February 12, 2015 – Kitchener, Ontario – Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
MappedIn will strengthen its capacity for analyzing data in southern Ontario, thanks to an investment by the Government of Canada of up to $600,000. The announcement was made today by FedDev Ontario Minister of State Gary Goodyear and Kitchener Centre Member of Parliament Stephen Woodworth.
The Harper Government, through FedDev Ontario, is providing funding to MappedIn to commercialize and diversify sales of their indoor mapping software technology in North America and internationally. They are leveraging up to $1.2 million from local angel investors and venture capitalists.
The project will enable the company to adapt their product to international markets and make the product available in multiple languages and context specific terminology.
The Government of Canada's contributions, through FedDev Ontario's Investing in Business Innovation initiative, are aimed at strengthening the innovation ecosystem in southern Ontario by supporting new entrepreneurs, early-stage businesses and angel investors.
Following the announcement, Minister Goodyear and MP Woodworth visited Thalmic Labs, a wearable technology start-up in Kitchener.
Minister Goodyear and MP Woodworth also hosted a roundtable and met with local stakeholders to discuss challenges and opportunities facing local start-ups and entrepreneurs.
Erica Furtado
Director of Communications
Office of the Honourable Gary Goodyear
613-943-7599
Media Relations
FedDev Ontario
416-954-6652
FedDevMedia@FedDevOntario.gc.ca
Toll Free: 1-866-593-5505
Website: www.FedDevOntario.gc.ca
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