We’re celebrating the impact and successes of our Southern Ontario Fund for Investment in Innovation (SOFII) across Eastern Ontario over the first 10 years of the program!

Norway Timelapse

High tech manufacturer, eSight eyewear, of electronic eyewear for clients with impaired functioning due to degenerative eye diseases was one of our first clients funded back in 2013. Today, we are highlighting their story and continued success thanks to SOFII.

Serge Casault, COO & Co-Founder of Oomple

TESTIMONIALS

From
SOFII Clients

SOFII helped us launch our Software Platform aimed at simplifying and transforming the way Companies and On-Demand Professional Freelancers work together. It allowed us to add key resources to the team earlier than we could have without SOFII’s help and support.

Serge Casault, COO & Co-Founder of Oomple

Michael Wang, CFEO of Tapplock Corp.

TESTIMONIALS

From
SOFII Clients

SOFII gave us the necessary funding to turn our pilot into an approved project with one of the largest utility clients in the world. Without SOFII funding, it would have been difficult reaching the milestones needed to win. VCs did not want to fund this gap, and SOFII believed in us and gave us the resources and tools to convince our client. CFEO was very professional, super helpful and responsive. All the panel members were veterans who understood the opportunities and challenges and ask critical questions to understand our business.

Michael Wang, CFEO of Tapplock Corp.

Natalie Smith, VP Marketing of Clear Blue Technologies

TESTIMONIALS

From
SOFII Clients

The SOFII program provided funding at a critical juncture in Clear Blue's development of its core products. It promoted innovation of Canadian technology that has now enabled the company to become an international supplier of Smart Off-Grid power products and services in 37 countries around the world. At Clear Blue we had a very positive experience with the program process with staff making it easy and straightforward, allowing us to access much-needed funds for our R&D efforts.

Natalie Smith, VP Marketing of Clear Blue Technologies

Quincy Emmons, President of FireRein Inc.

TESTIMONIALS

From
SOFII Clients

SOFII funding supported our certification project that has now unlocked global sales channels. This funding was key to our growth as we required third party recognition and verification for sales within the fire service. This was a relatively smooth process, there was considerable prep and due diligence performed, however the organizers were very supportive and prompt with assistance. This should be a model for other government programs.

Quincy Emmons, President of FireRein Inc.

Ray Martin, CFO of Scarsin Corporation

TESTIMONIALS

From
SOFII Clients

We leveraged the funds secured from the SOFII program to help commercialize our product offering and expand our market.  We significantly enhanced our self-funded solution that took well over a decade to get to version 6 and moved it to version 9 within 4 years.  We added and expanded within new customers.

Our experience with the program, the staff and the IRC members was excellent!  We received great support throughout the process from applying to presenting to fulfilling follow on requirements throughout the term of the project.

Ray Martin, CFO of Scarsin Corporation

Mark Tayles, EVP Industry Applications of Lytica Inc.

TESTIMONIALS

From
SOFII Clients

The SOFII program was particularly important to us - especially at the critical stage we were at in our evolution. It allowed us to invest in people and technology that enabled our SaaS transformation. All aspects of the program - from the initial application to our reporting obligations were well documented and communicated. There were no surprises and ongoing communication is prompt and courteous. It is clear that the SOFII team members' main concern is with our company's success.

Mark Tayles, EVP Industry Applications of Lytica Inc.

Rebecca A Kacaba, CEO and co-founder of DealMaker

TESTIMONIALS

From
SOFII Clients

The SOFII program has been an integral part of our success. Their funding allowed us to grow 6x year over year, secure more financing, and take our team from 9 people to over 120 in less than 2 years. I appreciate their belief in us and support over the years.

Rebecca A Kacaba, CEO and co-founder of DealMaker

Slide

Messages from our IRC Chair, Board Chair and Executive Director

Shai Dubey, IRC Chair

In early 2012 I accepted an invitation to participate in a new fund targeting innovation in Southern Ontario: SOFII. The mission of SOFII was to close a significant funding gap in the Canadian market and provide Southern Ontario companies with resources to compete better and strengthen the Canadian economy. Over the past ten years, I have seen the impact that SOFII has had on companies, entrepreneurs, employees, communities, and the economy (all you have to do is look at the success stories).
I want to take the opportunity to thank all of the people who are and have been involved with SOFII as they have challenged many widely held assumptions about funding innovative companies and created a model that is second to none in the world. I look forward to the impact that SOFII will have in the next ten years.

Wendy Stone, Board Chair

As a CPA who spent the majority of my professional career working with start-up companies and SMEs throughout Eastern Ontario, I have seen firsthand the tremendous impact that Community Futures has on these businesses during their most critical periods of development and growth. As Chair of the CFEO, I have had the privilege of experiencing these programs, in particular the SOFII program from a new perspective. I am continually reminded of the opportunities and entrepreneurial spirit that exists in Eastern Ontario as we are introduced to new business ideas through our SOFII committee members who work tirelessly to evaluate, support, and recommend these new and innovative companies. The importance of providing a support mechanism for SMEs in rural and urban centers to leverage funds for innovative growth is critical in retaining entrepreneurs and jobs in Eastern Ontario. The 10th Anniversary of the SOFII Program is the perfect opportunity to recognize the staff, SOFII Committee members and board of directors at CFEO, both past and present, who believed in and helped grow the program into what it is today. Through Community Futures & SOFII I can continue to indulge my passion for small business, and I encourage all those with a similar passion to join us as we help Eastern Ontario SMEs grow and succeed!

Cyndy Palleske, Executive Director

With funding received from FedDev Ontario, SOFII has assisted over 100 innovative SMEs since 2012 with their rapid-growth activities ranging from increasing production capacity at a rural (for human consumption) cricket farm, to advancing the commercialization of a product that allows the visually impaired to “see”, to expanding into NA and European markets for a tabletop kitchen appliance food scraps composter. Innovation comes in all forms and sizes, and SOFII is the ideal vehicle to support that innovation in our SMEs on their growth trajectories. The program can attribute its incredible success to its visionary clients and to the government agency of FedDev Ontario who are invested in diversifying and growing the Canadian economy through flagship programming in southern Ontario such as SOFII.

Program Impact to Date

Slide

$30M in funding received since inception

2012 - $8M from FedDev

2014 - $12M from FedDev

2019 - $10M from FedDev

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Jobs Created

0

Jobs Maintained

$0

Matched Funding Invested into SOFII clients

Loans Funded Through the Years

Loans Funded to Date - 100 for $50.2M Total

• Year 1
• Year 2
• Year 3
• Year 4
• Year 5
• Year 6
• Year 7
• Year 8
• Year 9
• Year 10

• Year 1
• Year 2
• Year 3
• Year 4
• Year 5
• Year 6
• Year 7
• Year 8
• Year 9
• Year 10

Year 1

Year 1 – YE 2013, 5 clients for $2.5M

The Community Futures Eastern Ontario (CFEO) Network held its Annual General Meeting in Calabogie on June 21-22 to highlight the contributions the Community Futures Program has made in helping Southeastern Ontario’s rural communities. The two-day event brought together over 30 decision makers and industry leaders from across the 15 Southeastern Ontario CFDC locations to network, share best practices, and learn new approaches to developing strong, economically sustainable communities.

The Community Futures Eastern Ontario (CFEO) Network Peer Councils bring CFEO member subject matter experts together to exchange information, ideas, and insights.

Renew Medispa Success Story

Roxanne McDonald Brown always had dreams of being an entrepreneur from a young age and would daydream about her own business one day. Roxanne is a Registered Practical Nurse; while working at Peterborough Regional Health Centre, she graduated from Fleming College with specialized certificates in Advanced Foot Care Certificate and has a Medical Aesthetic Practitioner Certificate. She quickly realized few jobs were available in her field in this area.

Roxanne participated in the first round of Starter Company Plus with Peterborough Economic Development. She learned of Community Futures Peterborough in this program and applied for a loan. Roxanne said, “Receiving funding for a small business can be a very difficult challenge to overcome. Community Futures, unlike traditional banks, look at the whole business profile and proposed models to help their entrepreneurs.”

Our relationship together has assisted Roxanne and Renew Medispa in many ways! ”I was able to receive funding to attend an amazing learning opportunity in Beverly Hills with a top physician in my field. This allowed me to increase my knowledge and skills to Peterborough & the Kawarthas. Most recently, I received funding to help me grow my business at a new location. This awarded me the opportunity to hire three new staff and expand the services we offer. I am also taking part in a course with Community Futures about scaling an ever-growing business.”

With the guidance and assistance of Community Futures Peterborough, Renew Medispa is on track to continue to grow despite the pandemic and bring the best cosmetic medical treatments to Peterborough & the Kawarthas.

Old Mill Alpacas

Old Mill Alpacasis an agri-tourism business located just outside of Colborne, along Northumberland’s beautiful lakeshore driving route. Like many farm-based ventures in 2021, Old Mill Alpacas was struggling to maintain operations as the pandemic wore on. Business owner Amy Kung-Oliver had applied to many of the government emergency COVID-19 grant and loan programs, but all of her applications were declined. Faced with a potentially devastating decision to close down the farm, with the fate of her animals hanging in the balance, she sought the help of local municipal counsellors, the MP’s office, and finally, one of her regular customers (a staff member at Northumberland CFDC who is great devotee of alpaca wool socks). Working with Kim Botrie, Loan Manager at NCFDC, this quickly led to a flexible financing solution that would stabilize Old Mill Alpacas and put the business back on course. Now, Kung-Oliver welcomes visitors and customers back to the farm where they safely access a beautiful boutique, tour the farmyard and learn more about Old Mill’s wool products and exceptional artisanship.

“My stress levels dropped as soon as I started working with Northumberland CFDC,” Amy said. “They are dedicated to local businesses. They came through for us at an extraordinary time of uncertainty. I would die if something happened to the farm and the animals that mean so much to us.”

Amy Kung-Oliver, Owner

Old Mill Alpacas

With the support of NCFDC, Amy returned to caring for her beloved animals, providing value to her customers and expanding the farm business as a wonderful destination for agri-tourism in Northumberland—as well as a local source of comfortably dry, anti-bacterial and long-lasting wool socks.

Amy had this to say: “I’m so thankful Northumberland CFDC reached out to me, I would have closed and the fate of my eighty-six alpacas would have been dire. Because of the financing I received, my business is not just going but thriving! I don’t have to worry about how I will feed the animals, I have merchandise in the store, the alpaca wool is being milled, and all maintenance has been done to face the winter. I have myself and two staff working and I’m taking bookings late into the fall. I’m so thankful.”

Northumberland CFDC is committed to assisting businesses and organizations to mitigate financial pressures caused by the pandemic. To help keep more people employed, and to sustain more employers for recovery. Together, we have worked to weather the economic impacts of COVID-19 and keep more people employed. For businesses located in Northumberland and Alderville First Nation,click hereto apply today for flexible financing solutions offered through the Community Futures Program.

Mommy Mops

Mommy Mops has rolled with the pandemic punches, persevered, and successfully expanded with two new branches within the last two years.

Founded by Stephanie Rayton in 2018, Mommy Mops started out as a membership-based home cleaning service with clients paying a flat rate for cleaning on a consistent basis.

Mommy Mops offers judgement-free service and is reducing employment barriers in the community by hiring people who may not be able to work during a traditional timeframe, especially moms!

The company is on a mission to help people embrace the concept of home cleaning differently, offering personalized home management teams to help you maintain your beautiful spaces. Rayton is building a culture of empowerment, wanting more women to feel comfortable in their homes, in their skin and in their communities.

Challenges & Successes

Once the pandemic hit, Mommy Mops was faced with many COVID related challenges. Many moms were unable to work while schools were closed and restrictions were put in place on the types of homes they could clean that fit a certain criteria.

In a direct response to COVID challenges, Rayton launched Major Mops and started cleaning businesses and public spaces. She also entered the vacation cleaning property market and launched Suite Services in 2021.

Mommy Mops has since incorporated into Mopsinc Ltd with three divisions.

“The resilience that we have developed in the past few years of business will be something that can carry us forward for years to come,” says Rayton. “We have had to face COVID related closures which resulted in financial stress, staffing shortages, and the fear in the unknown. Projections were put on hold, and we looked at business operations from a day-to-day perspective.”

Community Impact

Rayton is happy to announce that Mopsinc Ltd is a certified Ontario Living Wage Employer.

“When I wrote our first business plan, one of the objectives was to be able to pay our team a living wage,” she says. “We worked hard to reach this goal and are pleased to be able to offer a starting wage of $18 an hour.”

Rayton also made the decision to reinvest in the business this year by hiring on a leadership team.

“With the staffing challenges that are present, we believe that supporting team members is crucial. We have a vibrant office space, wonderful team, and a desire to share our passion which is cleaning,” she says. “We have full time, part time, and seasonal opportunities within our company.”

The Bay of Quinte (BOQ) is a strong community and Rayton says she feels lucky to call this area home.

“We are surrounded by people who support our vision and connect us to opportunities and resources to support our growth goals. I am inspired by many individuals in this region and look forward to giving back,” she says.

The BOQ region is also a destination location and Mopsinc Ltd takes pride in being a part of that experience. Rayton says she looks forward to working with resorts and property owners to create clean and sanitized spaces for their guests and will continue down this path with interest in hotel housekeeping opportunities. 

Trenval experience

When Rayton first arrived at Trenval she had a good business model but says she identified as an ostrich when it came to her finances.

“I was connected with Eileen, a loans officer who set windows of time aside for me to ask the questions and worked with me to piece everything together,” says Rayton. “Her support and patience allowed me a space to gain confidence.” 

Rayton says she felt ready when meeting with the Trenval investment committee for the first time. She knew her numbers, the committee supported her vision, and she was able to answer any questions they had.

“The comfort I felt at that meeting was a direct reflection of the kindness and encouragement shown to me by the committee. The questions were tough but relevant. I am proud to be a client of Trenval and would encourage anyone who knows it’s time to grow to call and book an appointment,” she says.  

Working with Trenval, Rayton says she was happy to be treated as the person behind the business.

“I felt supported and that there was a group of people who were willing to give us a chance,” says Rayton. “They were not just investing in an idea, but in me as a business owner. The staff are always excited to hear how we are doing. I call all the time to ask questions about a new direction of business we are going in and I am provided information and connections to the resources needed to get me to the next level.”

For more information, visit mommymops.com.

About Trenval

Trenval Business Development Corporation is Bay of Quinte’s Community Futures Business Specialist, financing business start-ups, expansions or successions in the Quinte region for 34 years.

Do you have a business plan that you would like to bring to fruition? Contact Trenval at 613-961-7999.