Backgrounder: Government of Canada invests in Waterloo Region companies to help them scale up and succeed
July 29, 2020
Waterloo Region is renowned globally as a leading centre of innovation, talent and growth. Boasting the second highest density of start-ups in the world, it is home to some of Canada’s largest technology companies and leading global brands, as well as many emerging tech companies and innovative manufacturers.
Today, the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedDev Ontario, announced a total FedDev Ontario investment of nearly $30 million to support eight innovative businesses as they scale up and grow, commercialize innovative technologies, and create high- quality jobs in Waterloo Region.
- Axonify Inc. is an innovative, woman-led software company that develops corporate eLearning tools and solutions for clients on the frontline. FedDev Ontario’s repayable contribution of up to $7.2 million will enable the company to reach new export markets in the United States, Europe and Asia, as well as expand into new target sectors such as government and health. Axonify Inc. expects to create 81 highly skilled positions in software development, sales, marketing and management.
"The FedDev Ontario program and its associated funding has been invaluable to Axonify as we navigate the uncertain markets during COVID-19 while still looking to capitalize on growth opportunities. Having the access to this capital has allowed us to help maintain our current staffing while also looking to continue to build and expand our team."
— Carol Leaman, CEO, Axonify Inc.
- Onward Manufacturing Company Limited is a manufacturer of gas barbecue grills in Canada and the United States, with products sold under the Broil King, Broilmate, Sterling and Huntington brands throughout North America and to over 40 countries around the world. FedDev Ontario’s repayable contribution of $6.1 million will allow Onward to enhance its Waterloo facility by automating processes, acquiring advanced manufacturing equipment and implementing LEAN manufacturing processes for all product lines. As a result of this growth project, Onward expects to create up to 175 and maintain high-quality jobs in Waterloo Region.
“Onward is pleased to partner with FedDev Ontario to advance manufacturing in the Waterloo region and support growth and expansion of our Broil King branded barbecues globally.”
— Terry Witzel, President, Onward Manufacturing Company Limited
- Dejero Labs Inc. is a leading network aggregation technology developer that delivers reliable connectivity to broadcast and media organizations covering live news, weather and events from remote locations. FedDev Ontario’s repayable contribution of $5 million will support the company to extend its leading-edge connectivity technology into the Smart Cities space, allowing it to diversify and seize new market opportunities. Dejero expects to create 30 skilled jobs and implement improved mobile connectivity for essential services including emergency response, transit and rural internet service segments.
“In today’s connected world, access to reliable connectivity for sending high-quality live video and real-time data anywhere around the world is critical for many organizations—especially those with a mobile or remote workforce, or operating from fixed locations where wired broadband may not be practical. The support from FedDev Ontario will help accelerate our growth and expansion into new verticals to address the connectivity challenges of an expanding global customer base.”
— Bruce Anderson, CEO, Dejero Labs Inc.
- Intellijoint Surgical Inc. is a state-of-the-art medical technology company that manufactures smart navigation for total joint replacements. FedDev Ontario’s repayable contribution of $4.8 million will further the commercialization of its Intellijoint HIP and Intellijoint KNEE products to additional markets in Canada, the United States, Australia and Japan. As a result of this project, Intellijoint Inc. expects to create 94 and maintain 60 high-quality jobs, including 40 in the fields of Science, Technology, Engineering and Mathematics (STEM).
“At Intellijoint Surgical, we are committed to being a global leader in MedTech, providing homegrown advanced technology to address a real need for improved, affordable accuracy during total joint replacement surgery.”
— Armen Bakirtzian, Co-founder and CEO, Intellijoint Surgical Inc.
- SSIMWAVE Inc. is a cutting-edge video software company that provides perceptual quality measurement and optimization solutions to some of the largest broadcast and streaming operators in Canada and the United States. Their team of scientists, engineers and business professionals leverage technology and problem solving skills in order to make the viewing experience better for customers. FedDev Ontario’s repayable contribution of $4.2 million will allow the company to boost sales and marketing resources and expand its customer bases with new demonstration capabilities. In addition, SSIMWAVE Inc. expects to support 65 high-quality skilled jobs.
“We’re extremely pleased to receive this generous contribution from FedDev Ontario and the Government of Canada. It clearly demonstrates their mandate to scale high-growth businesses. Since commercializing our Primetime Emmy Award-winning algorithm in December 2016, our video solutions are improving the viewer experience for tens of millions of subscribers. FedDev Ontario’s contribution accelerates everything, allowing us to build our team, protect our intellectual property globally and implement systems to handle our international growth.”
— Dr. Abdul Rehman, CEO, SSIMWAVE Inc.
- KA Imaging Inc. is a University of Waterloo spin-off company that specializes in the development of innovative X-ray imaging technologies and solutions for medical, industrial veterinary and security markets. With FedDev Ontario’s repayable contribution of $1 million, the company will accelerate the commercialization and production of its patented portable dual energy subtraction (DES) X-ray detector, Reveal™, to meet consumer demands, including those treating COVID-19 patients. In addition, KA Imaging Inc. expects to create 10 skilled jobs, with an additional 10 jobs to be created post project completion (2024).
“Just imagine if you had a device that could go to the patient, in the hospital, home or long term care facility and with a single X-ray shot, clearly see the bones and soft tissue separately. Well, thanks to our technology, for the first time, now you can. With Reveal, the clinician has the flexibility to get not only a traditional X-ray image, but also two additional images of bones and soft tissue. The new applications now potentially possible are numerous and range from screening of various pulmonary diseases to the placement of lines and tubes in ICU patients.”
— Amol Karnick, President and CEO, KA Imaging Inc.
- TeTechS Inc. produces and distributes non-contact and non-destructive turnkey quality control solutions for manufacturers in the packaging and automotive sectors. With FedDev Ontario’s repayable contribution of up to $700,000, the company will support the commercialization of its TeraGauge™ and PlastiMeasure™ plastic measuring machines, contribute to the vaccine vial manufacturing quality control processes, increase its market share and reduce plastic waste impacts in the production process. In addition, TeTechS Inc. expects to create 19 high-quality skilled jobs.
“Our company is a prime example of how a timely growth capital can enable a high-tech start-up to commercialize a technology with potential to create and dominate a brand-new market category. Our terahertz metrology solutions help to reduce the amount of plastics used to manufacture plastics packaging products hence benefiting both the environment and industry. FedDev Ontario’s scale up funding played a crucial role in our company’s early growth phase, where securing investment capital is both essential and difficult.”
— Daryoosh Saeedkia, Founder and CEO, TeTechS Inc.
- Shimco North America Inc. is a Cambridge-based manufacturer and exporter of smart metal shims, washers and high-precision machined components primarily for the aerospace, space and defense sectors. FedDev Ontario’s repayable contribution of up to $676,000 will increase Shimco’s capacity to produce next-generation metal surface treatments (such as anodizing, priming and painting), helping to increase the company’s competitiveness. This investment will help establish Shimco as Canada’s only fully vertically integrated shim manufacturer and a Tier 1 supplier to Boeing and other global aerospace OEMs. This project will also allow Shimco to curate a centre of excellence for the aerospace industry, which includes the development of an environmentally friendly “green” anodizing line. Shimco expects to create 12 full-time jobs in Waterloo Region.
“We were extremely pleased to be awarded the repayable contribution by FedDev Ontario, without which it would have been very difficult to move ahead with this project. The aerospace industry has been hit particularly hard by the pandemic and this new capability will help us move up the supply chain and compete more effectively domestically and internationally for new business.”
— Peter Voss, President and Owner, Shimco North America Inc.
News Release: Government of Canada invests in Waterloo Region companies to help them scale up and succeed
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