A "Robot with Smarts" competes for $100,000 BDC Grand Prize for Innovation - Inovatech Engineering Corporation aims to add new dimension to steel industry shop work

VANLEEK HILL, ON, May 30, 2012 /CNW Telbec/ - Canadians can now vote online for a "Robot with Smarts", the innovation project proposed by Inovatech Engineering Corporation, one of eight finalists competing for the $100,000 Business Development Bank of Canada (BDC) Grand Prize for Innovation.

Founded in 2008, Inovatech develops robotic cell machines for the structural steel industry that go beyond what the average robot on the shop floor can do: they can understand customized drawings and recognize how to make the appropriate cuts in steel beams and plates.

Now, Inovatech is proposing to expand its existing line with the SteelPro 900, which will have the unique ability to read 3-D, 2-D and bevel drawings.  This robotic application will be programmed to carry out the type of manual tasks that most people wouldn't think were feasible for a robot.

"If you look at it with an open mind, the applications are endless," says Miguel Clement, co-owner of Inovatech.  "Our company is all about innovation," he adds. "Nobody else makes a machine as adaptable as the one we are proposing."

"I would like to congratulate Miguel for bringing his project to the finals of the BDC Young Entrepreneur Award contest," says Michel Bergeron, Senior Vice President, Marketing and Public Affairs at BDC. "It is now up to Canadians to choose which project will come to life in the following year.  Every vote counts towards the Grand Prize!"

"There are many great reasons to vote for our innovation project," points out Clement. "The SteelPro 900 will enable structural steel manufacturers to increase their operational efficiency, speed and accuracy.  It will take much of the 'dirty work' out of their processes, and make them more productive. Plus, we look forward to encouraging our clients to share their feedback, so we can refine the machine even further! "

"All the finalists competing for the Grand Prize for Innovation have projects with a solid potential to generate growth and prosperity. The eight finalists have proven that they have ability to run a successful business and to establish themselves as thought leaders in their industries," adds Bergeron.

Voting for the 2012 BDC Young Entrepreneur Award contest runs from May 30 to June 19 and the general public can vote once a day.  To support your favourite innovation project, log in to the dedicated microsite or vote directly on Facebook at BDC Entrepreneur.  Frequent contest updates will be posted on Facebook,  Twitter at @BDC_News and LinkedIn.  The BDC Young Entrepreneur Award winner and runner up will be announced on June 25.

About the BDC Young Entrepreneur Award contest
Created by the Business Development Bank of Canada in 1988, the BDC Young Entrepreneur Award contest pays tribute to successful Canadian entrepreneurs between 18 and 35 years of age.  For the first time in 2012, the contest will see finalists competing for the BDC Grand Prize for Innovation which will award $100,000 to one young Canadian entrepreneur to carry out a specific innovation project. The Financial Post is the exclusive media partner of the BDC 2012 Young Entrepreneur Award.  The contest is sponsored by Les Affaires.

About BDC
Canada's business development bank, BDC, puts entrepreneurs first.  With almost 1,900 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital and consulting services to 29,000 small and medium-sized companies.  Their success is vital to Canada's economic prosperity.

Maria Constantinescu
Advisor, Public Relations, BDC
514 496-7146
maria.c[email protected]