International Trade committee  We did not receive any help from the BDC. Before an investor gets interested in injecting venture capital in the commercialization of an innovation, we have to cross, as was said earlier, “the valley of death.” There is a phase where we do not receive assistance. The marketing of a product like the iPhone or other common consumer products is not the same as the marketing of a medical innovation which has an impact on the care process.

International Trade committee  EDC guaranteed my credit margin with the RBC. I have a credit margin with RBC for inventory when we go abroad. My margin is guaranteed by EDC.

International Trade committee  Are you referring to EDC services?

International Trade committee  In my opinion, there is a will to provide assistance at EDC. When a hospital purchases products, an insurance program can guarantee the payment. In general, hospitals often pay for their purchases, 8, 9, 10 or 12 months later. However, the EDC program lasts six months. So it is not a useful program for us.

International Trade committee  Yes.

International Trade committee  I'm going to talk about our experience in the United States, because every country can be different. Regarding regulations, I don't think that they will have an effect. I may be mistaken, but I do not think so. In the United States I had the opportunity of speaking to other business leaders who were looking for funding, as I am.

International Trade committee  For companies involved in innovation and in commercializing innovation, it takes time for those kinds of measures to become useful. I think some sort of assistance would be necessary. That is sort of how this was presented. Another criterion may be added, whereby another investor would join in the formula presented.

International Trade committee  Although we have not talked to each other, I share their views. Some sort of assistance should be provided for setting up technology showcases outside the country. We had a technology showcase with the Quebec government's support, but it was for Quebec only. However, to sell in the United States, we must have a presence in that country.

International Trade committee  I cannot speak to the format. I don't know whether the R and D tax credit is the best method. I assume people have studied that. The important thing is to provide support for commercialization. It's too early for venture capital once the R and D work is finished. Even if we embrace risk, it's still too risky.

International Trade committee  About a month ago, I attended a Go Global event. From an information and networking standpoint, it was very insightful. But it's the only event I've been to.

International Trade committee  We are currently looking for foreign distributors. I have met with a number of trade commissioners, and I am working with them to establish the profiles of the distributors we are looking for. We have been working on that together since the beginning of the year. We have meetings and discussions on the topic fairly often.

International Trade committee  As far as my company, Emovi, is concerned, we have dealt with the trade commissioner service. A trade commissioner based in Montreal introduced us to commissioners in the U.S., China and Australia. We also had the opportunity to meet those commissioners in person. Just this morning, in fact, I met with the Beijing trade commissioner.

International Trade committee  Thank you.

International Trade committee  Thank you, Mr. Chair. I'd like to extend my sincere thanks to the committee for the opportunity to discuss my company and our journey. I started Emovi, which stands for emotion, movement and vision, in 2007. When you start a business, all three of those elements come into play.