Government of Canada invests in tech company to ensure economic growth
News release
A $1.75-million Government of Canada investment will support L Squared Digital Signage to upgrade its digital communications platform, expand globally, and create 15 skilled jobs
October 20, 2023 – Toronto, Ontario
Digital technology and big data play an integral role in the way businesses, societies, and economies operate. The Government of Canada recognizes the vital importance that our regional tech talent and businesses play in driving innovation in digital solutions, benefiting both workers and customers.
Today, Ali Ehsassi, Member of Parliament for Willowdale, on behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced an investment of $1.75 million for L Squared Digital Signage (L Squared) to accelerate the growth of its digital communications platform, and create 15 skilled jobs in Toronto.
L Squared’s innovative cloud platform, the L Squared Hub, allows users to control content such as lobby display screens, menu boards and mobile applications, to deliver tailored corporate information, alerts, videos, news and advertisements to customers. This timely information is critical for customers and employees to make informed decisions. This investment will support the upgrade of its L Squared Hub platform to meet the communications needs of a wider range of clients globally. As a result, L Squared will be able to continue helping businesses improve their productivity, market reach, and competitiveness through the ability to publish meaningful digital content at the right place and time to attract customers.
Today’s announcement supports hard-working people in the tech industry so they can reach their full potential, and develop new possibilities for Canadians.
Quotes
“Businesses in Toronto’s thriving tech sector are leading the way. They are developing new ideas and technologies that will improve the way Canadians live, work, and do business. Smart investments, like the one today for L Squared, will help these companies continue to grow, upgrade their features, and support other Canadian businesses with their technology needs.”
– The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
“The Greater Toronto Area (GTA) is one of the largest contributors to Canada’s overall economy largely due to our competitive and cutting-edge tech businesses. With today’s investment in L Squared Digital Signage, we are supporting over 15 new jobs and positioning our local economy for long-term success.”
– Ali Ehsassi, Member of Parliament for Willowdale
“FedDev Ontario's assistance came at a critical point in our business growth. This funding has enabled us to scale into new markets as well as export outside Canada. We currently supply Canadian technology to enterprises in the United States, as well as many countries in Europe, Africa, Asia and Australia.”
– Gajendra Ratnavel, Co-Founder, L Squared Digital Signage
Quick facts
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Founded in 2007, L Squared Digital Signage is a communication software company. Its cloud-based content management software and services are secure, easy to use, effortless to operate, and grow with the needs of customers.
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L Squared markets its product worldwide with customers from franchisees to Fortune 500 enterprises.
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Since 2015, the Government of Canada, through FedDev Ontario, has invested over $880 million in more than 260 projects in the tech sector, creating over 16,300 jobs and maintaining over 11,600 jobs.
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Since 2015, the Government of Canada, through FedDev Ontario, has invested over $620 million in more than 680 projects in Toronto, creating over 24,000 jobs and maintaining over 32,000 jobs.
Associated links
Contacts
Edward Hutchinson
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
Edward.hutchinson@feddevontario.gc.ca
FedDev Ontario
Media Relations
feddevontariomediarelations-relationsmedias@feddevontario.gc.ca
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