Bluedrop Receives $500,000 Investment to Diversify e-Learning Solutions

A local company that has achieved international success with its e-learning solutions is taking steps to diversify its product line and target new market opportunities. Bluedrop Performance Learning (Bluedrop) is receiving a $500,000 investment from the Provincial Government to commercialize its new CoursePark� technology. This will allow mid-sized businesses to manage their training requirements and purchase courses from a library of thousands of courses.

The Honourable Shawn Skinner, Minister of Innovation, Trade and Rural Development, made the announcement today at Bluedrop�s headquarters on Prescott Street in St. John�s. Accompanying Minister Skinner at the announcement was Emad Rizkalla, Bluedrop�s President and CEO, and Tom Osborne, MHA, St. John�s South.

�During its 17 years, Bluedrop has built a reputation as one of the world�s most respected providers of innovative e-learning solutions and is at the forefront of the province�s emerging information technology community,� said Minister Skinner. �Its success is indicative of the tremendous appetite and opportunity for locally-developed technologies on the international stage. As a government, it is extremely important for us to support organizations such as Bluedrop in their bid to capitalize on market opportunities for their innovative technologies. I am pleased that we have the resources in place to support Bluedrop as it targets new opportunities.�

Bluedrop�s CoursePark� technology allows companies anywhere to best manage their employee training. Other companies can use the system to train external suppliers, partners and customers. CoursePark� is the world�s first Learning Management Network and it provides clients with an inexpensive and efficient means of using their PowerPoints to create training courses and to track completion of courses. Although still in its early stages, it is already in use at the Toronto Stock Exchange, Irving Oil and Equitable Life.

�Our goal is to make CoursePark the international destination on the Internet where companies can deliver and manage all their training requirements,� said Mr. Rizkalla. �We appreciate the Provincial Government�s investment in pursuit of this important objective. This is perhaps the most promising technology we have seen in our company�s industry.�

Established in 1992, Bluedrop Performance Learning (formerly called ZeddComm Inc.) is an award-winning consulting firm that specializes in custom online courseware development for corporations and governments. With an impressive roster of clients including GE Healthcare, Canon Copiers, Pfizer, Cisco Systems, Microsoft, Dell, and Johnson & Johnson, the company was among the early pioneers that recognized and harnessed the potential of the Internet as a training tool.

�Bluedrop is an excellent example of a company recognizing a market opportunity and introducing a solution that maximizes their clients� operations,� said Mr. Osborne. �Its continued success bodes well for the province�s knowledge-based industries and will continue to support employment growth and other spin-off opportunities.�

This initiative was funded through the Commercialization Program, which through Budget 2009: Building on Our Strong Foundation was allocated more than $3 million. Administered by the Department of Innovation, Trade and Rural Development, the Commercialization Program bridges an identified funding and investment gap between product research and product marketing. It provides financial assistance to private sector enterprises for activities leading to the development of innovative, market-ready products and services, including support for technology transfer activities.

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2009 12 09                                                    2:35 p.m.