News Release
Lymbix named most promising startup of 2010 at KIRA awards (news)
May 7, 2010
FREDERICTON - The future looks promising for Moncton-based Lymbix Inc.
The startup is about a month from the launch of its "emotional spell checker," which it has patented in the United States, and the firm has met with Microsoft Corp. (NASDAQ:MSFT) about having its product included in Outlook.
But company founder Matt Eldridge isn't the only one excited about the firm's future prospects - Lymbix was named the Most Promising Startup of 2010 at the KIRA awards Thursday night in Fredericton.
Researchers, tech execs, other business leaders and dignitaries from around the province gathered at the Delta Fredericton for the annual gala, which recognizes achievements in the knowledge industry.
"People are excited because they identify with the problem," Eldridge said of his company's product Tone Check, which monitors the tone of written communication based on eight themes. "Misinterpretation is a big problem."
He said the mass appeal of the product is likely what caught the attention of the secret committee that picks the winners from industry nominations.
The big winner of the night was Fredericton-based Radian6 Technologies Inc., taking home the awards for both export product and employment growth.
Often mentioned by members of the provincial industry when talking about New Brunswick success stories, since 2006 Radian6 has gone from startup to a global-reaching company in the last four years, with brand recognition among top Silicon Valley investors such as Guy Kawasaki.
Ninety per cent of the social media monitoring firm's sales are in the United States and the company more than doubled its employment to 85 people last year, and plans to roughly double it again this year.
Despite Radian6's achievements, chief executive Marcel LeBrun spoke humbly about the recognition.
"It feels great but I'd like to see 10 more of us around," he said, adding that encouraging entrepreneurship in the province is a more important function of the KIRAs.
But LeBrun also joked the judges had made a good choice two years ago.
"The award is not a curse," he said - the company won the 2008 KIRA for Most Promising Startup.
The award winners and finalists are selected by a secret committee of academics and business and community leaders from inside and outside the province, said Doug Motty, chief executive of Enterprise Fredericton, which runs the awards show.
He said he was pleased with the roughly 500 person sold-out audience.
"A lot of things are done really well here in New Brunswick," he said. "For the most part they go unrecognized."
The awards even drew in national industry people.
"Canada wants to be seen as a leader in ICT," said Brendan Glauser a representative for the Information Technology Association of Canada.
"To be seen that way we have to show that from coast to coast to coast there are cutting-edge innovators and that work isn't just being done in major centres."
Premier Shawn Graham said the awards celebrate an important industry to the province, employing more than 8,100 people at more than 571 "innovative" companies contributing about $1 billion to the provincial economy annually.
"That's huge! It's almost as much as the revenue generated by our mining sector," he said, often interrupted by audience applause when mentioning the province's technology-related accomplishments.
"Our economy used to be based mainly on industries that relied on our natural resources, but nowadays we're capitalizing more and more on our intellectual resources."
The event was hosted by Nova Scotia comedian Bill Carr who had a playful exchange with Fredericton Mayor Brad Woodside on stage.
"I'll never forget you Bob," he said to Woodside as the mayor left the stage.
KIRA 2010 winners
Export Product: Radian6
Export Services : Innovatia Inc.
Employment Growth: Radian6
Most Promising Start-Up: Lymbix Inc.
Technological Advancement / Innovation (Private Sector): Red Ball Internet / NRC-IIT
Technological Advancement / Innovation (Public Sector): New Brunswick Tourism and Parks
Industry Person of the Year : Richard Jones