FedDev Ontario investment of $10 million for three companies to create 80 jobs and scale up innovative technologies
December 2, 2022 – Kitchener, Ontario
Kitchener-Waterloo boasts one of the most dynamic and diverse tech industries in North America. The Government of Canada is committed to investing in these companies and entrepreneurs as they push the boundaries to expand globally, create jobs, and strengthen our economy.
Today, the Honourable Bardish Chagger, Member of Parliament for Waterloo, on behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), along with Valerie Bradford, Member of Parliament for Kitchener South–Hespeler and Tim Louis, Member of Parliament for Kitchener–Conestoga, announced an investment of over $10 million, for three cutting-edge KW tech companies: Miovision Technologies, Advanced Electrophoresis Solutions and Huron Digital Pathology.
Miovision Technologies is a leading Kitchener-based company that enables cities and towns to reduce traffic congestion and vehicle emissions, while improving public safety through intelligent transportation solutions. With this $7.4-million repayable investment, through the Jobs and Growth Fund, Miovision will further develop TrafficLink and Scout, its traffic monitoring hardware and software, increasing the network by up to 100,000 intersections in North America by 2026. It will also further the transition into “Smart City” technologies, expanding its presence globally and adding 58 skilled-jobs.
Advanced Electrophoresis Solutions Ltd. is a Cambridge-based medical technology manufacturer that specializes in developing test instruments for pharmaceutical companies to analyze protein structures and interactions. This repayable investment of more than $1.7-million, through the Business Scale-up and Productivity stream, will allow the company to increase production of ready-to-use customized testing instruments and augment its sales and marketing team. As a result, the company will expand its market presence in Europe and Asia, and create 11 skilled jobs in Waterloo Region.
Huron Digital Pathology is a St. Jacobs-based medical equipment company that develops digital imaging solutions for the clinical, research and education markets in the pathology field. With this $1-million repayable investment, through the Business Scale-up and Productivity stream, the company will expand production of its digital pathology scanners and fast-track commercialization efforts. It hopes to revolutionize disease diagnosis by being the first company to bring to market an Artificial Intelligence (AI) enabled image search engine for use in the pathology field. As a result of this project, the company expects to significantly increase its productivity with the goal of producing more than 100 scanners per year, while creating up to 11 skilled jobs.
Quotes
“Tech companies, like the three highlighted today, are what builds Waterloo region’s growing resume of research and innovation. Canadian tech companies work tirelessly to bring new products and processes to markets that will benefit our regional economy and Canadians. The Government of Canada is committed to supporting businesses as they adopt new digital solutions, enhance global competitiveness and create local jobs that will contribute to a growing economy that works for everyone.”
– The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
“Through investments like the ones announced today, we are fostering the growth of a crucial sector of our economy while also creating 80 jobs and continuing to attract talent to Waterloo Region.”
– The Honourable Bardish Chagger, Member of Parliament for Waterloo
“Waterloo Region is home to an internationally known tech sector, and I am fortunate to represent many of the people who are working hard to make our community stronger. We look forward to seeing the impact this federal investment in these three tech businesses will have for the region and for Canadians.”
– Valerie Bradford, Member of Parliament for Kitchener South–Hespeler
“As cities and towns look for ways to keep people moving – safely and efficiently – the market for our products and services is growing, this funding will help us ramp up production in Kitchener to serve this growing demand.”
– Kurtis McBride, CEO, Miovision Technologies
“With the funding support from FedDev Ontario, we can now accelerate the development of our ready-to-use mass spectrometry coupling solutions with various methods and applications and help our existing and potential customers quickly deploy and use our systems and consumables and the growing success with our solutions will allow us to expand our market and services to other fields of life science research and pharmaceutical companies within the next few years.”
– Dr. Tiemin Huang, CEO, Advanced Electrophoresis Solutions Ltd.
“Huron Digital Pathology is pleased to announce our support from FedDev Ontario to help expand our manufacturing capacity and create highly-skilled and well-paying jobs in Ontario.”
– Audil Virk, President, Huron Digital Pathology
Quick facts
- Kitchener-Waterloo is one of the fastest growing tech hubs in the world, with over 1,500 tech companies employing over 24,000 Canadians.
- Established in 2005 by three University of Waterloo engineering students, Miovision Technologies is headquartered in Kitchener, with offices located globally. In 2020, Miovision Technologies received the Innovator of the Year award given out annually by the Canadian Innovation Exchange (CIX) to a company that “disrupts and transforms an industry in profound ways.”
- Established in 2010, Advanced Electrophoresis Solutions Ltd. has many globally recognized pharmaceutical companies and research companies as customers. It is the only company in the world with a commercialized, end-to-end solution to produce structured characterizations of proteins in biopharmaceuticals.
- Established in 1994, Huron Digital Pathology is a University of Waterloo technology spin-off originally established to produce custom scanning instruments for imaging biomedical specimens, and has since transitioned to produce digital scanners which convert glass slides into high-resolution digital information to support advancement of health informatics and disease diagnosis in pathology.
- Since 2015, FedDev Ontario has invested over $745 million in over 300 technology projects across southern Ontario, creating nearly 20,000 jobs and maintaining over 11,000 jobs. This includes $7.5 million for three Kitchener-Waterloo-based tech companies: Shinydocs Corp., Encircle Inc,. and Proto Research Inc. to help enhance their technologies and increase sales, leading to the creation of 75 jobs across Kitchener-Waterloo.
