Vancouver-based Wavefront, also known as Wavefront Wireless Commercialization Centre Society, is having a spectacular day with two investment announcements. Earlier today, the Government of Canada declared it will inject up to $9.5 million over the next five years as part of the Canada Accelerator and Incubator Program (CAIP).
Rogers Communications has now announced that they will invest into Wavefront by a commitment of $4 million over the next five years “to accelerate the growth of machine-to-machine (M2M), the Internet of Things (IoT) and wireless businesses in Canada.”
Rogers noted that the number of connected devices by 2018 will be 114 million and generate total revenues of $21.1 billion. In addition to the monetary investment, Rogers will also offer technology tools, training and mentorship programs.
“At Rogers, supporting homegrown technology businesses is in our DNA, and we see a distinct growth opportunity for Canadian businesses in the M2M, Internet of Things and wireless application space,” said Gord Nelson, VP Sales, BC, Alberta & Prairies, Rogers. “Our commitment to Wavefront will give businesses in Vancouver and across the country access to programs and industry experts to help them drive growth in their business and allow them to better compete on a national and global scale.”
“The success of our award-winning acceleration program would not be possible without the support of industry leaders like Rogers,” said James Maynard, Wavefront President and CEO. “Beyond the financial investment, the experience Rogers brings to the table will help businesses better compete with global counterparts, drive new job creation and invigorate the technology community across the country.”