Seven Manitoba tech companies receive $7.4 million in loans from federal government

Winnipeg

Seven organizations based in the province of Manitoba have received a collective $7.4 million in loans from the federal government.

“The funding announced today will make sure we have the talent in Manitoba to drive digital innovation forward.”

The loans were issued through Western Economic Diversification Canada, a regional development agency that issues investments to various projects in Manitoba, Saskatchewan, Alberta, and British Columbia. The organizations receiving funding including 151 Research, Economic Development Winnipeg, The Information and Communication Technologies Association of Manitoba, New Media Manitoba, Pricerazzi, Tangent Holdings, and Trainfo Corp.

“The funding announced today will make sure we have the talent in Manitoba to drive digital innovation forward,” said Terry Duguid, parliamentary secretary to the minister of Status of Women and Gender Equality and member of parliament for Winnipeg South. “These investments will help western Canadian businesses create high-quality jobs and compete in the knowledge economy, led by creative, boundary-pushing ideas and people.”

Economic Development Winnipeg received $689,814 to develop and deliver a talent attraction and retention program for high-growth companies experiencing skill shortages, including in the digital technology sector.

151 Research received a $310,000 loan to commercialize grain quality monitoring technology that will allow producers to reduce the risks of spoilage. Founded in 2011, the company is a data assurance and custom development firm, developing bespoke hardware and software solutions to give its clients business insights.

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The Information and Communication Technologies Association of Manitoba received a $2 million loan to establish the Pathways in Technology Early College High School (P-TECH) program in Manitoba. Students enrolled in P-TECH will receive a post-secondary education in STEM areas through high school and college courses.

New Media Manitoba, a non-profit association serving Manitoba’s interactive digital media industry, received a $2.2 million loan to deliver business development services in support of the exponential growth of the digital media industry in Manitoba. The organization offers training events, business development opportunities, trade missions, partnerships and collaboration opportunities for Manitoba’s digital media ecosystem.

Pricerazzi, an app that tracks users’ receipts for price matches, allowing them to claim money back on everyday purchases, received a $1 million loan to expand its digital price protection service into the European market.

Trainfo Corp. received $180,000 in repayable funding to help reduce traffic congestion at railway crossings using digital technology. Trainfo provides real-time and predictive train crossing information to mobility companies, fleet management software providers, and routing and navigation systems to support a world with seamless and safe mobility.

Finally, Tangent Holdings received $784,000 in repayable funding to commercialize a cloud-based 3-D animation system.

“Canada has always been innovative and these investments will continue to foster digital innovation and excellence, while developing key skills in our labour force and attracting talent,” said Navdeep Bains, minister of Innovation, Science and Economic Development. “By making strategic investments that build on our competitive regional advantages, we are translating Grow West into action to build a stronger Western Canada and provide opportunities for all Canadians to participate in and benefit from the digital economy.”

Image courtesy Robert Linsdell via Flickr

Isabelle Kirkwood

Isabelle Kirkwood

Writer, globetrotter, drone pilot & David Attenborough enthusiast