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Government of Canada invests $7.5 million in KW tech sector

FedDev Ontario investment to create 75 skilled jobs and help three innovative tech companies scale-up and grow

October 7, 2022 – Kitchener, Ontario

Home to some of the world’s leading tech companies and hundreds of tech-related start-ups, Kitchener-Waterloo is one of the most dynamic tech hubs in Canada. The Government of Canada is committed to supporting companies and entrepreneurs as they grow and bring new technologies to market to better the lives of Canadians, create jobs and strengthen our economy.

Today, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced an investment of $7.5 million for three Kitchener-Waterloo-based tech companies: Shinydocs Corp., Encircle Inc. and Proto Research Inc. This investment will help these companies enhance their technologies and increase sales, which will lead to the creation of 75 jobs across Kitchener-Waterloo.

The announcement was made at an event hosted by Encircle Inc., a recognized top-growing, Kitchener-based tech firm that develops mobile software for the property insurance industry. Encircle is receiving $2.1 million, through the Jobs and Growth Fund, to enhance key features of its claims software that will support real-time claim monitoring and speed up the insurance claims process. This funding will also help increase export opportunities in new markets and create 20 skilled-jobs in Kitchener-Waterloo.

Additional project details can be found in the backgrounder.

Quotes

“The Government of Canada is providing critical support to companies that are developing new, cutting-edge technologies here in southern Ontario and across Canada. Today’s investment will ensure the innovation sector in Kitchener-Waterloo continues to be a global leader by providing support to local companies and ensuring they have the tools they need to produce made-in-Canada technologies that will grow our economy and create high-quality jobs.”
– The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario

“The Government of Canada’s investment in these three tech businesses will not only create 75 new jobs across Kitchener-Waterloo, but it will also support the region’s global status as a tech and innovation hub. Technology is changing our economy and through investments like these, we are supporting the growth of a critical sector, while also attracting more talent and ensuring resiliency in the years to come.”
– Valerie Bradford, Member of Parliament for Kitchener South–Hespeler 

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