-time alerts to subscribers when an issue affecting their brand requires immediate attention. The data delivered to subscribers provides specific brand analysis in key consumer categories that foster positive reputation management, including: trust; satisfaction; commitment; character; exchange of benefits; and, social responsibility.
This investment builds on commitments made by the Government of Canada and the four Atlantic provinces to drive economic growth in the region through the Atlantic Growth Strategy. The strategy supports investments in projects that foster greater business innovation, the scaling up of small firms, and the commercialization of research that increases the use of AI.
Quotes
“AI's new frontiers are providing a better understanding of consumer choices and enabling businesses to benefit by making informed decisions. Today’s investment supports the growth of Canadian-made technology and encourages the sustainability of a stronger ICT sector in Canada, and in the international marketplace.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“Orenda Software Solutions is changing the way its clients manage their brands and interact with consumers. This investment will ensure that Orenda can continue to forge paths in AI and expand its networks.
- The Honourable Mark Eyking, Member of Parliament for Sydney-Victoria
“With this financial support, we will continue to invest in Orenda AI, and machine learning technologies to deliver alternative data and predictive analytic solutions. Orenda has gained the attention of the FinTech industry in Boston, which led to partnerships with North America’s two biggest data partners. We are proud to call Membertou Orenda’s home, and to be part of Canada’s growing AI sector.”
- Tanya Seajay, Founder and CEO, Orenda Software Solutions Inc.
Quick Facts
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Established in 2015, Orenda Software Solutions Inc. is headquartered in Membertou, Nova Scotia, where it has four full-time positions.
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From March 2016 to May 2017, Orenda was selected to join the IBM Innovation Space in Toronto, and then was accepted to the FinTech Sandbox in Boston, MA.
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In 2016, Orenda won a $100,000 prize in Innovacorp’s I-3 Technology Start-up Competition.
Contacts
Alex Smith
Director of Communications and Outreach
Atlantic Canada Opportunities Agency
Phone: 902-426-9417 / 902-830-3839 (cell)
E-mail: alex.smith@canada.ca
Tanya Seajay
Founder, CEO
Orenda Software Solutions Inc.
Phone: 902-565-8171
E-mail: tanya@orendasolutions.com
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