Grants and Contributions:

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Title:

Business Innovation - Strategic Expansion of Sales and Customer Success for Enhanced Market Penetration.

Agreement Number:

1013860

Agreement Value:

$200,000.00

Agreement Date:

Jan 1, 2024 - Mar 31, 2025

Description:

In a fiercely competitive PRM market, Magentrix, currently a top contender per Forrester Research, aims to seize the opportunity to shift market share from dominant U.S. firms to our Canadian enterprise. Recruiting and training 2 BDRs and 1 Customer Success Specialist are strategic moves, not just team expansions, to amplify market outreach and boost customer satisfaction. This project, leveraging Magentrix’s high market rating, employs innovative, experiment-based activities to enhance lead generation, conversion, sales closing, and customer retention. The goal is to assertively capture a larger market share by showcasing superior capabilities.

Organization:

National Research Council Canada

Expected Results:

The purpose of IRAP Contributions to Firms is to support research, development, adoption and/or adaptation of innovative or technology-driven new or improved products, services or processes in Canada up to their commercialization

Location:

Thornhill, Ontario, CA L3T 7X8

Reference Number:

172-2023-2024-Q3-1013860

Agreement Type:

Contribution

Report Type:

Grants and Contributions

Recipient Business Number:

825905300

Recipient Type:

For-profit organization

Additional Information:

This agreement has been amended 1 time(s). The end date of this agreements has been modified by 90 days.

Amendment Date

Nov 13, 2024

Recipient's Legal Name:

MAGENTRIX CORPORATION

Federal Riding Name:

Richmond Hill

Federal Riding Number:

35087

Program:

Industrial Research Assistance Program – Contributions to Firms

Program Purpose:

Coverage:

IRAP Contributions to Firms projects stimulate wealth creation for Canada through technological innovation.

NAICS Code:

51121

Amendments:

See Amendments