The Canadian technology sector seems to reach milestones all the time now, and this week is no different.
The Canadian Digital Media Network (CDMN) announced they have accepted 41 companies into their fall 2017 cohort of the Soft Landing program, which means they have reached the milestone of helping Canadian tech companies scale their businesses in international markets over 500 times since its inception in 2012.
The CDMN Soft Landing program helps startups and small-to-medium sized companies grow their reach outside of Canada by getting them to travel and operate in new markets, close international sales, secure investments and liaise with new investors abroad.
Throughout the five years, the Soft Landing has operated, 513 landings took place in 52 countries helping 380 companies close over $53 million in new revenues and $55 million in investment.
“The CDMN Soft Landing program helped to fund a trip to the USA where we were able to secure key partnerships, resulting in cost savings and increased revenue for our company,” said Ryan Hickey, COO of Eleven-X, who landed in Las Vegas in 2016. “Meeting our partners face-to-face strengthened our relationship and lead to favorable deals and accelerated growth.”
Companies are allowed to have multiple landings abroad, as Eleven-X will head to Suzhou, China this year for its second time through the program. The company focuses on smart cities applications for IoT.
Candidates in Soft Landings can get up to $4,000 in reimbursable expenses. This money goes towards basic things that a lot of smaller companies may not be able to afford sometimes like travel, accommodation or just low-level business costs. If a company is working out of an incubator, accelerator or co-working space, those costs can be covered for three months as well.
“Canadian companies participating in the program realize the importance of reaching international markets to scale their businesses,” said Avvey Peters, managing director at Canadian Digital Media Network. “They make meaningful connections with customers and investors in global markets, helping them to grow.”
CDMN Soft Landing is supported through the Canadian government and the Centres of Excellence for Commercialization and Research program (CECR).
If you think your company fits the bill and you want to enroll, look for the next cohort in coming months.