The people
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Working at OMX
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On the TechTO stage
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About
Nicole Verkindt built OMX out of her own experience in offshore manufacturing for defence, where she had learned the mechanics of government procurement and industrial-benefit rules. She told the TechTO stage in June 2017 that she pitched Bay Street investors daily for six months and was turned down every time, and that one venture firm withdrew after a 40-year industry veteran told them the sector would never change. Losing that round, she said, kept her in control of the company and pushed her to fund OMX from customer revenue instead — five roughly $40,000 rounds, government grants, angel money and sales. She also described widening the platform beyond defence into oil and gas after the commodity crash, to help those companies cut costs and manage compliance. Verkindt said in a January 2021 interview with Western University's Morrissette Entrepreneurship programme that she had sold OMX.
Backers
Angel investment, government grants and customer revenue, as described on stage in 2017. No institutional lead was named.
Quick answers
What does OMX do?
It is an online marketplace that connects prime contractors in aerospace and defence with domestic suppliers, helping them find Canadian partners and track the industrial and regional benefit obligations that come attached to government contracts.
Who founded OMX?
Nicole Verkindt, who launched it in 2012 after being let go from the offshore defence manufacturing business she had worked in. MaRS Discovery District records that she was 27 at the time.
How did OMX get funded?
Not through a big venture round. Verkindt told TechTO that after six months of rejections and a lost VC deal, she raised roughly five $40,000 cheques, combined them with government grants and angel money, and focused on sales from customers.