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Archived - Investing in Business Innovation Initiative Recipients in Waterloo

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March 5, 2015

FedDev Ontario is investing a total of up to $1,775,000 in three high-growth companies.

Recipient

Project Description

FedDev Ontario Contribution (up to)

Anticipated Number of Jobs to be Created by Project

Leveraged Funding

Quote

Auvik Networks

Auvik is network management software offered by subscription.

This project is to market Auvik's initial subscription level, called SEE, and to commercialize and market its next two subscription levels, called TELL and DO.

SEE gives network administrators full visibility of their network. TELL takes the information from SEE and offers suggestions on how to improve the network. DO provides the option to automatically make the improvements suggested by TELL.

$950,000

20 highly skilled jobs created and 29 highly skilled jobs maintained during the project.

$1,900,000 from a syndicate of investors who are members of the Canadian Venture Capital Association including Celtic House Venture Partners and Rho Ventures Canada.

"Auvik makes managing an IT network a dramatically faster and easier task for small and mid-sized business. With this new support from FedDev Ontario, we're very excited to be accelerating the commercialization and marketing of our product. We're eager to kick off the next steps of our development and to bring better network management to more organizations."
– Marc Morin, CEO

Dejero

Further develop and commercialize a wireless broadcast solution that transmits live video captured from cameras with a wireless transmitter, in addition to smartphones and tablets, for a better user experience. The company will also implement a customer relationship management program. The successful delivery of this project will allow Dejero to attract greater global opportunities.

$275,000

25 highly skilled jobs created and 46 highly jobs maintained during the project.

$550,000 from a group of accredited angel investors from Angel One and the Golden Triangle Angel Network.

"The investment from FedDev Ontario will accelerate Dejero's product development and spur new innovations to help broadcasters and media companies reduce costs, realize operational efficiencies, and attract TV, Web, and mobile viewers with compelling live content. The funding will also enable us to target new opportunities for our cloud-based professional video over IP solutions as we expand our global reach."
- Brian Cram, CEO

Intellijoint Surgical

Accelerate the commercialization of Intellijoint Surgical's smart tool for hip replacement−Intellijoint HIP™−in Canada and prepare for expansion into the US and German markets. The project will accelerate commercialization timelines and assist entry into new markets.

$550,000

10 highly skilled jobs created and 13 highly jobs maintained during the project.

$1.1 million from a syndicate of angel investors who are members of the Golden Triangle Angel Network, Georgian Angel Network, MaRS Angels and venture capital investor HTX, a member of Canada's Venture Capital & Private Equity Association.

"We are extremely grateful for the FedDev Ontario Investing in Business Innovation initiative and its continued support for great start-ups like Intellijoint Surgical. FedDev Ontario's initial contribution of $950,000 in 2012 supported the development of our innovative technology and now a further $550,000 will help us get into the marketplace. With FedDev Ontario's support we are able to accelerate the commercialization Intellijoint HIP(TM), a miniature smart tool that assists orthopaedic surgeons with the proper selection and alignment of implants in hip replacement surgery."
- Armen Bakirtzian, CEO

Total:

 

$1,775,000

55 highly skilled jobs created and 88 highly skilled jobs maintained during project.

$3,550,000

 

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