- 6 years ago

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Province of Ontario LogoIt was announced yesterday that three Ottawa firms have received $1.85 million in funding from the Ontario Government.

Here is the breakdown of the companies involved, the investment amounts, and how the money will be used:

  • MDS Nordion
    • Total investment – $850K
    • Purpose of funds – Investment came from Ontario’s Biopharmaceutical Investment Program to help fund commercial trials of a treatment for a type of tumour that affects about 80,000 people annually.
  • You i Labs
    • Total investment – $500K
    • Purpose of funds – Investment came from the province’s Investment Accelerator Fund and will be used to increase marketing programs and hire six additional employees. You i Labs is preparing to launch its first established brand name consumer device at the Consumer Electronic’s Show in Las Vegas in January.
  • Seregon Solutions
    • Total investment – $500K
    • Purpose of funds – Investment also came from the province’s Investment Accelerator Fund, and the company said it will use the investment to help expand staff from 15 to 60 over the next 18 months.