The Honourable Gordon O’Connor, Member of Parliament for Carleton – Mississippi Mills, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), today announced Government of Canada investments of up to $3.67 million to support six start-up technology development companies in the Ottawa area.
“Our government continues to support the drivers of growth and job creation – innovation, investment, education, skills and communities,” said Minister O’Connor. “Investments like the ones announced today will help start-up businesses increase their international market share and create jobs in the Ottawa area.”
Through FedDev Ontario’s Investing in Business Innovation initiative, the contributions will support the following six innovative companies:
- Up to $984,667 for BLiNQ Wireless Inc., developer of hardware for the enhancement of wireless networks
- Up to $950,000 for eSight Corp., developer of assistive technology for people with low vision
- Up to $500,000 for Impakt Protective Inc., developer of helmet sensory technology to measure the risk of concussion
- Up to $500,000 for Magor Communications Corp.
- Up to $450,000 for Fusebill Inc., developers of business application software platforms
- Up to $287,500 for ThinkRF Corporation, developer of hardware for wireless radio frequency analysis
FedDev Ontario funding for these projects will leverage up to $9.8 million in angel investment and venture capital financing.
The companies expect to create up to 123 high-value, full-time jobs in the Ottawa area during the course of these projects, with an additional 202 jobs by 2017.