RIM went public in 1996 and raised $36 million in a special warrant - which is similar to an Initial Public Offering (IPO), but occurs privately - the largest technology special warrant at the time.
1997 - The company was listed on the Toronto Stock Exchange in 1997 and raised an additional $115 million. The millions of dollars that were raised in the 1997 IPO-offering didn't preclude further government assistance.
1998 - RIM received $5.7 million from Industry Canada's Technology Partnerships Canada. This money was lent to help further the government's agenda to establish Canada as a global technology center, and to assist RIM in developing the next generation of mobile email handhelds. The loan was repayable out of future profits.
1999 - RIM listed on the NASDAQ and brought in $250 million.
RIM's success was further rewarded by the Canadian government with an additional $33.9 million in 2000 from Industry Canada's Technology Partnerships. The Innovation Strategy website announces that RIM has benefited from the Government of Canada's Scientific Research and Experimental Development investment tax credits, which amounted to nearly a $12 million savings in 2002 alone.
The demand for BlackBerry has brought thousands of jobs to the Waterloo area, many for local graduates, and the investment in local universities has undoubtedly improved the facilities and research possibilities.
