Government of Canada invests nearly $6.2 million to create jobs and grow Toronto’s tech sector

From: Federal Economic Development Agency for Southern Ontario

News release

Five GTA businesses scale up and create over 70 jobs with an investment from the Government of Canada  

July 24, 2023 – Toronto, Ontario                                                                       

Toronto and the GTA have one of the fastest growing tech markets in North America, thanks to a diverse talent pool and industry-leading research and development. The Government of Canada recognizes the vital importance of the region’s tech talent and businesses in helping create more sustainable operations and enhance digital solutions, which is why we continue to make strategic investments to ensure their long-term economic growth.

Today, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), along with Julie Dzerowicz, Member of Parliament for Davenport, announced nearly $6.2 million towards the scale-up and growth of five Toronto-based companies: Aux Mode Inc. (AMI), Creyos Health, Manifest Climate Inc., Semantic Health Inc., and ThinkData Works Inc.

As a result of these investments, these companies will be able to offer innovative digital solutions, support businesses in greening their operations and contribute to improved healthcare delivery. These investments will also support the creation of over 70 skilled jobs across the GTA. The Government of Canada is committed to investing in the people that have the potential to grow our communities and contribute to our economy.

Minister Tassi made this announcement at ThinkData Works Inc. (ThinkData), a Toronto-based company that provides data cataloguing services to help clients in the financial, pharmaceutical and manufacturing industries make better business decisions, collaborate on projects, and develop better products. ThinkData is receiving $2 million to accelerate the commercialization of its digital catalogue and increase its growing customer base through a new sales and marketing team. As a result, the company will increase its global market presence and is expected to create 20 skilled jobs.

Today’s investment is supporting innovation and enhancing our technological capabilities, which will help grow our economy, create good jobs, and fight climate change. Southern Ontario’s potential is immense as we go forward, and the Government of Canada is harnessing that potential to create good jobs of the future and ensure Canadians have a safe and healthy environment. We are committed to making your lives easier, your jobs better, and your community stronger. Details on the projects can be found in the backgrounder.

Quotes

“The five tech companies highlighted today are leaders and innovators that are growing and enhancing the ways we work, live and do business. Today’s nearly $6.2-million investment from our government emphasizes our commitment to a cleaner economy, stronger frontline healthcare and skilled job creation for generations to come.”
– The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario

“Toronto is one of the largest contributors to Canada’s overall economy largely due to our competitive and cutting-edge tech businesses. With today’s investment in these five companies, we are supporting over 70 new jobs and positioning our local economy for long-term success.”
– Julie Dzerowicz, Member of Parliament for Davenport

“This investment represents a strong commitment to supporting Canadian start-ups, and will provide us with additional growth opportunities both here in Canada and abroad as we continue to develop cutting-edge data management, governance, and virtualization technology.”
– Bryan Smith, Co-Founder & Chief Executive Officer, ThinkData Works Inc. 

“To have the support from FedDev Ontario has been invaluable for our team. Our industry is evolving so fast we must be ahead of the market to succeed and scale. Aux Mode has been chasing the incumbents and with the help of the Scale-up program the existing incumbents will be chasing us.   ”
– Adam Rumanek, Founder & Chief Executive Officer, Aux Mode Inc.

“This funding from FedDev Ontario helps Creyos continue our mission to enhance how health care providers evaluate patient cognition. Now, more than ever, providers need objective, scientifically-validated, and reliable solutions to more confidently assess brain health.”
– Marc Lipton, Co-Founder & Chief Executive Officer, Creyos Health

"We are grateful for FedDev Ontario’s support, which will help us to accelerate our growth and continue to hire great Canadian talent. At Manifest Climate, we are on a mission to scale climate resilience globally. Our software helps companies advance their climate strategies to address their financial risks and opportunities as they relate to climate change, as well as prepare for a climate-adjusted future."
– Matthew Critchell, Chief Revenue Officer, Manifest Climate

"The FedDev Ontario investment has enabled Semantic Health to continue to develop their proprietary AI technology to drive efficiencies in Canadian hospitals."
– Nicola Sahar, Co-Founder & Chief Executive Officer, Semantic Health Inc. 

Quick facts

  • 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.

  • Established in 2014, ThinkData Works Inc. is a data technology company that provides cataloguing services to various clients across a broad spectrum of industries, including manufacturing, banking, and pharmaceuticals.

  • Aux Mode Inc., located in Toronto, was incorporated in 2012 and is a software-as-a-service (SaaS) business that provides digital management services to content creators.

  • Established in 2012 and headquartered in Toronto, Creyos Health, formerly known as Cambridge Brain Sciences, works closely with The Brain and Mind Institute at Western University and has become a recognized provider of web-based assessments of cognitive function and brain health. The platform allows healthcare providers to easily administer validated and patient-friendly cognitive assessments and digitized health questionnaires to better measure a patient’s brain health for clinical decision making and patient outcomes.

  • Established in 2009, Toronto-based Manifest Climate Inc. is a woman-led software-as-a-service (SaaS) company that helps organizations such as financial institutions, corporations and government entities  with climate-related insights, analytics and recommendations.

  • Established in June 2019, Semantic Health Inc. is a Toronto-based healthcare technology company. The company’s SHIP platform seamlessly integrates with electronic health records to support clinical decisions and optimize hospital reimbursement of medical procedures, contributing to improved operations of health organizations.

  • Since 2015, the Government of Canada, through FedDev Ontario, has invested over $620 million in more than 680 projects in Toronto (Census Division) estimated to create over 25,000 jobs and maintain over 32,000 jobs.

Associated links

Contacts

Edward Hutchinson
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
Edward.Hutchinson@feddevontario.gc.ca

Media Relations
FedDev Ontario
fdo.mediarel-relmedias.fdo@feddevontario.gc.ca

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