OCE Fellowship Launches New Business Ventures

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Kostyantyn Khomutov, founder of Smart Rotor Systems, and Ameer Taha, co-founder of Certo Labs Inc., are co-winners of Ontario Centres of Excellence's (OCE) 2008 Martin Walmsley Fellowship for Technological Entrepreneurship. Both Taha and Khomutov will receive C$100,000 to start a business venture to bring their inventions successfully to market.

Khomutov's active pitch link technology can simultaneously control vibration and noise produced by wind turbines and helicopter rotors, significantly cutting noise pollution and maintenance costs. For wind turbines, this innovative technology will enable installation in closer proximity to populated areas and will markedly improve component fatigue life, according to OCE.

Taha's fully automated lab instrument allows scientists or technicians to quickly extract samples in any lab setting at lower costs.

Khomutov believes his company could generate annual revenues of more than C$140 million. Prior OCE funding to Carleton University allowed for the initial research and creation of the smart rotor.

‘Young Canadians like Ameer and Kostyantyn are helping usher in a new era of innovation with their inventiveness and entrepreneurship,’ says OCE president Mark Romoff. ‘By helping these young entrepreneurs get started and mentoring them during the critical two-year start-up period, we are accelerating the process of moving their ideas to market.’

The Martin Walmsley Fellowship for Technological Entrepreneurship facilitates the transition of OCE-funded, university-based research into innovative business ventures. An expert panel selects the recipients, who are judged on criteria including strength of technology, commercial viability and sound business planning.

SOURCE: Ontario Centres of Excellence Inc.

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