Speech Article from
Archived - Investing in Business Innovation Funding Announcement for MappedIn
Stephen Woodworth, Member of Parliament, Kitchener Centre
February 12, 2015
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Good morning ladies and gentlemen, friends and guests.
Thank you, Minister Goodyear, for that kind introduction.
It is a pleasure to be here today to deliver some great news on behalf of the Government of Canada.
As Member of Parliament for Kitchener Centre, I am proud to be here to celeberate today's announcements.
As Minister Goodyear noted, our Prime Minister understands that we need to strengthen our innovation ecosystem here in the Kitchener-Waterloo region and across southern Ontario.
Taking a business idea and turning it into something that does well in commercial markets is what we need to see happen more and more in Canada. It is something that is necessary to keep our fast-growing community of Kitchener-Waterloo thriving.
I'd like to speak about small businesses for a moment. Small businesses are the backbone of the Canadian economy. They employ about 70 percent of the total labour force in the private sector. They account for nearly 90 percent of Canadian exporters, and contribute about 41 percent to Canada's private sector gross domestic product.
But whether your business deals with international customers and markets, or has a more local focus here in southern Ontario, our Government has services, programs and information to help you succeed.
Our Government, through FedDev Ontario, has funded about 2,000 projects in southern Ontario. This includes more than $116 million for 113 projects which are leveraging more than $146 million in investments for the Waterloo Region to date.
Today's announcement is a great example of how we are helping high-potential companies bring great ideas to market faster. Helping our entrepreneurs and original thinkers export their products and services to the rest of the world creates jobs, growth and economic prosperity here at home.
Ladies and gentlemen, the indoor mapping market is growing rapidly and there is a high demand from businesses that are looking to digitize their infrastructure. The field of data analytics is becoming more important as changing dynamics and consumer behaviours are driving growth.
MappedIn is seeking to become more competitive in the data analytics industry. They created their platform for indoor mapping and navigation. It helps consumers navigate through various indoor venues. It enhances visitors' experiences, and collects data on which locations guests are visiting.
The funding they are receiving today will enable MappedIn to market their indoor mapping software technology in North America and internationally.
In order to adapt their product to international markets and to make their product available in multiple languages and context specific technology, I am pleased to announce that our Government, through FedDev Ontario, is providing MappedIn with up to $600,000.
(pause for applause)
Getting Canadian ideas and products to markets around the world helps keep and create new jobs right here at home.
So, I am pleased to note that the project is expected to create 48 new full-time skilled positions during the project, and an additional eight by 2017.
Our Government believes that it is support like this that can help put our southern Ontario innovations and companies on the map.
Congratulations again. I look forward to seeing what new innovative products and ideas are going to come out of the Waterloo region in the years to come.
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