Government of Canada investments support AI and tech businesses in Greater Toronto and Hamilton Area
Summary
Eighteen GTHA region businesses to scale up products and services to support growthThe Greater Toronto and Hamilton Area ( ) stands as a powerhouse for innovation, fueled by a strong ecosystem of tech talent, startups and industry leaders. By leveraging the GTHAs thriving innovation culture, cutting-edge research and diverse workforce, businesses can stay globally competitive and bring groundbreaking technologies and solutions to the market faster than ever. These goals are aligned with the Pan-Canadian Artificial Intelligence Strategy, a plan that is bridging Canadas world-class talent and research capacity with programs to help improve the commercialization and adoption of Canadian AI innovations.Today, the Honourable Ruby Sahota, Minister of Democratic Institutions and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), along with the Honourable Rechie Valdez, Minister of Small Business and Member of Parliament for MississaugaStreetsville, visited GoFleet, an innovative fleet management company that provides businesses with AI solutions to optimize and manage their vehicle fleets.While there, Ministers Sahota and Valdez announced over $25 million for 18 growing AI and tech companies in the GTHA: ACTO Technologies Inc., Ada Support Inc., A.U.G. For information on the projects, refer to the backgrounder.As part of this investment, GoFleet is receiving $2.7 million to develop and commercialize advanced fleet management technologies that will contribute to reduced CO2 emissions, while supporting the companys growth.Across Canada, entrepreneurs are driving business growth and creating good jobs. We are actively setting Canadian businesses up for success, ensuring they have the tools and resources needed to thrive in an ever-evolving market.
Funding
Review available funding amount, funding date, investors, and linked company information related to Government of Canada investments support AI and tech businesses in Greater Toronto and Hamilton Area in the interactive ISVWorld profile.