(Ottawa, Ontario, September 30, 2008) – The 2009 winners of the annual Canada’s Top 10™ Competition have been selected (www.topcanadiancompanies.ca). Winners will gather on October 7th at the Fairmont Chateau Laurier Hotel in Ottawa to hone their presentation skills, meet local and regional investors, and prepare themselves for the first leg of the 2009 Investment Forum series. Wavesat will participate as a presenting company at the 12th Annual Ottawa Venture and Technology Summit on October 8th (www.ottawavts.com).

Wavesat is a global leader in mobile broadband, providing advanced semiconductor solutions to the world’s leading carrier and mobile device manufacturers to deploy future-proof broadband services and products. With award winning technology, Wavesat delivers silicon that enables customers to deploy multiple Broadband Wireless technologies such as WiMAX Wave2, WiFi, and XG-PHS today and to migrate seamlessly to future 4G technologies such as LTE.

“Wavesat has a long history of innovation and is honoured to have been selected among Canada’s Top Ten™ Technology Companies this year,” said Raj Singh, President and Chief Executive Officer of Wavesat. “The recognition of our company in this elite group is a reflection of the accelerated momentum and rapid growth that the company has experienced in the last 12 months.”

Winners are chosen by an independent expert panel of Canadian and U.S. venture capitalists. Originally developed to promote the 10 most promising life science companies from across Canada to Canadian and international investors and partners, the competition now showcases Canada's life sciences, cleantech and technology sectors. Working in partnership with Canadian Consulates in Boston, New York City, San Diego and San Francisco, winning companies will participate in targeted investment forums in each city, providing them with an opportunity to meet with Venture Capital investors who have expressed an active interest in financing these companies. Since its inception in 1999, competition alumni have secured more than $522M in venture capital financing.

Canada’s Top 10™ is organized by OCRI (Ottawa Centre for Research and Innovation) and presented by Borden Ladner Gervais LLP, the winners include a wide variety of companies from the life science, cleantech and technology sectors.

“OCRI is pleased to play an active role in the growth of so many exceptional Canadian companies,” said Michelle Scarborough, Vice President, Investment and Commercialization, OCRI. “This is a successful program as evidenced by the investment in past winners. Through our ongoing outreach to the rest of Canada, the best companies from three key innovation sectors can continue to benefit from exposure to VC’s, other investors and potential strategic partners.”

Of the 30 winning companies, 3 are from the Montreal area, with an additional 2 companies from Quebec. For more information about the Canada’s Top 10™ Competition visit www.topcanadiancompanies.ca.
2009 Canada’s Top 10TM Companies:

Life Science
Axela Inc. (Toronto, Ontario)
DiaMedica Inc. (Winnipeg, Manitoba)
iCo Therapeutics Inc. (Vancouver, British Columbia)
ImmunoVaccine Technologies Inc. (Halifax, Nova Scotia)
Indel Therapeutics Inc. (Vancouver, British Columbia)
Kane Biotech Inc. (Winnipeg, Manitoba)
PlantForm Corporation (Guelph, Ontario)
Profound Medical Inc. (Toronto, Ontario)
Sanomune Inc. (Winnipeg, Manitoba)                                                                           
Viron Therapeutics Inc. (London, Ontario)

Cleantech
Elementa (St. Catharines, Ontario)
EnvirEau Technologies Inc. (Richmond, British Columbia)
Odotech Inc. (Montreal, Quebec)
Paradigm Environmental Technologies, Inc (Vancouver, British Columbia)
Quadra Solar Corporation (Ottawa, Ontario)
REGEN Energy (Toronto, Ontario)
Sempa Power Systems Ltd. (North Vancouver, British Columbia)
SiXtron Advanced Materials Inc (Dorval, Quebec)
Taransys Inc (Ottawa, Ontario)
Thinkflex Solar, Inc. (Hamilton, Ontario)

Technology
Accedian Networks, Inc. (St. Laurent, Quebec)
BelAir Networks (Ottawa, Ontario)
DataGardens Inc. (Edmonton, Alberta)
Ecobee (Toronto, Ontario)
Evoco Inc. (Calgary, Alberta)
I Love Rewards Inc. (Toronto, Ontario)
IPeak Networks Incorporated (Ottawa, Ontario)
Redknee (Mississauga, Ontario)
Trellia Networks Inc. (Montreal, Quebec)
Wavesat Inc. (Montreal, Quebec)


About Wavesat:
Wavesat is a global leader in mobile broadband, providing advanced semiconductor solutions to the world’s leading carrier and mobile device manufacturers to deploy future-proof broadband services and products. With award winning technology, Wavesat delivers silicon that enables customers to deploy multiple Broadband Wireless technologies such as WiMAX Wave2, WiFi, and XG-PHS today and to migrate seamlessly to future 4G technologies such as LTE.  Wavesat is a principal member of the WiMAX Forum®. For more information, please visit www.wavesat.com.

About OCRI:
OCRI (Ottawa Centre for Research and Innovation), the city's economic development corporation, is leading the way for Ottawa. OCRI is the rallying point to bring business, education and research together to create the winning economic conditions that allow Ottawa's technology companies to thrive locally and compete globally. At OCRI we promote sustainable economic development to maintain our high quality of life. For more information on OCRI visit our website at www.ocri.ca and for more information on the Ottawa Region please visit www.ottawaregion.com.

For information contact:

Veronica Farmer
Marketing Communications
Cell: (613) 862 3346
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OCRI
Kim Cunningham
Manager, External Communications
Tel: (613) 828-6274 x 256
Cell: (613) 851-0768
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