Contribution: Industrial Research Assistance Program – Contributions to Firms
Co-Efficient Precision Engineering Inc.
$74,955.00
Feasibility Study - Exploring opportunities for business expansion and feasibility of Measuring-as-a-Service business model
FY 2024-25 · 2024-10-01
Summary
To conduct a comprehensive feasibility study that evaluates the potential for transitioning our business model from purely capital equipment sales to a flexible model that includes Measuring-as-a-Service (MaaS). This study will explore both a full-service model and a hybrid model, where customers purchase the equipment but enter into ongoing service agreements for maintenance, upgrades, and performance monitoring. The study will assess market demand, customer value, financial viability, and technical feasibility, with a focus on generating recurring revenue streams that enhance long-term customer relationships and break-down barriers in the sales process.
Department
Program
Industrial Research Assistance Program – Contributions to FirmsIndustrial Research Assistance Program-Contributions to Firms (linked with high confidence)
Location
Kanata|Kanata, Ontario, Canada
Recipient Type
For-profit organization
Business Number
831323068
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 | 2024-10-01 | 2024-25 | $74,955.00 |
| 1 | 2024-10-01 | 2024-25 | $74,955.00 |
| 2 | 2024-10-01 | 2024-25 | $74,955.00 |
As published
Additional Information
This agreement has been amended 1 time(s). The end date of this agreements has been modified by 62 days.
Additional Information (French)
Cet accord a été modifié 1 fois La date de fin du présent accord a été changé de 62 jours.
Agreement End Date
2025-08-31
Agreement Number
1023177
Agreement Start Date
2024-10-01
Agreement Title
Feasibility Study - Exploring opportunities for business expansion and feasibility of Measuring-as-a-Service business model
Agreement Title (French)
Étude de faisabilité - Exploration des possibilités d’expansion de l’entreprise et de la faisabilité du modèle d’entreprise « Mesure comme service ».
Agreement Type
Contribution
Agreement Value
$74,955.00
Amendment Date
2025-06-03
Amendment Number
2
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
To conduct a comprehensive feasibility study that evaluates the potential for transitioning our business model from purely capital equipment sales to a flexible model that includes Measuring-as-a-Service (MaaS). This study will explore both a full-service model and a hybrid model, where customers purchase the equipment but enter into ongoing service agreements for maintenance, upgrades, and performance monitoring. The study will assess market demand, customer value, financial viability, and technical feasibility, with a focus on generating recurring revenue streams that enhance long-term customer relationships and break-down barriers in the sales process.
Description (French)
Mener une étude de faisabilité complète qui évalue le potentiel de transition de notre modèle d’entreprise de la simple vente de biens d’équipement à un modèle flexible qui inclut la mesure en tant que service (MaaS). Cette étude explorera à la fois un modèle de service complet et un modèle hybride, dans lequel les clients achètent l’équipement mais concluent des accords de service continu pour la maintenance, les mises à niveau et le contrôle des performances. L’étude évaluera la demande du marché, la valeur pour le client, la viabilité financière et la faisabilité technique, en mettant l’accent sur la génération de flux de revenus récurrents qui renforcent les relations à long terme avec les clients et éliminent les obstacles dans le processus de vente.
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
Kanata--Carleton
Federal Riding (French)
Kanata--Carleton
Federal Riding Number
35041
NAICS Code
237990
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
831323068
Recipient City
Kanata|Kanata
Recipient Country
CA
Recipient Legal Name
Co-Efficient Precision Engineering Inc.
Recipient Operating Name
Mate Gauge
Recipient Postal Code
K2K 1Y3
Recipient Province or Territory
ON
Recipient Type
F
Reference Number
172-2024-2025-Q3-1023177
