Three Ottawa tech companies receive over $11 million from FedDev Ontario
Summary
“Helping companies innovate so that they may increase their competitiveness and create high-quality jobs has been at the heart of our priorities for many years,” said Canada’s Minister of Economic Development Mélanie Joly, who oversees FedDev Ontario. Solace, which was founded in 2001, builds event streaming and management software that allows companies to seamlessly convey data between applications, sensors, and machines. “As demand for streaming services and the proliferation of consumer devices surge worldwide, our mission has never been more important: help the world’s largest brands own the glass and deliver content everywhere,” said Jason Flick, CEO and co-founder of You.i TV. “Working with leading electronics companies globally, we drive cost reduction, lower risk and save our clients millions in procurement costs,” said Martin Sendyk, president and CEO of Lytica, who called FedDev Ontario’s support “a great help,” adding that it enables the company to “accelerate the transition to a full SaaS business model and address an ever-growing global customer base.” Since November 2015, FedDev Ontario claims it has invested nearly $629 million in 397 tech projects across Southern Ontario. FedDev Ontario expects this latest funding to contribute to the creation of approximately 140 skilled jobs across the Ottawa region, mainly in the fields of science, technology, engineering, and math.
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