Minister Chagger Visits University of Waterloo and Learns How TritonWear Technology is Making a Splash
Backgrounder
November 8, 2016
Today, the Leader of the Government in the House of Commons, Minister of Small Business and Tourism and Member of Parliament for Waterloo, the Honourable Bardish Chagger, attended a demonstration of TritonWear technology at the University of Waterloo. The Minister announced that TritonWear and six other companies recently received funding through the Southern Ontario Fund for Investment in Innovation (SOFII).
Through SOFII, delivered by the Western Ontario Community Futures Development Corporation Association and Community Futures Ontario East interest-bearing business loans are provided to support innovation and growth in small- and medium-sized enterprises.
SOFII funds will help to increase the competitiveness of southern Ontario businesses, the economic diversification of southern Ontario communities and to create high-value jobs.
Below is a list of projects recently funded through SOFII. For the list of loans provided to date, please visit: Western Ontario Community Futures Development Corporation Association and Community Futures Ontario East.
| Recipient | Program | Project Description | Amount Received |
|---|---|---|---|
| In The Chat | SOFII | To accelerate commercialization of its enterprise scale digital customer service platform throughout North America and add new clients, to be supported out of the Waterloo office. | $500,000 |
| Jem Strapping | SOFII | To finance capital equipment and working capital for a new manufacturing facility. | $500,000 |
| Nicoya Lifesciences | SOFII | To accelerate the commercialization of the OpenSPR nanotechnology product. | $500,000 |
| Root Cellar | SOFII | To help support, further develop, market and sell its new RootSecure cyber security risk management system. | $500,000 |
| TeTechS | SOFII | To assist with technology development, hiring of engineers, hardware specialists, and mount a marketing strategy to raise TeTechS' advanced terahertz sensor technology platform profile. | $500,000 |
| TritonWear | To support the final development and commercialization of the TritonWear device. | ||
| Weever Apps | SOFII | To assist with product development and marketing of mobile web app technology. | $500,000 |
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