The Opportunity Deteck's founder saw an opportunity for exploiting the UVS system in a market niche that, up until now, has been under-marketed. The opportunity comes with many challenges. Setting up opportunities for remote testing of the product is difficult. There is a lack of testing facilities in Canada and access to water is limited to four months a year. Additionally, relying on another individual's knowledge and skill with testing can create unique problems.
Funding is also an issue.
Deteck was funded initially by its founder and gradually was able to negotiate a loan from the Business Development Bank of Canada. As the sales cycle is long for this type of product, additional financing will be required in 1998 and the company is looking for private investors to fill this gap in financing. Working with Mr. Stone and his contacts at the Canadian Technology Network Deteck was able to complete patent applications for the UVS system as well as conduct a market preview in early 1997. A market survey was also sponsored to document the size of the potential opportunity and lay the foundation for a detailed business and marketing plan. Provincial and Federal export development programs will be sought to assist with attendance at major trade shows.