FedDev Ontario invests nearly $16.5 million for 13 businesses and organizations to bring new AI technologies to market and broaden AI adoption
The Greater Toronto Area is a leading centre for artificial intelligence (AI) innovation, anchored by world‑class research, a highly skilled workforce, and a growing network of innovative businesses. Targeted government investments in AI are strengthening Canada's economic competitiveness by fast-tracking adoption and acceleration across key sectors, supporting small- and medium‑sized businesses as they scale, and helping Canadian firms bring new technologies to market.
As part of Toronto Tech Week-a showcase of the region's vibrant innovation ecosystem-we are celebrating local innovators driving Canada's global leadership in tech and AI adoption. The Government of Canada is committed to driving sustainable economic growth, creating high-quality jobs, and ensuring Canadians benefit from a strong, innovative digital economy.
Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), visited the MaRS Discovery District; North America's largest urban innovation hub, located in Toronto's Discovery District. While there, he announced a combined investment of nearly $16.5 million for 13 businesses and organizations across the Greater Toronto Area to facilitate AI adoption and bring new AI technologies to market faster: Cosm Medical, DMD Building Systems, Edgecom Energy, Future Fertility, Naryant, Private AI (o/a Limina), MarkiTech, MinuteBox, ProteinQure, Stratosphere Technology (o/a Fiscal.ai), Trax.GD Corp (o/a Trax), Vector Institute and VisFuture.
