Backgrounder: Financial support for projects by E-180, Rheolution and SmartHalo Technologies

The following information is in addition to the news release issued on February 12, 2020, on CED’s financial assistance and the recipient businesses and their respective projects.

Overview

• Four projects supported by CED
• $600,000 in financial contributions from CED
• $2,562,400 in total investments generated
• 16 jobs created

Details

E-180 Inc.

E-180 Inc. is a young, innovative business founded in 2011 by Christine Renaud and Alexandre Spaeth. Christine is a graduate of the Harvard Graduate School of Education. The business has developed and is marketing a web platform and mobile sharing and collaborative peer learning application, Braindate. This application is used during business events and trade fairs. It aims to connect users during business opportunities and to encourage knowledge sharing.

CED’s first contribution (2017-2019) enabled E-180 to develop and implement a marketing strategy for its platform internationally, mainly in North America and Europe. This recent contribution (2019-2022) will enable E-180 to now develop business opportunities for its Braindate platform in Europe and Asia.

These projects will lead to the creation of 5 jobs.

CED funding: $350,000 (repayable contribution*)
Total project investments: $1,132,400

Rheolution Inc.

Founded in 2009, Rheolution Inc. designs and manufactures high value-added lab and industrial measurement instruments used to determine the firmness of soft biomaterials. Rheolution’s innovative, patented instruments are used mainly in R&D, quality control and production control in the biomedical (applications: tissue bioprinting, tissue engineering and medication delivery) and agri-food (applications: output optimization, product formulation and quality homogenization) industries. Rheolution has made significant, ongoing investments in R&D to develop the technology and design products.

The aim of the project is to implement a marketing plan in the U.S. and Europe, as well as to enhance Rheolution’s competitiveness and expansion through the acquisition of robotic production equipment. The project will lead to the creation of 11 jobs, attract foreign investment and enable sales representation in Europe. In 2019, exports represented over 90% of business sales.

CED funding: $150,000 (repayable contribution*)
Total project investments: $925,000

SmartHalo Technologies Inc.

Founded in November 2014, SmartHalo Technologies Inc. wants to make cycling the future of urban transportation by marketing elegant, user-centric connected accessories for cyclists. After two successful crowdfunding campaigns in 2015 and 2019 for its consumer products, the business is now interested in electric bike manufacturers, offering them a smart screen connected to the user’s cellphone.

CED’s support helped SmartHalo Technologies Inc. to start up through the implementation of a marketing strategy in the U.S. and Europe and the development of a distribution network for their first product, which among other things led to the business’s products entering Apple stores.

CED funding: $100,000 (repayable contribution*)
Total project investments: $415,000

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^{* The types of CED funding are repayable contributions, non-repayable contributions and grants.}