The Honourable Bernard Davis, Minister of Tourism, Culture, Industry and Innovation, and Sarah Stoodley, Parliamentary Secretary for Tourism, Culture, Industry and Innovation, continued #NLTechTour2020 at Mysa yesterday, to view the company’s expanding range of smart thermostats designed to help customers save energy and lower their electricity costs.
Mysa is a mobile app enabled, Wi-Fi compatible, line voltage thermostat that combines a sleek design with innovative software to give users total control of their heating systems remotely. This innovative product maximizes energy saving by using algorithms based on user habits and big data to automate a heating schedule, without sacrificing the homeowner’s comfort. Using Mysa, projected cost savings could potentially reach 20 per cent annually.
Mysa began as an idea of co-founders Joshua and Zachery Green in 2014. Six years later, the Mysa team is growing exponentially; currently at over 60 employees, Mysa expects to grow to over 100 employees by the end of 2020. With smart thermostats for electric baseboard and in-floor heating currently in-market, Mysa will announce their newest product in Spring 2020.
Since 2016, the Provincial Government has supported Mysa with $990,000, including two re-payable business loans. The company has repaid both business loans in full, and used the other contributions to assist with the development and marketing of their growing line of smart thermostats.
The Canadian Innovation Exchange named the company as one of its top 20 early-stage startups, and Mysa is one of only 10 Canadian companies to be accepted in the prestigious Lazaridis Institute’s Scaleup Program, which brings together the most promising growth-stage tech companies from across the country.
As committed in the provincial Business Innovation Agenda and Technology Sector Work Plan, the Provincial Government supports innovative and entrepreneurial companies that create new jobs and opportunities, while fostering innovation in our provincial economy.
“Our government’s vision of improving energy efficiency is very much aligned with the innovative abilities of Mysa through our Energy Efficiency Loan and Home Energy Efficiency Loan Programs. We are proud supporters of Josh and Zach, who are great examples of this province’s business lifecycle, having built their company from their parents’ house to one of the North America’s most popular smart home platforms.”
Honourable Bernard Davis
Minister of Tourism, Culture, Industry and Innovation
“Starting a business is a really difficult endeavour and starting a company that sells physical goods with large capital costs for inventory adds another level of difficulty. Mysa is very thankful for the support from the Province to overcome these financial challenges and we are very proud to say we have paid back all working capital loans on schedule. I hope it sets the example of how the Province can support local businesses with the kickstart they need.”
Mysa Smart Thermostats
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Tourism, Culture, Industry and Innovation
Mysa Smart Thermostats