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[news 2001-2002]
Queen's
Scientific Breakthrough Fund makes$300,000 investment
in Online Creator Inc.
March 28, 2001
KINGSTON, ON -- PARTEQ Innovations, manager of the Working
Ventures Queen's Scientific Breakthrough Fund, is pleased
to announce a $300,000 investment in Online Creator
Inc.
Online Creator Inc., a Kingston-based firm, develops,
markets and licenses e-commerce enabling software for
the Small- to Medium-Sized Enterprise (SME). Online
Creator's newly-released e-commerce software, "OC-Web,"
allows an SME to establish its presence on the World
Wide Web with its own domain name. With OC-Web, the
SME can manage its website's content and catalogue information,
execute transactions, gather statistical data and manage
fulfillment - all through a browser-based application
that requires no special software or knowledge by the
client. Online Creator hosts and manages the entire
server infrastructure, software and systems in a reliable
and secure environment.
Robert Lanciault, President and CEO of Online Creator
Inc., explains the benefits to clients of his company's
service: "With only a web browser required to establish
a full-fledged e-commerce website, SMEs will be able
to launch a sophisticated e-commerce business presence
on the web without having to worry about managing the
complex IT infrastructure of an online transaction system
and without needing any specialized knowledge of HTML
or web development software."
When established in September 1999, Online Creator was
a one-person operation, developing a substantial local
clientele in providing web hosting and website design.
Early in 2000, the company began developing web-based
software tools based on the needs of its clients. It
was incorporated in January of 2001, and has grown to
a 10-employee operation.
John Molloy, President and CEO of PARTEQ Innovations,
observes that " Online Creator is well-positioned
to take advantage of the explosive growth of consumer
online commerce. Online Creator's strength lies in managing
the technical complexities of online transactions, providing
their SME clients the systems, support and infrastructure
used by larger corporations at lower cost and without
the headaches."
About the Queen's CSBIF
The Working Ventures CMDF Queen's Scientific Breakthrough
Fund is a $7 million venture fund launched under the
Ontario Government's Small Business Investment Fund
(CSBIF) Program. Established as a partnership between
Queen's University, Working Ventures Canadian Fund and
the Canadian Medical Discoveries Fund, the Fund is managed
by PARTEQ and has a mandate to invest in enterprises
formed by Queen's researchers and graduates looking
to commercialize and market research discoveries. The
fund makes initial investments normally in the range
of $250,000-$300,000 and follow-on investments of up
to a total of $1.4 million in companies with less than
$1 million in assets.
About
PARTEQ
PARTEQ Innovations is a not-for-profit corporation formed
in December 1987 to act as the technology transfer agent
for Queen's University at Kingston. PARTEQ has the exclusive
rights to all intellectual property owned by the University.
PARTEQ's mission is to stimulate and facilitate the
commercialization of intellectual property generated
at Queen's and to enhance and foster linkages between
the Queen's research community and industry. PARTEQ's
mission is driven by social responsibility and potential
economic return. Queen's is a research-intensive university
and PARTEQ provides a means to ensure that discoveries
with potential public benefit are properly commercialized.
Contacts:
John Molloy, President and CEO, PARTEQ Innovations
Phone: (613) 533-2342
Email: molloyj@post.queensu.ca
Robert Lanciault, President and CEO, Online Creator
Inc.
Phone: (613) 389-8618
Email: ceo@theonlinecreator.com
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