press release

Ontario’s Investment Accelerator Fund selects Bee Networx for prestigious seed funding program

TORONTO, ONTARIO (MARCH 25, 2009) – Bee Networx (formerly Astilbee Networks) has received investment of up to $500,000 from Ontario’s Investment Accelerator Fund (IAF) to take their breakthrough smart data routing technology to market.

Managed by Ontario Centres of Excellence, IAF provides crucial early-stage investment and entrepreneurial support that will allow Bee Networx to flourish. To qualify for investment, Bee Networx demonstrated clear, sustainable and competitive market advantages for its technology, and flagship product, LinkPro.

LinkPro – offers a new approach to data routing that significantly reduces mobile data costs, while increasing the quality of communication. The solution allows organizations to offload large data transfers from expensive 3G networks, to essentially free WiFi networks, while managing battery life, and extending user experience, with increased speed, improved network coverage, and performance.

Bee Networx will leverage the IAF investment to conduct market research and develop a commercialization strategy and business plan; refine and improve its technologies; protect intellectual property; expand sales and marketing initiatives, and create high-value jobs in Ontario

About IAF
The IAF is part of the government of Ontario’s Market Readiness Strategy which Ontario Centres of Excellence is delivering in partnership with MaRS and the National Angel Organization. Together these organizations provide a platform of resources that entrepreneurs and innovators can access to help create successful businesses.

In addition to critical seed investment that is often challenging for early stage companies to secure, the IAF provides access to valuable services such as technology and prototype development, market research, and business mentoring through the Business Mentorship and Entrepreneurship Program. IAF is an active partner in each of the companies it funds, providing a high level of support and expertise to help portfolio companies succeed and make them attractive to follow on investors.

About Ontario Centres of Excellence (OCE) Inc.
Ontario Centres of Excellence (OCE) Inc. drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario’s global competitiveness. In doing this, OCE fosters the training and development of the next generation of innovators and entrepreneurs and is a key partner with Ontario’s industry, universities, colleges, research hospitals, investors and governments. OCE’s five Centres work in communications and information technology, earth and environmental technologies, energy, materials and manufacturing and photonics.

Contact: Sean McNeely, Manager, Communications & Media Relations, Ontario Centres of Excellence (OCE) at 416-861-1092 x1034 or sean.mcneely@oce-ontario.org at 416-934-1040 x21 or mark.kerbel@regenenergy.com ***

About Bee Networx
Bee Networx is a system software company that is transforming mobile data communication with new technology for the management and transmission of bulk data to and from mobile devices.  Our proprietary technology is based on a game-changing new protocol developed at the University of Waterloo, Canada, that delivers seamless, cost-effective connectivity, unprecedented session persistence, and improved performance.

Contact: Susan Levinsky, VP, Marketing, Bee Networx at susan.levinsky@beenetworx.com