Canada funds nearly $6.2 million to five Toronto businesses to enhance tech sector, create jobs

Toronto Tech sector enhancement. Representational imsge by Oliver Pecker on Unsplash

#TorontoTechSector; #TorontoJobCreation

CMEDIA: Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), along with Julie Dzerowicz, Member of Parliament for Davenport, jointly announced a total investment of nearly $6.2 million to support the growth of five innovative tech businesses across Toronto including support for the five projects, a news release said.

“The five tech companies highlighted today are leaders and innovators that are growing and enhancing the ways we work, live and do business…to a cleaner economy, stronger frontline healthcare and skilled job creation for generations to come,” said Tassi.

Incorporated in 2012 as a Software-as-a-Service (SaaS) business that provides digital management services to content creators, Aux Mode Inc. (AMI) will receive $1,190,000 to scale its digital and content management platform used by studios, distributors and the film industry to protect to monetize content will be able to integrate with eight additional digital platforms, including Facebook, Tubi, Amazon Prime Video, IMDB TV, Pluto TV, Roku, Pure Flix, and Direct TV to enhance Canadian content production and create 12 skilled jobs.

Formerly known as Cambridge Brain Sciences Inc., Creyos Health working closely with The Brain and Mind Institute at Western University, a recognized leader in web-based assessments of cognitive function and brain health would receive $1,500,000 to enhance commercialization of its web-based cognitive assessment platform and launch a new Workplace Safety Platform to assess employees’ fitness for new corporate clients, including physicians, health networks and hospitals in Canada and the United States, as well as create 26 skilled jobs.

A woman-led software-as-a-service (SaaS) company, Manifest Climate Inc. supports organizations such as financial institutions, corporations and government entities with climate-related insights, analytics and recommendations would receive $1,000,000 to further develop its artificial intelligence (AI) software platform to help organizations understand, manage and communicate climate change related risks both nationally and internationally, increase corporate awareness on climate issues and create 10 skilled jobs.

Integrates with electronic health records to support clinical decisions and optimize hospital reimbursement of medical procedures, operations for health organizations, Semantic Health Inc. would receive $2,000,000 to accelerate the commercialization of its platform, SHIP, in hospitals and organizations to help improve efficiencies in their medical coding, billing, auditing, and documentation processes, and expand across Canadian and United States markets and create five skilled jobs.

Providing cataloguing services to various clients across a broad spectrum of industries, including manufacturing, banking and pharmaceuticals, ThinkData Works Inc. would receive $2,000,000 to accelerate commercialization of its digital catalogue, and tailor the platform to grow its customer base, increase global market presence and create 20 skilled jobs.

Toronto is home to the largest technology hub in Canada and third largest in North America, with 24,000 companies and 289,000 technology workers.