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SSMEDC client receives 6-figure investment from Silicon Valley

Melissa Kargiannakis, founder and CEO of skritswap  Lake Superior News

SAULT STE. MARIE, ONTARIO - April 30, 2018  (LSN) Melissa Kargiannakis, founder and CEO of skritswap, is riding high. Her company recently received a six-figure investment from Boost VC, a venture capital firm located in Silicon Valley, California.

To learn more about the announcement, visit the skritswap website.

Skritswap uses artificial intelligence to replace complex jargon with plain language. Its software is able to swap any document, like a mortgage or tax code, from its original wording to three different levels of complexity.

“The technology has the potential to change the way people consume information,” said Kargiannakis. “My goal with skritswap is to empower every single person who has an internet connection with access to this technology. This investment from Boost VC validates our growth to date and helps further our goal.”

To help expand her business during the early years of operation, she enrolled in the Starter Company program in 2016. Administered in the region by the Sault Ste. Marie Economic Development Corporation, it provides entrepreneurs with training, mentoring and potential access to funding to start or grow a business.

“The discretionary spending of the Starter Company money was really helpful to cover items that many other government grants would not,” said Kargiannakis. “Working with the staff at the Sault Ste. Marie Economic Development Corporation on thinking through the early business plan was great.”

Starter Company is funded by the Province of Ontario. Over the past four years, the Sault Ste. Marie Economic Development Corporation has assisted 318 businesses through the program, which is now open to entrepreneurs ages 18 and older.

“Starter Company is our flagship small business program,” said Zoltan Virag, Manager of Small Business Advisory Services for the Sault Ste. Marie Economic Development Corporation. “Though not all applicants receive grants, the training and mentoring is especially valuable. Over the course of a few weeks, we help entrepreneurs develop their business plans through the learning outcomes of the course materials." 

The Sault Ste. Marie Economic Development Corporation delivers enterprise service programs from its Millworks - Centre for Entrepreneurship. Located at the Machine Shop, the facility is also home to a small business incubator that currently hosts eight companies.

For more information, go to the Millworks website.


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