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.
