Contribution: Industrial Research Assistance Program – Contributions to Firms
MAGENTRIX CORPORATION
$200,000.00
Business Innovation - Strategic Expansion of Sales and Customer Success for Enhanced Market Penetration.
FY 2023-24 · 2024-01-01
Summary
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.
Department
Program
Industrial Research Assistance Program – Contributions to FirmsIndustrial Research Assistance Program-Contributions to Firms (linked with high confidence)
Recipient
Location
Thornhill|Thornhill, Ontario, Canada
Recipient Type
For-profit organization
Business Number
825905300
Type
Contribution
Source
Proactive Disclosure - Grants and Contributions
Amendments
Each version of the agreement as published, oldest first, with its total as of that version. The amount above is the latest.
| Amendment | Date | Fiscal Year | Total |
|---|---|---|---|
| 0 | 2024-01-01 | 2023-24 | $200,000.00 |
| 1 | 2024-01-01 | 2023-24 | $200,000.00 |
As published
Additional Information
This agreement has been amended 1 time(s). The end date of this agreements has been modified by 90 days.
Additional Information (French)
Cet accord a été modifié 1 fois La date de fin du présent accord a été changé de 90 jours.
Agreement End Date
2025-03-31
Agreement Number
1013860
Agreement Start Date
2024-01-01
Agreement Title
Business Innovation - Strategic Expansion of Sales and Customer Success for Enhanced Market Penetration.
Agreement Title (French)
Innovation commerciale — Expansion stratégique des ventes et de la réussite des clients pour une meilleure pénétration du marché.
Agreement Type
Contribution
Agreement Value
$200,000.00
Amendment Date
2024-11-13
Amendment Number
1
Coverage
IRAP Contributions to Firms projects stimulate wealth creation for Canada through technological innovation. | Les projets des Contributions aux entreprises stimulent la création de richesse au Canada grâce à l’innovation technologique.
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.
Description (French)
Sur un marché du MRP férocement concurrentiel, Magentrix, actuellement l’un des principaux concurrents selon Forrester Research, vise à saisir l’occasion de déplacer la part de marché des entreprises américaines dominantes vers notre entreprise canadienne. Le recrutement et la formation de 2 responsables des relations avec les clients et d’un spécialiste de la réussite des clients sont des mesures stratégiques, et non de simples expansions d’équipe, qui visent à amplifier la portée du marché et à accroître la satisfaction des clients. Ce projet, qui tire parti de la cote élevée de Magentrix sur le marché, fait appel à des activités novatrices et expérimentales pour améliorer la génération de prospects, la conversion, la conclusion de ventes et la fidélisation de la clientèle. L’objectif est de s’assurer une plus grande part de marché en mettant en avant des capacités supérieures.
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
Expected Results (French)
Le PARI, par le biais des Contributions aux entreprises, vise à appuyer la recherche, le développement, l’adaptation et/ou l’adoption au Canada de produits, de services ou de processus novateurs ou axés sur des technologies nouvelles ou améliorées, et ce jusqu’à leur commercialisation
Federal Riding
Richmond Hill
Federal Riding (French)
Richmond Hill
Federal Riding Number
35087
NAICS Code
51121
Organization Code
nrc-cnrc
Organization
National Research Council Canada | Conseil national de recherches Canada
Program Name
Industrial Research Assistance Program – Contributions to Firms
Program Name (French)
Programme d’aide à la recherche industrielle – Contributions aux entreprises
Program Purpose
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
Program Purpose (French)
Le PARI, par le biais des Contributions aux entreprises, vise à appuyer la recherche, le développement, l’adaptation et/ou l’adoption au Canada de produits, de services ou de processus novateurs ou axés sur des technologies nouvelles ou améliorées, et ce jusqu’à leur commercialisation
Recipient Business Number
825905300
Recipient City
Thornhill|Thornhill
Recipient Country
CA
Recipient Legal Name
MAGENTRIX CORPORATION
Recipient Postal Code
L3T 7X8
Recipient Province or Territory
ON
Recipient Type
F
Reference Number
172-2023-2024-Q3-1013860
