Speech Article from
Archived - Investing in Business Innovation Initiative Funding Announcement for CrowdCare Corporation
Costas Menegakis, Member of Parliament for Richmond Hill
Richmond Hill, Ontario
March 17, 2015
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Good morning ladies and gentlemen, friends and guests.
Thank you, Minister Goodyear for the warm introduction.
Thank you to the representatives from CrowdCare for welcoming us today.
As a Member of Parliament, one of the best parts of my job is supporting the people and the businesses in the communities I represent.
As a former businessman myself, I am particularly proud of Canada's reputation for having innovative start-ups.
I'm even more proud that our Government is supporting these start-ups to compete in the global marketplace through a variety of programs and services, such as those offered by FedDev Ontario.
In fact, to date, FedDev Ontario, has invested nearly $40 million in more than 90 projects in York region.
There are exciting products being developed in our region. I know that Minister Goodyear and MP Kent were in Markham recently to announce funding for HubHead Corporation. And Minister Goodyear and Minister Fantino announced funding for York Angel Investors Inc. to grow its membership and to support even more entrepreneurs and businesses.
Here at CrowdCare, your company has come up with a solution that will make life easier for those of us with mobile devices ─ which these days, is pretty much all of us.
With its software platform called Wysdom, I understand that consumers can get quicker solutions to their technical problems by using an application.
Wysdom is advantageous for mobile carriers, as they can provide better customer service and technical support. And Wysdom can be easily configured and adapted to meet the specific needs of each mobile carrier and their existing systems.
The mobile business is a strategic and growing market to explore, given that there are more than 500 million mobile subscribers in the Americas alone.
With this in mind, I'm pleased to deliver the good news you're all anxious to hear.
To enhance and promote its innovative Wysdom platform to new clients, FedDev Ontario is pleased to provide up to $750,000 to CrowdCare.
Using the funding, the company will develop additional upgrades to the Wysdom platform, complete intellectual property protection, as well as hire and train sales and marketing staff to promote the product globally to mobile carriers.
And I'm sure you will all be pleased to learn that this project is expected to create up to 21 permanent jobs and maintain 13.
The project is also leveraging up to $1.5 million from venture capital and angel investors, who are committed to helping CrowdCare to grow and succeed.
Contributions like these show our Government's commitment to helping this region prosper and to keeping Ontario a great place to do business.
Congratulations and I wish all of those involved the best of luck and success.
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