September 25, 2009, Ottawa, Ontario
An award-winning software development, publishing, and consulting company in Nova Scotia is getting support to develop new products that will benefit educators and entrepreneurs. The funding announcement for MediaSpark Inc. was made today by the Honourable Peter MacKay, Minister of National Defence and Minister for the Atlantic Gateway, on behalf of the Honourable Gary Goodyear, Minister of State (Science and Technology).
"Our government is investing in science and technology to create jobs, strengthen the economy and improve Canadians' quality of life," said Minister MacKay. "This project will allow a Cape Breton company to bring new software to market that will help businesses, trainers and educators, which will be good for the local economy."
This $438,478 contribution from the National Research Council Industrial Research Assistance Program (NRC-IRAP) will support the Sydney-based company in researching and developing innovative new products to expand its educational games and simulations product line.
"Investing in science and technology is critical for developing highly skilled people and improving the long-term competitiveness of Canadian firms," said NRC President Dr. Pierre Coulombe. "That's why NRC-IRAP is helping innovative Canadian businesses such as MediaSpark grow stronger, faster and bigger."
"NRC-IRAP is playing an important role in the success of our company," said Mathew Georghiou, CEO of MediaSpark. "The financial support we are receiving from NRC-IRAP will help us continue to be at the forefront of the revolutionary change that is happening in the education and training industries around the world."
About NRC and NRC-IRAP
The NRC Industrial Research Assistance Program (NRC-IRAP) provides a range of both technical and business-oriented advisory services along with necessary financial support to qualified innovative Canadian small- and medium-sized enterprises.
The program is delivered by a field staff of 240 professionals in more than 100 communities across Canada. NRC-IRAP is committed to working with small- and medium-sized enterprises while they realize their full potential, turning knowledge and innovation into strategic opportunities, jobs and prosperity for all Canadians.
The Government of Canada's Economic Action Plan has provided new resources of $200 million over the next two years to increase NRC-IRAP's support for innovative Canadian firms. To learn more about Canada's Economic Action Plan, visit www.actionplan.gc.ca.
National Research Council Canada Industrial Research Assistance Program (NRC-IRAP)
NRC's main outreach to small- and medium-sized enterprises (SMEs) is through its Industrial Research Assistance Program (NRC-IRAP) which provides support to innovative companies in Canada undertaking research and technology development projects for commercial purposes.
NRC-IRAP provides a range of both technical and business-oriented advisory services along with necessary financial support to qualified innovative Canadian small- and medium-sized enterprises. The program is delivered by a field staff of 240 business and technology experts in more than 100 communities across Canada. Working directly with SMEs, NRC-IRAP supports innovative research and development (R&D) and helps companies become commercialization-ready with their new products and services.
While the program operates three separate contribution programs - contribution to firms, contribution to organizations and a Youth Employment Program - NRC-IRAP's main contribution component is in the form of a non-repayable contribution that reimburses the labour costs of a research and development project directly to firms.
Putting science to work for Canada
NRC-IRAP received an investment in Budget 2009 - Canada's Economic Action Plan - of $200 million over the next two years. NRC-IRAP is committed to using this new funding to help the Government build a competitive advantage for Canada based on excellence in science and technology (S&T).
The funding includes $170 million to double NRC-IRAP's contributions to firms and $30 million to help hire more than 1,000 new post-secondary graduates via its Youth Employment Program.
The budget commitment reinforces NRC-IRAP's mandate to help SMEs take knowledge from the lab to the marketplace. The budget commitment also broadens NRC-IRAP's ability to provide S&T expertise to SMEs. NRC-IRAP estimates this will enable it to provide larger contributions to firms per project and allow it to support approximately 1,400 additional SMEs beyond the annual base over the next two years.
MediaSpark Inc.
MediaSpark is an award-winning software development, publishing, and consulting company, based in Sydney, N.S.
It applies the power of serious games and social networks to the subjects of business and money. Hundreds of thousands of people around the world have been educated using MediaSpark's award-winning GoVenture products. GoVenture educational games and simulations are an exciting way to develop business and financial literacy skills in people of all ages.
Using advanced experiential learning and gaming techniques, GoVenture delivers realistic learning experiences that are better, less expensive, faster, social, fun, and even addictive. GoVenture includes software simulations and applications, mobile games, board games, and social networks.
MediaSpark has been an industry pioneer for 15 years, designing, producing, and commercializing innovative solutions under its own brands or those of its clients in Canada and around the world.
Since 2002, MediaSpark has received repayable loans and financial contributions through NRC-IRAP totalling $516,478.
