Province Invests in Innovative Cape Breton Business

Published by the Department of Economic and Rural Development and Tourism

Tuesday, December 20, 2011

An innovative Cape Breton company making sure drummers never miss a beat is receiving support from the province to help export its products worldwide. The province announced today, Dec. 20, it will invest $300,000 in Billdidit. The funds will help the company continue to develop its line of unique music industry accessories for drummers.

Quotes

Some of the best innovation is taking place in small businesses across Nova Scotia, and often all these companies need to get to the next level is access to capital. Making smart, strategic investments in high-potential companies is an important part of jobsHere, the plan to grow our economy. Percy Paris, Minister of Economic and Rural Development and Tourism

This investment will allow us to grow our business, hire additional staff and market our product to musicians around the world. We have a unique series of products that compete on the global scene. We've proven that with our first three products and now we have the means to aggressively develop and promote our latest ideas. Joe Menchefski, Billdidit president

The Billdidit team has a great combination of skills that allow it to create meaningful products, design and prototype them for manufacturing, and bring them to market efficiently. We look forward to watching this company develop additional new products as it continues to broaden its market reach. Bob Pelley, Innovacorp investment manager

Quick Facts

  • The seven-year, interest-bearing, repayable loan will be used for working capital, and to acquire prototyping equipment to improve efficiency.
  • Billdidit has developed a drop clutch system that easily allows drummers to engage and disengage hi-hat cymbals. Drum! Magazine said drummers will wonder "how your left foot survived without them".
  • The company is also an Innovacorp I-3 Technology Start-up Competition second-place winner.

Learn More

Media Contacts

Toby Koffman
Economic and Rural Development and Tourism
902-424-4482
Cell: 902-483-5847
E-mail:

Images

Billdidit's Bill Coady, inventor of the Coady clutch, talks with Economic and Rural Development and Tourism Minister Percy Paris.
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From left, Billdidit president Joe Menchefski, mechanical designer Matt Swan, inventor Bill Coady and Ashley MacDonald, with marketing, listen to Economic and Rural Development and Tourism Minister Percy Paris.
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Economic and Rural Development and Tourism Minister Percy Paris announces a $300,000 loan to Sydney company Billdidit.
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Billdidit's Bill Coady, right, gives Economic and Rural Development and Tourism Minister Percy Paris a few drum tips.
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Economic and Rural Development and Tourism Minister Percy Paris stands with Billdidit's Bill Coady, holding his invention the Coady clutch and company president Joe Menchefski.
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Economic and Rural Development and Tourism Minister Percy Paris and Billdidit's Bill Coady, discuss how his invention, the Coady clutch, works with hi-hat cymbals.
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Billdidit mechanical designer Matt Swan talks about the company's innovation with Economic and Rural Development and Tourism Minister Percy Paris.
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Audio

Percy Paris, Minister of Economic and Rural Development and Tourism says the support is a testimony to Nova Scotia investing in Nova Scotians.
Mr. Paris is impressed by the company's innovation and future plans.
Billdidit president Joe Menchefski says the investment will allow the company to expand globally.
Billdidit at play!