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OBAA 2019 Finalists: Beyond Borders, Business Award
October 8, 2019Since 1983, The Ontario Business Achievement Awards (OBAAs) has been the most recognized industry gala in the province with a single focus on celebrating business success. Throughout the evening, we will celebrate our spectacular Ontario business community, highlighting the incredible innovations and achievements of each one of our 2019 OBAA finalists. Join us on Thursday, November 14 as we reveal our winners at Beanfield Centre in Toronto!
Presenting: The Beyond Borders, Business Award
The Beyond Borders Business Award recognizes a small (1-50 employees) or medium-sized business (50-500 employees) that has implemented an export strategy that has positively affected its bottom line.
Finalist #1: Microbix Biosystems Inc.
Industry: Biological and technology solutions
When did your organization first open its doors? What motivated you to get into business?
Microbix first opened its doors in the founder’s basement in the 1980s. His motivation was to use his virology expertise to help improve public health. That motivation still guides Microbix today in its position as a global leader in providing the biological core of many medical tests for infectious diseases (antigens) and in helping to ensure the accuracy of such tests (quality assessment products, or QAPs™).
What does being an OBAA finalist mean to you?
It is a great honour for Microbix to be a finalist with OBAA. Being an OBAA finalist demonstrates two highly-related concepts: 1) that Microbix is on the right path in innovating on a sustainable basis to build its business, and 2) that our peers and the community at large are recognizing this progress. Recognition by OBAA increases Microbix’s visibility and allows us to demonstrate our leadership to prospective customers, capital providers and policymakers. This exposure will greatly help us connect with those groups that can work with us to maximize business growth to the benefit of the company, our employees, the innovative industrial biotechnology community, and more broadly to the Ontario business ecosystem as a whole.
How does your organization positively contribute to Ontario’s economy?
Microbix is an entirely Ontario-based company, with a broad base of shareholders across Canada. While many of Microbix’s suppliers are Canadian, its products are sold almost exclusively exported (currently 22% US, 52% EU, 27% Asia/Pacific) to numerous customers worldwide, including multinational diagnostics companies, laboratory accreditation organizations and, in the very near future to the clinical testing laboratories themselves as fully regulated medical devices. Growth in sales of Microbix’ core antigen and QAPs lines are expected to continue to increase revenue, with the rate of growth accelerating as more new QAPs products are introduced. Sales growth will naturally result in the creation of numerous new Ontario-based jobs, most being well-paid and involving advanced technologies. With current sales of over $1 million per month, Microbix is the rare instance of a substantive locally-controlled biotech company. At its Mississauga facilities, Microbix currently has 80 highly-trained Canadian employees, many with higher degrees, and we are looking to grow. We are also an established hirer of new Canadians, with a diverse, multi-cultural workforce.
What can we expect to see from your organization in the years to come?
For the last several years Microbix has achieved double digit sales growth as it builds its innovative biotechnology business. This trend will continue, and indeed accelerate, in the coming years. This acceleration will be driven by 2 major factors:
- Commercialization of the new portfolio of Quality Assessment Products (QAPsTM), particularly in Europe and the US. This represents a new direction for Microbix with the potential to dwarf the (still growing) revenues currently generated through is diagnostic antigen business;
- Rapid commercial growth for all its products (antigens and QAPs) in the Asia/Pacific region. Commensurate with this progression will be the establishment of growing profitability, further expansion of facilities/capabilities and the creation of numerous new high-value Canadian jobs.
Connect with Microbix Biosystems Inc. on Facebook and LinkedIn.
“Microbix’s strength is our people. From our beginnings, we have pursued a culture of honesty and respect. By applying scientific and manufacturing excellence, with appropriate business discipline, we are building an exciting biotechnology company. As we continue to grow, we remain a dynamic and fun place to build a career.”
Cameron L. Groome, CEO & President
Finalist #2: Signifi Solutions Inc.
Industry: Hardware and software solutions
When did your organization first open its doors? What motivated you to get into business?
We launched the Signifi business in 2005. There was a gap in the market for a retail solution in a non-retail environment. We saw an opportunity to offer a unique customer experience with a “next level” vending machine at the same time providing the consumer convenience. The business has since evolved into IT asset management, in store customer pick-up lockers.
What does being an OBAA finalist mean to you?
It is an honour to be recognized among this group of peers. The variety of businesses represented here is vast and exceptional in their field. To stand along side them shows how much we have grown and excelled as a company.
How does your organization positively contribute to Ontario’s economy?
In the past 12 months, Signifi has doubled its employee count. We have hired for a wide variety of positions from Manufacturing and Engineering to Sales and IT roles. As part of our recruitment strategy, we offer internships for newcomers to Canada through a variety of organizations. Approximately 15% of our current workforce is comprised of people who have interned with us in this program. We also work with a few post-secondary institutions to offer work assignments and co-op positions. Lastly, with export sales growing over 100% this has driven more investment in Ontario.
What is a fun interesting or unique fact about your company?
We pride ourselves in the diversity of our team. Collectively we speak 38 languages and represent 16 different countries of origin. Our founder and CEO is a minority female business leader. Through the sheer nature of our team, this uniqueness gives us an edge in the business environment. Our diverse background has aided in growing the business around the world.
Connect with Signifi Solutions Inc.
“Signifi designs both enterprise software and complex hardware solutions. Coupled with an innovation mindset, this rare combination allows us to build solutions that attract global customers. We owe our success to a diverse workplace, our strong work ethic and a drive for continuous progress toward our vision.“
Shamira Jaffer CEO and Founder Signifi Solutions