Two emerging tech companies in Sydney received a boost from the Atlantic Canada Opportunities Agency today.
Orenda Software Solutions received $141,000 and PizzaGo was loaned $75,000.
Orenda is creating social media mining and monitoring software that applies numerical metrics to emotions, connections and associations. The company says the result is valuable brand and reputation intelligence.
Founder and CEO Tanya Collier MacDonald said the money helps take the project from beta to commercialization.
"There is still no revenue coming in but you still need a really good skilled team," she said. "So you need to be able to pay their salaries."
Co-founder of PizzaGo, Matt Stewart, said the money is vital. "Cash flow is so important."
The PizzaGo on-line ordering app is designed to help independent restaurants compete with larger chains. Stewart said, so far, he has 15 customers in Nova Scotia.
The funding comes from ACOA's business development program.
Sydney-Victoria Liberal MP Mark Eyking made the announcement. He said both companies are impressive examples of the forward thinking needed to build a stronger, more robust economy in Cape Breton.