National Organization Awards Best Business Winner
Elastic Path Software founders awarded National 2005 Best Business by the Canadian Youth Business Foundation
Toronto, ON, Canada, May 25, 2005 -- Canadian Youth Business Foundation (CYBF), Canada’s leading organization dedicated to the success of young entrepreneurs, announced their National "2005 Best Business" award recipient last evening at the 3rd annual CYBF Young Entrepreneur Awards Gala in Toronto. The National winners are Mark Williams, Harry Chemko & Jason Billingsley of Elastic Path Software in Vancouver BC.
Ten provincial young entrepreneur Best Business award recipients, who were present at the event, competed for the ultimate prize of “National Best Business” and a cash prize of $20,000.
Elastic Path Software, launched in November 2000 with assistance from CYBF, has grown from three employees to a staff of 27 and is the leading provider of "developer friendly" Java ecommerce software for building sophisticated online stores. Elastic Path exports 95% of its products & services to the United States, Europe, and Asia in conjunction with companies such as Air Canada, Xerox, Sunoco, Procter & Gamble, 24 Hour Fitness, and Random House.
“CYBF provided the only startup capital we've used in building our business”, comments Co-founder and CEO Harry Chemko. “It may be a small amount of money, but it enabled us to get off the ground and pursue our strategy of funding product development purely on revenue, this is unique in our industry.”
“We are thrilled to honour ten provincial winners and in particular Elastic Path Software for their strides as successful young entrepreneurs”, comments Vivian Woytiuk, CYBF CEO. “CYBF is proud to be driving Canada’s growing economy by helping youth help themselves.”
About Canadian Youth Business Foundation (CYBF)
The Canadian Youth Business Foundation is a nationally registered charity that helps young people who have great ideas but little money to start and build businesses. Its uniquely successful model for supporting young entrepreneurs combines small loans of up to $15,000 with mentoring from experienced volunteers.
CYBF has a network of 60 sites across Canada reaching 970 local communities. Through CYBF’s three core programs of seed financing, mentoring and online learning resources over 1400 young entrepreneurs have successfully launched their business – creating 7300 jobs, generating $143 million in gross salesand producing over $33 million in tax revenue.
About Elastic Path Software
Elastic Path Software pioneered flexible ecommerce software that enables online retailers to attract and convert customers profitably. Elastic Path's fully-integrated, ecommerce framework is designed specifically for mid-sized retailers operating within a multi-channel environment. Using innovative search engine optimization (SEO) technology and simplified open source components, Elastic Path's technology empowers its customers to maximize resources and quickly adapt tactics at a comfortable price. Companies such as Makeup.com, Cotswold Collections, Aeroplan, Random House, Electricshopping.com, and Xerox use Elastic Path for maximum control over their rapidly evolving online stores.
Elastic Path Software is headquartered in Vancouver, British Columbia, Canada. For more information please call 1-800-942-5282 or visit www.elasticpath.com.
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