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Government of Canada Supports Partnerships and Advancement of Digital Media Technology
January 12, 2016 – Toronto – Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
Today, the Honourable Bardish Chagger, Minister of Small Business and Tourism, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, along with Rob Oliphant, Member of Parliament for Don Valley West, announced an investment up to $4.76 million in the Canadian Film Centre (CFC), to advance the development and commercialization of digital media products in southern Ontario.
The investment will help small- and medium-sized companies develop innovative new technologies and support their scaling up by providing them with access to industry partners, experts and investors, including large, multinational companies in the digital media and entertainment industry.
This contribution builds on FedDev Ontario's initial $3.5-million contribution in 2012, which enabled 51 companies to receive CFC support. The project resulted in the development of 50 new digital entertainment products and services, gaining 11 international awards and 25 nominations. Please see the backgrounder, for more information.
FedDev Ontario's non-repayable contribution is through the Investing in Commercialization Partnerships initiative. The initiative encourages business-led partnerships with post-secondary institutions and not-for-profit organizations to create innovative products, technologies and services.
- FedDev Ontario's investment will support CFC Catalyze – a new project of six linked activities which include: ideaBOOST Engage Program, ideaBOOST Production Labs, ideaBoost Portfolio Program, Digital Transformation Labs, Digital Entertainment Demonstration Projects and ideaBOOST Unleased.
- This project is expected to create up to 216 jobs by the project's completion and will support the development and commercialization of 46 digital media products.
- FedDev Ontario's contribution of $4.76 million will leverage an additional $4.76 million from the Ontario Ministry of Culture, Tourism and Sport; Corus Entertainment and other partners.
- The Ontario College of Arts and Design and the University of Waterloo will also support the project by linking students and resources through the various programs.
"Our Government is focused on supporting businesses and helping the digital media and entertainment industries. We are doing this by investing in smart, collaborative partnerships that fuel growth. This project will open doors for a number of small- and medium-sized businesses, and will lead to the development of innovative products and technologies here in southern Ontario."- The Honourable Bardish Chagger, Minister of Small Business and Tourism
"Today's announcement illustrates the importance of supporting innovators and savvy entrepreneurs. With this project, the Canadian Film Centre will be able to help companies gain access to the resources they need to test, develop, and market new media technologies and products, laying the groundwork for them to scale up and effectively grow the innovation ecosystem here in Canada."- Rob Oliphant, Member of Parliament for Don Valley West
"The Canadian Film Centre (CFC) is grateful for the Government of Canada's recognition of our important role in increasing innovation in Canada's entertainment industry and making it accessible to Canadians. The CFC works closely with the private sector to position our emerging and diverse media professionals and companies for success. In collaboration with various industry leaders, the new CFC Catalyze project will help create sustainable jobs, support new digital media platforms, and commercialize these products, both at home and internationally."- Slawko Klymkiw, CEO, Canadian Film Centre
- Backgrounder: Investing in Commercialization Partnerships Funding Announcement for Canadian Film Centre Inc.
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Hon. Navdeep Singh Bains Hon. Bardish Chagger Federal Economic Development Agency for Southern Ontario Science and Technology Economics and Industry
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