Coldblock Technologies began in September 2014 with a prototype in an R&D lab at Brock University. Introduced to the RIC Centre, they received crucial support in securing their first shareholder, Nick, who funded the completion of their prototype and go-to-market strategy for Canada. By July 2015, Coldblock was showcased at the RIC’s annual Board of Directors meeting and made their first sale to the Government of Canada, installing six units in a federal laboratory.
In January 2016, Coldblock joined the RIC’s high potential program, accelerating their growth. The RIC Centre connected them to various mechanisms within the ONE network, including OCE, IRAP, Mars, and the Build in Canada Innovation Program. This comprehensive guidance helped Coldblock raise over one million dollars in non-dilutive funding, establishing a strong foundation for further growth.
Coldblock’s technology, which dissolves hard substances for analysis, found applications in mining and environmental industries. The RIC Centre’s support was instrumental in identifying buyer segments, networking within the industry, and establishing the company’s framework and patent portfolio. With the RIC’s help, Coldblock positioned their product effectively, leading to significant market traction and funding through the ONE Network.
By 2019, Coldblock had raised $1 million of their $1.5 million goal and expanded their reach globally, selling to institutions in various countries. The RIC Centre’s ongoing support in business policy, patents, manufacturing, and funding has been crucial as Coldblock’s sales increased by 510% since 2015, and their team tripled in size.