Success Story
Success story by Chatham Agricultural Infrastructure and Design Inc.
Success Story
Chatham Agricultural Infrastructure and Design Inc.
The incumbent CAID is a design startup in Wallaceburg focused on engineering design and structural services for clients in the food and Agro sector. The founder approached us for mentoring and financial assistance. As it gave us the opportunity to test our accelerator and incubation model for soar innovation in real world settings, Our VC arm incubated the startup and structured it as an independent corporate entity. In addition, it provided steady income flow to the founder through monthly compensation and helped him in accessing various corporate resources like talents acquisition, payroll processing, design and ERP software, accounting and legal support.
Furthermore, our senior leadership provided necessary mentoring and advisory support in functional areas of finance, marketing and strategy. After going through 8 months of accelerated incubation process the company started generated a sales in excess of $700,000 and has now 7 direct employees. It is steadily moving ahead with expanding client base and considering the future potential, we strengthened our association with CAID through direct funding via equity channel.