Press Release: MARKHAM SPACE RACE LAUNCHED

THE RACE IS ON:

SECOND ANNUAL MARKHAM SPACE RACE LAUNCHED, WITH MORE THAN $100,000 IN PRIZES FOR SMALL COMPANIES

DEEMED MOST LIKELY TO GROW

Markham, Ontario – June 19, 2007 – If you’re an up-and-coming small business in Ontario, and are looking to grow rapidly in the coming year, this competition is for you. The second annual Markham Space Race kicks off today, with more than $100,000 in prizes that include one year of free rent for the first-place winner, as well as a telecommunications package from TELUS Business Solutions including the BlackBerry Smartphone, and thousands of dollars in business consulting and professional services from other service providers for the winning company and top two finalists.

The one-of-a-kind, province-wide “business growth plan” competition – organized through a partnership between the Town of Markham, the Innovation Synergy Centre in Markham (ISCM), GWL Realty Advisors, Jim Brown of Colliers International, and FIT by Design – was introduced last year as a way to stimulate the growth of Ontario businesses and provide much-needed support for small companies.

Following the success of the initial Markham Space Race – which attracted applications from a wide range of small businesses across the province – this year’s competition will provide even bigger and better prize offerings, organizers say.

With TELUS as this year’s Title Sponsor and Creechurch International Underwriters,

Sands Commercial Floor Coverings, Cushman & Wakefield LePage and PowerStream Inc. as Gold Sponsors, the Markham Space Race is open to entrepreneurial companies across Ontario that have been in business for at least two years, have a minimum of three full-time employees, and are IT or export-focused. Participants must submit a growth plan demonstrating how their company is positioned for rapid growth.

To be selected by a panel of judges within the business community, the company with the most compelling growth strategy will receive a $63,100 grand-prize package including a fully-furnished, 1,000-square-foot Class A office space for a year in the Town of Markham, a telecommunications package from TELUS Business Solutions including the BlackBerry Smartphone, and thousands of dollars in business, legal, accounting, financial and HR consulting services, and printing services from other service providers. Second and third-place winners will receive a package valued at $30,000 and $15,000 respectively, including a TELUS Business Solutions package and other legal, accounting, financial and HR consulting services from other providers that are designed to help accelerate the growth of their businesses.

“We encourage all small businesses to participate,” said Bob Glandfield, President and CEO of ISCM. “Just by developing a growth plan, every company that participates in the competition comes out a winner,” he emphasized, explaining that many businesses neglect to create a road map for their future growth, which can be detrimental to a company.

“Developing a plan that must face the scrutiny of a third party forces a sense of realism into the process,” he said. “Entrepreneurs tend to overstate the opportunity, and understate the challenges and timelines, when moving to market. Creating and implementing a realistic plan for growth goes a long way in ensuring the future success of a small business.”

Last year’s top winner, Flatline Solutions Inc. (FSI) – a provider of energy management solutions, formerly of Pickering, Ont., which now occupies prestigious offices in Markham’s business core – said that the Markham Space Race provided the company with an unprecedented opportunity, even beyond winning the office space. “One of the challenges we faced was that we have a technology background and so our business expertise was lacking. Just filling out the Markham Space Race application was like developing a mini-business plan of where we were and how we’re going to get to where we want to be,” said Shawn Lim, Co-founder of FSI, adding that for a small company with limited marketing resources, the exposure the competition provided was invaluable as well. Rescue 7 Inc. of Markham and Valt.X Technologies of Toronto placed second and third in the 2006 competition, respectively.

“As Canada's High-Tech capital, the Town of Markham, along with our partners, is helping to organize the Markham Space Race as a way to encourage entrepreneurs across Ontario to think ‘Growth and Innovation’ in planning the future of their businesses,” said Stephen Chait, Director of Economic Development at the Town of Markham. “Through the competition, we're delighted to support and encourage new technology investment in Markham.”

Submissions for the Markham Space Race must be received by August 17, 2007. For

details of the competition and a downloadable entry form, please visit www.markhamspacerace.ca.

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