FEDDEV ONTARIO’S FOCUS ON ECONOMIC DEVELOPMENT
OCTOBER 2018
In this issue 
OCTOBER 2018
ISSUES ARCHIVE
In this issue
OCTOBER 2018
ISSUES ARCHIVE-
Making Headlines
- FedDev Ontario Support for Angel Investors Will Help Them Help Others
- FedDev Ontario-Supported Southern Ontario Water Consortium Showcases Technologies in Toronto
- Recommendations of the Economic Strategy Tables Released
- Ten FedDev Ontario Recipients Made the Growth 500 List!
- BDC Small Business Week™ Champions Digital Transformations
- And the Winners Are…
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FedDev Ontario Project News & Updates
Making Headlines
Minister Ng (second from left) delivers the good news for angel networks.
FedDev Ontario Support for Angel Investors Will Help Them Help Others
The Honourable Mary Ng, Minister of Small Business and Export Promotion, announced $1.5 million to support four angel networks and two organizations in southern Ontario.
Minister Ng made this announcement during a fireside chat at the 2018 World Angel Investment Summit in Toronto. The investment will help provide entrepreneurs with access to critical venture capital and is expected to have far-reaching gains in support of growing the Canadian economy. In total, FedDev Ontario has invested almost $12 million to strengthen angel networks across southern Ontario. Read the full news release.
An example of one of the featured innovative products at the AWT Showcase.
FedDev Ontario-Supported Southern Ontario Water Consortium Showcases Technologies in Toronto
Thirty-five companies showcased their projects at Southern Ontario Water Consortium’s (SOWC) event, co-hosted by the Ontario Clean Water Agency. The featured product developers received FedDev Ontario funding under SOWC’s Advancing Water Technologies program, which gives water technology innovators access to world-class research and development resources.
Linda Cousineau, FedDev Ontario’s VP, Business, Innovation and Community Development, attended and spoke about the government’s support for clean technology and the growth of Canadian firms. The majority of entrepreneurs showcased are eager to move from the design stage to technology adoption, as part of overall project goals to better manage wastewater, improve water quality and create a more sustainable environment. Follow this link to learn more about how FedDev Ontario support has helped.
Ten FedDev Ontario Recipients Made the Growth 500 List!
Ten FedDev Ontario-supported companies are featured in the 2018 Growth 500 list—showcasing Canada’s fastest-growing companies. In its 30th year, Growth 500 (previously PROFIT 500) ranks companies based on five-year revenue growth. Companies must meet set criteria and apply for the opportunity to compete (at no charge). The 10 companies are as follows, in order of their ranking:
- #10 – Wave (Toronto)
- #20 – Greenmantra Recycling Technologies (Brantford)
- #28 – Martello Technologies (Kanata)
- #63 – Fiix Inc. (Toronto)
- #88 – MaxSold (Kingston)
- #128 – Pliteq Inc. (Vaughan)
- #186 – WordJack (Collingwood)
- #224 – Voices.com (London)
- #265 – Riverside Millwork (Waterloo)
- #305 – gShift (Barrie)
Congratulations to these and all the other companies that made the list!
Recommendations of the Economic Strategy Tables Released
The Economic Strategy Tables—a new model for industry-government collaboration—were announced as part of the Government of Canada's Innovation and Skills Plan to support economic growth in six key sectors: advanced manufacturing, agri-food, clean technology, digital industries, health/bio-sciences and resources of the future.
With the release of the Economic Strategy Tables reports, a long-term vision for global competitiveness, creating more good jobs and realizing wider economic benefits is being offered to Canadians. Over the past year, industry has collaborated with government to determine how to turn Canadian strengths into global advantages, resulting in six bold “Signature Initiatives” that provide a roadmap to spur the economy. The main report, entitled The Innovation and Competitiveness Imperative: Seizing opportunities for growth also includes sector-specific proposals for six areas of the economy: Digital Industries, Advanced Manufacturing, Agri-Food, Clean Technology, Health and Biosciences and Resources of the Future. FedDev Ontario’s Deputy Minister, James Meddings, was one of two federal representatives for the Advanced Manufacturing table who contributed to the discussions and the reports.
BDC Small Business Week™ Champions Digital Transformations
Communications, analytics, operations software and productivity tools. These are the digital technologies that the Business Development Bank of Canada (BDC) will be promoting during this year’s BDC Small Business WeekTM, October 14-20. Since 1979, BDC has led a week of activities to support and inspire entrepreneurs. This year, over 300 events are being staged to help businesses make that crucial digital shift. Cornwall & the Counties Community Futures Development Corporation, which receives FedDev Ontario funding, is joining in by hosting a Bridges to Better Business full-day seminar in partnership with the Cornwall and Area Chamber of Commerce and the Cornwall Business Enterprise Centre. Follow BDC Small Business WeekTM to find out what’s happening in your area.
Vince Killen, ED Community Futures Ontario East and Paulette Prentice, FedDev Ontario’s A/Director, Community Economic Development, were conference presenters.
And the Winners Are…
FedDev Ontario funding supports 37 Community Futures Development Corporations (CFDCs) across southern Ontario, as part of a Canada-wide network that provides business services to small and rural communities. Strategic community planning and economic development are crucial to building economic sustainability in small towns and driving growth and diversification. Community Futures Ontario celebrates the success of its programming and supported businesses at its annual conference. This year marked 25 years and FedDev Ontario was there! Four awards of excellence were presented.
- Innovation Award – Planet Shrimp, Elgin Business Resource Centre
- Community Economic Development – Temiskaming-Cochrane Breeder Coop Bovine Expansion project, South Temiskaming CFDC
- Entrepreneur of the Year – Lecours Motors, Nord-Aski REDC
- Member’s Choice – ACM Designs, Haliburton County Development Corporation
FEDDEV ONTARIO PROJECT NEWS & UPDATES
FedDev Ontario-Supported Martello Technologies Positioned for Growth with TSXV Listing
FedDev Ontario-Supported Martello Technologies Positioned for Growth with TSXV Listing
Martello Technologies Group recently rang the opening bell on the TSX Venture Exchange, marking the company’s first day as a publicly traded firm. The company provides network performance management solutions and has clients in more than 150 countries. Martello’s recent activities reflect the company’s long-term entrepreneurial strategy as well as growing investor confidence—having completed a $7.5-million private placement prior to going public. In 2016, FedDev Ontario provided assistance to Martello to help further develop and market its software as a service (SaaS), which delivers analytics on the performance of a company’s communications network. The company recently announced it will receive up to $2 million from the National Research Council’s Industrial Research Assistance Program. Martello is headquartered in Kanata and employs 61 people.
Third Cohort of Lazaridis Scale-Up Program Announced
Third Cohort of Lazaridis Scale-Up Program Announced
Ten of Canada’s most promising tech companies have been accepted into Wilfrid Laurier University’s Lazaridis Scale-Up Program. This marks the third cohort of emerging companies that have participated since FedDev Ontario contributed to the development of a national scale-up data platform that the school uses to identify high-potential companies for the program. Over six months, participants will travel across North America to take part in weekend workshops with experienced executives. Over the year, the entrepreneurs will be matched with functional-area specialists who provide mentoring and support, as well as other resources they need to scale globally. Since 2016, 20 companies have been part of the program. Find out which companies are in!
Two FedDev Ontario Recipients Collaborate to Create Innovative Mapping and Management System
Two FedDev Ontario Recipients Collaborate to Create Innovative Mapping and Management System
FedDev Ontario-backed companies, ThoughtWire and Mappedin, are partnering to create an innovative platform that will change how people function in commercial spaces. The companies will combine mapping technology with Operations Performance Management systems to create the best possible user experience for those administering, working in and visiting places like hospitals or office buildings. Mappedin received FedDev Ontario funding to commercialize and diversify sales of its indoor mapping software technology, which leveraged $1.2 million in private investment. Thoughtwire received funding to develop its Ambiant software solution that supports interconnected work environments. Read more about Thoughtwire and how FedDev Ontario helped the company grow.
Waterloo’s Intellijoint Is Improving HIP Surgery Around the World
(Left to right): Co-founders Andre Hladio, Armen Bakirtzian and Richard Fanson run the privately held med-tech company.
Waterloo’s Intellijoint Is Improving HIP Surgery Around the World
Waterloo’s Intellijoint developed disruptive technology that is making hip replacement surgery more effective and affordable—and now the company’s flagship product is available in the UK. Armen Bakirtzian, Intellijoint CEO and Co-founder, and son of a surgeon, was all too familiar with the complications that could result from hip replacement surgery. With early-stage support through FedDev Ontario, his company was able to fully develop its innovative medical device that has now been used in over 5,000 procedures around the world. Recently, Intellijoint broke into the European market and has now entered into the United Kingdom. Learn more about the award-winning company and how it got its start!
Linkedin Highlights
Advancing innovative solutions for protecting critical infrastructure communications and networks. This summer, Mississauga-based iS5 Communications completed a $22-million round of funding that will further enhance its cyber-secure industrial platform, RAPTORTM, launched this year.
Opener Inc. (OPENER) has landed at VentureZone—Venture13’s accelerator space for innovation and entrepreneurship in Cobourg. This marks a return trip for the company that originally got off the ground in Northumberland County. OPENER plans to collaborate with Transport Canada and work towards integrating its Personal Aerial Vehicles into Canadian commuting networks.
AVIN (Autonomous Vehicle Innovation Network) is getting a clearer picture with help from Communitech, with the launch of its Waterloo Regional Technology Development Site. The new innovation hub will help develop high-definition 3D maps for self-driving cars. Find out more about this collaborative initiative and what’s being done in Ontario to support AVIN overall.
Drumroll please! The winner of the first annual RC100 Startup competition… Riverwood Acoustics, designer and manufacturer of premium bluetooth speakers made from reclaimed riverwood! FedDev Ontario stands behind Renfrew County Community Futures Development Corporation and 36 other CFDCs that provide financial support for community economic development.
Upcoming Events
October 14-20
October 22-23
CIX Summit (Toronto)
October 24-26
Ontario Economic Summit (Niagara-on-the-Lake)
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