Toronto, ON (November 14 , 2013) – Fomrarum has been awarded the SmartStart Seed Fund by the Ontario Centres of Excellence (OCE). Aside from the very valuable financial assistance provided by this fund, Formarum will benefit from an enhanced partnership between Ontario Centres of Excellence and Extreme Startups.
“I’m pleased that, teaming up with Extreme Startups once again, we will help accelerate the growth of six next-generation technology companies in Ontario,” said OCE President and CEO Dr. Tom Corr.
Over the next 12 months , Formarum will work with OCE and Extreme Startups to complete and commercialize its breakthrough swimming pool water disinfection technology.
In partnership with Extreme Startups, Ontario Centres of Excellence (OCE) has launched the newest round of the SmartStart program, which will provide much-needed support to six early-stage ventures to take their business to the next level.
“We are very proud and excited about this new opportunity and support. This type of financial and business support is exactly what will make Ontario the next great hub for innovation and technology companies,” said Fomrarum CEO and Founder, Seyed Nourbakhsh.
Formarum is a Canadian Corporation centered on an award-winning water disinfection device that has received positive acclaim and support from the industry and government. This device is an automatic water sanitizer for recreational water bodies with the ability to reduce Chlorine consumption by up to 90%. Our system enables consumers to reduce maintenance time and operation cost while eliminating the health hazards of pool chemicals and providing a comfortable and enjoyable swimming experience.
About Ontario Centres of Excellence (OCE) Inc. (www.oce-ontario.org)
Ontario Centres of Excellence (OCE) drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario’s global competitiveness. In doing this, OCE fosters the training and development of the next generation of innovators and entrepreneurs and is a key partner with Ontario’s industry, universities, colleges, research hospitals, investors and government ministries. A champion of leading-edge technologies, best practices and research, OCE invests in sectors such as advanced health, information and communications technology, digital media, advanced materials and manufacturing, agri-food, aerospace, transportation, energy, and the environment including water and mining. OCE is a key partner in delivering Ontario’s Innovation Agenda as a member of the province’s Ontario Network of Entrepreneurs (ONE). Funded by the Government of Ontario, the ONE is made up of regional and sector-focused organizations and helps Ontario-based entrepreneurs and industry rapidly grow their company and create jobs. For more information visit www.onebusiness.ca
About Extreme Startups
Extreme Startups is a leading startup accelerator that helps supercharge founder development and secure institutional seed capital. Our evolved programs provide an unrivaled combination of seed capital (up to $210K), digital product leadership education and access to a global pool of mentors. Founding investors include Extreme Venture Partners, Business Development Bank of Canada (BDC), Relay Ventures, Rho Canada Ventures and OMERS Ventures. For more information, please visit: http://www.ExtremeStartups.com.
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