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A business incubation success story

NEWS RELEASE SAULT STE. MARIE INNOVATION CENTRE ************************* A business incubation success story with launch of Veracity The Sault Ste. Marie Innovation Centre (SSMIC) is proud to announce the graduation of Sault Ste.

NEWS RELEASE

SAULT STE. MARIE
INNOVATION CENTRE

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A business incubation success story with launch of Veracity

The Sault Ste. Marie Innovation Centre (SSMIC) is proud to announce the graduation of Sault Ste. Marie based Veracity Asset Management Group from its business incubator program.

Veracity’s founders have established a niche offering within the asset recovery field.

By strategic use of recycling, re-deployment, reselling and other innovative disposition techniques, Veracity’s processes help organizations become more responsible and profitable stewards of resources.

These budding entrepreneurs have achieved numerous accomplishments since their inception in 2011 and joining SSMIC’s incubator in 2013.

With the launch of their cloud-based web platform ‘Veracity Connect’, Veracity has expanded their client base from utility and energy companies across Canada to over a dozen American public power associations.

By the end of 2015, more than 1,000 utility companies will have implemented Veracity Connect for mutual aid and critical spares management solutions.

These are impressive results for the company, which has now grown to a staff of five full-time employees, two of which are recent Algoma University graduates.

“SSMIC’s business incubation program has been a key to our initial and continued success. We couldn’t be happier with the professional environment that they provide.” says Graham Nelson, CEO, Veracity. “Moving into SSMIC’s incubation space was a seamless process and provided us with internet, phone, fax and printing services as well as access to meeting rooms with video conferencing facilities. In addition, as a start-up enterprise, being able to interact with other companies facing similar challenges has been very beneficial. The Innovation Centre’s staff have been there to help us from the very beginning, pointing us to a number of programs and funding opportunities and guiding us through many of the application processes.”

Veracity utilized SSMIC-administered support programs that have helped them with the development and commercialization of their technology and enter the U.S. market.

SSMIC programs provided over $27,351 in direct support and SSMIC staff also assisted Veracity in accessing programs offered by the Canadian Media Digital Network (CDMN), FedNor and NOHFC.

“The team at Veracity are a testament to pursuing a vision, working hard and the success that can follow,” said Tom Vair, executive director, SSMIC. “We are thrilled to see their growth and positive example of business incubation assisting local entrepreneurs.”

“It has been a pleasure to work with Veracity and we are confident that their growth won’t stop here,” says Gerry Bugyra, SSMIC’s business development manager. “They continue to innovate in their field entering new sectors and geographies. We wish them success as they move onto the next stage of business development.”

For more information on Veracity asset management, visit www.veracityamg.com

To learn about Sault Ste. Marie Innovation Centre’s business incubator, contact Gerry Bugyra at (705) 942-7927 ext. 3129 or [email protected]

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(PHOTO: Left to right - Tom Vair, executive director Sault Ste. Marie Innovation Centre; Rob Krysa, VP operations Veracity Asset Management Group; Graham Nelson, CEO Veracity Asset Management Group; Hairaini Othman, business analyst Sault Ste. Marie Innovation Centre; Gerry Bugyra, business development manager Sault Ste. Marie Innovation Centre. Provided)


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