newest technology

Export Advancement Canada (EDC) revealed today that it has offered a $1.5 million loan to Vancouver’s Mio Global, makings wearable technology for health and fitness (right here’s a video clip of Mio CEO Liz Dickinson showing the business’s Alpha heart price wearable to BetaKit).

‘It’s really tough to obtain credit report for a firm that is growing as quickly as ours.’

Mio Global ships its products throughout The united state and canada, Europe, and also Asia, and also has licensing take care of adidas, TomTom, and Garmin. The company states it will certainly utilize the funding for additional shipping stock to assist double revenue.

‘This lending is a downright game-changer for us,’ claimed Antonio Arciniega, Mio’s CFO and also vice-president of uses, in a statement. ‘It’s really difficult to obtain credit for a business that is growing as fast as ours. Conventional credit rating is difficult and rarely readily available.’

EDC is Canada’s profession financing company, and the leading carrier of funding, insurance policy, as well as bonding for Canadian companies of all dimensions that operate beyond Canada.

‘Mio Global has an excellent product that called for considerable study and advancement to commercialize,” stated Bruce Dunlop, EDC vice-president of Industrial Markets and Local business. ‘This is a Canadian SME that is constantly introducing to continue to be competitive in their market and also EDC is thrilled to play an encouraging duty in their worldwide development.’