$187,500-contribution helps Ottawa start-up bring portable surveillance device to global markets and create eight new jobs
April 3, 2019 – Ottawa, Ontario
In an increasingly digital and connected world, the Government of Canada is supporting start-ups, such as SmartCone Technologies Inc., that are using innovation to develop products to protect the safety of Canadians.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, announced a FedDev Ontario contribution of $187,500 to SmartCone Technologies Inc. to accelerate market entry of TheSmartCone™-a portable surveillance and Internet of Things device, containing multiple sensors with embedded software, housed inside any object, such as a traffic cone or utility box.
The high-tech detection and early warning system of TheSmartCone™ uses flashing lights, audio and visual messages, posted to traffic signs to alert the public. This warning system increases public safety by sharing pertinent on-the-ground information in many situations including controlling bicycle lane traffic, managing vehicle fleets, monitoring traffic incident scenes, asset tracking, crowd control, site security surveillance and more.
FedDev Ontario’s investment will allow the company to enhance key features of TheSmartCone™ and expand its presence to new markets. In addition, eight new full-time jobs will be created in the Ottawa region.
“As the economy evolves to become increasingly knowledge-based, it is important that we encourage Canada’s competitiveness by supporting companies that are at the forefront of this digital transformation. FedDev Ontario’s funding for SmartCone Technologies Inc. will help to create new economic opportunities, while protecting Canadians and their families.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“Thanks to support from FedDev Ontario, we are growing our Canadian-built business to offer more jobs and bring advanced safety technologies to Canada and across the globe.”
– Jason Lee, Chief Executive Officer, SmartCone Technologies Inc.
Established in 2015, SmartCone Technologies Inc. is a surveillance technology based start-up that provides intelligent, cost-effective, adaptable, scalable, and mobile technology solutions. These solutions offer the highest standard of security and privacy to clients in utility, construction and mining companies, engineering firms, smart cities, auto dealerships, and various policing agencies.
FedDev Ontario’s repayable contribution will leverage an additional $375,000 through private sector investments from eligible angel investors.
This year marks 10 years of FedDev Ontario delivering funding and business services to support innovation and growth in southern Ontario. Since inception in 2009, FedDev Ontario has invested almost $2 billion in the region’s economy, with more than 29,000 jobs created and maintained over the past five years.