FedDev Ontario to invest $14.6 million to support growth of six Toronto tech firms | IT World Canada News

They are repayable contributions that support advancements in robotics, artificial intelligence, cloud-based and Internet of Things solutions, specialized software and the establishment of a new manufacturing facility to mass-produce nanosatellites. Together we will diversify the economy, create good jobs for Canadians, reach new technological advancements and position our businesses to succeed post-pandemic,” said Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario, in a March 31 press release. Allison Watson, manager of public affairs and ministerial services for FedDev Ontario, detailed some of the terms and conditions of the repayable contributions, noting they’re not meant to compromise a project’s success. • None to support a three-year global expansion into the European, Latin American and Asia and Pacific markets, which will enable the company to attract new business opportunities and compete on an international scale. • None $1.9 million to the cloud-based HR software solution provider Humi Holdings to build additional capacity to support the growth and commercial launch of new platform features, which will expand its Canadian customer base and allow for diversification into new global markets.