Press Releases | March 19, 2009
Elastic Path meets Prime Minister Stephen Harper to discuss support for Canadian entrepreneurs
Government hopes to build more success stories like Elastic Path
Vancouver, BC, Canada, March 19, 2009
-- Elastic Path Software, a leading ecommerce platform provider for enterprises, announced that CEO Harry Chemko met with Prime Minister Stephen Harper and Minister Diane Ablonczy this week to discuss the impact of Canada's entrepreneurs on stimulating the economy. Chemko was part of a special roundtable on supporting young entrepreneurs as part of the government's Economic Action Plan.
The Economic Action Plan will include a $10 million grant in the Canadian Youth Business Foundation (CYBF) to mentor and finance more than 900 aspiring young entrepreneurs. In 2000, Chemko received a $15,000 startup loan from CYBF. Since then Elastic Path has experienced strong revenue growth and ongoing profitability. The company has increased revenue by almost 100% in each of the last three years and boasts more than 200 clients including major brands such as Aeroplan, Time Inc, Nike Bauer, and Samsonite. The growing Elastic Path team has 100+ people in its headquarters in Vancouver and recently opened a second office in the UK.
"We believe this plan and its investment in Canada's entrepreneurs is leading the country in the right direction towards economic recovery. Our young entrepreneurs will be an important component to pulling us out of the recession. It was an honour to be included in this roundtable and contributing to the strategic plans to grow Canada's economy," said Harry Chemko, CEO, Elastic Path Software and a director on the CYBF board.
About Elastic Path Software
Elastic Path Software provides a flexible ecommerce platform that gives enterprises the capabilities and control to deliver innovation in a complex environment. The Java-based platform enables integration with SOA environments and rapid development of custom features. Enterprises can now quickly adapt ecommerce tactics to gain a competitive advantage. Companies such as Aeroplan, Time Inc, and Samsonite use Elastic Path for maximum control over their evolving online stores. For more information, please visit http://www.elasticpath.com