November 24, 2009

ORIC hosted a Kelowna Press Conference at which the Government of Canada announced significant investments in two ORIC incubation client companies.

On October 14, 2009, Ron Cannan, Member of Parliament for Kelowna-Lake Country, on behalf of the Honourable Gary Goodyear, Minister of State (Science and Technology), announced contributions in two ORIC Kelowna client companies, Vineyard Networks Inc. for $500,000 and VeriCorder Technology Inc for $250,000 under the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP).

Both Vineyard Networks and VeriCorder are Kelowna-based companies located in the ORIC Kelowna Innovation Centre technology business incubator in Kelowna and are clients of SIDIT.

Vineyard Networks Inc. builds innovative technologies and solutions that bring Network Monitoring and Management solutions to small and medium-sized enterprise companies around the world.  The company creates leading edge solutions for their customers that enable them to quickly identify and resolve network activity.

“We are very pleased to announce this agreement with NRC-IRAP,” said Jason Richards, CEO of Vineyard Networks.  “This is solid testament to the commitment of the Canadian Federal Government to growing the technology industry in Canada.  This program will be a key factor in our continued success and ability to grow our team with top industry talent.”
http://www.vineyardnetworks.com/

VeriCorder Technology Inc. produces both software and hardware for mobile wireless platforms, primarily geared around audio and video production.  The company also specializes in creating web media solutions for media companies, podcaster, vloggers and bloggers.

“We are absolutely thrilled by this agreement with the NRC-IRAP program,” said Gary Symons, President and CEO of VeriCorder Technology.  “As a result of this funding, our company is producing products, we’ve landed several big clients, and we are already hiring new people.  In my opinion, funding in new technology companies by IRAP is the single best way to create new and lasting jobs, and to diversify our economy for the future.”  http://vericorder.com/