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REF NO.: 272

SUBJECT: Memorial’s Genesis Centre graduate, iMIRADOR, puts clients online rather than in line
DATE: May 31, 2004

The Genesis Centre, Memorial University's support network for technology-based businesses, held a graduation ceremony for iMIRADOR, its 14th graduate company, today. With a staff of five employees, iMIRADOR has developed an innovative process to capture, consolidate, and integrate all new public filings relating to property transactions into an online land registry database. Using digitization and working in cooperation with the province’s Registry of Deeds, iMIRADOR offers this information to real estate professionals and businesses in an easy-to-use web based format. Real estate professionals, subscribing to the database, will save time and money by not having to travel to the various offices from which the data originates.

IMIRADOR’s graduation comes on the heels of the company having received a significant placement of private investment capital. The company also received financial assistance from the Department of Innovation, Trade and Rural Development, the National Research Council and Human Resources Development Canada.

Dr. Axel Meisen, president, Memorial University of Newfoundland, Fraser Edison, chair of the Genesis Centre’s selection board and president and CEO of ConPro Group Ltd., and Emad Rizkalla, chair, Genesis Group Centre congratulated the company on its achievement. The graduation ceremony was held this afternoon in the Atrium of the Faculty of Business Administration Building at Memorial’s St. John’s campus.

Referring to iMIRADOR’s arrangement with the Registry of Deeds, Dr. Meisen said, “This relationship is a good example of a public-private partnership. The province helped a new private venture get established, and enhanced its own services in the process. The University assisted further by awarding iMIRADOR a contract to digitize microfilm in our library, enabling the company to finance a critical piece of equipment.”

“Our incubation period allowed us to benefit from lessons learned by the Genesis Centre staff and previous clients, as well as gain access to a network of professionals in an advisory capacity,” said Don White, president of iMIRADOR. “During our tenure, we were able to lay a solid foundation allowing us to develop the technology, obtain proof of concept and secure the capital to commercialize.”

The Genesis Centre is a division of Genesis Group Inc., the technology commercialization arm of Memorial University. The Genesis Centre has brought private investment to its incubated companies in excess of $4 million.

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