IDC identifies Canadian leaders in web 2.0

Ten companies from Ontario, Quebec and British Columbia are shaking up the Internet landscape. A new study released at the end of July by IDC Canada Ltd. says these are the companies to watch when it comes to exploiting new opportunities in designing user-friendly solutions for web 2.0.Web 2.0 solutions is a broad term applied to a number of applications ranging from solutions that enhance networking between businesses and clients to consumer-oriented sites that allow the creation and sharing of multimedia content. Web 2.0 technology is not necessarily new but as businesses embrace it, many challenges abound in implementing its tools. The study sought to find companies that are involved in cutting-edge technology that not only produce “cool” web-based solutions but “critical” tools that are of benefit to the user, says Krista Collins, analyst with the IDC and author of the study titled 10 Canadian web 2.0 companies to watch—part of a series of six yearly reports on the ICT industry.“There’s a lot of cool stuff out there, but it comes back to what’s the value for me as a user,” she says.One of the companies identified in the study is Ottawa-based Overlay.TV for its video-commerce platform which allows clients to market products or services on top of a video free of charge. Collins says the platform is unique because it allows anyone—professional or amateur—to take any video on the Internet, insert text or a hyperlink, and embed these in the video while it is playing.“As an average user, that’s kind of cool. I can take a video I like, I can add some links to it. If I know a lot about the products in there, I can send it to my friends, and have them check it out,” says Collins.The platform, launched in February this year, has been a hit with musicians and advertisers, says Ben Watson, VP marketing at Overlay.TV.“Musicians love it because they can use it for a music video, then you can click through to buy the song from iTunes or any of their music retailers,” he says.Big names include UK musician Hanna and American jazz musician Earl Klugh. Watson says deals have also been signed with a major recording label, while two more deals with other recording companies are due in the fall. He also says the platform has generated intense interest from the fashion industry. As soon as the company develops features that will allow the posting of text in Asian languages, including Arabic, the door will be open to launch into that market, says Watson.“We see it as going worldwide,” he says. “Right now we don’t have double-byte character support until next year.”Another company doing innovative work using web based solutions is Montreal-based Standout Jobs. Collins says the company has reinvented online job marketing and career sites through a platform launched at the end of January.“What we do is provide a platform for employers or companies to build better career sites,” says Benjamin Yoskovtz, CEO and co-founder. “Better for us means career sites that are engaging and much more interactive. It’s a-do-it-yourself kind of model, which is attractive because if human resource people want to make changes or add something, they don’t have to go to the IT department,” he says.About 85% of the companies profiled in the study sell primarily to the U.S., with some looking to expand to Europe and other places, says Collins. Also, most of the companies are less than 10 years old. Some, like overlay.TV and Standout Jobs are start-ups that were established just last year.But while the future looks promising, Collins says the major challenge facing these 10 companies is user retention.“It’s one thing to have users register on your solution, and it’s another to have them actively contributing and engaged on going on the solution,” she says. Canada’s Top 10 web.20 leadersOverlay.TV –OttawaAdHack—Vancouverdthree Inc.—MississaugaOctopz—TorontoRamius Corporation—OttawaPlanetEye—TorontoSceneCaster—Richmond HillStandout Jobs—MontrealTomoye Corporation—GatineauTungle--Montreal Source: IDC Canada

IDC identifies Canadian leaders in web 2.0

Broadcast | August 4, 2008

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