FedDev invests over $9M into seven local companies to support made in Canada solutions

A funding announcement was made today at the Region of Waterloo International Airport that will see seven local companies get some help to bring more Canadian products and services to the market.

Over $9 million will be spread through those companies, from the Federal Economic Development Agency for Southern Ontario (FedDev) , Ruby Sahota, Minister of Democratic Institutions and Minister responsible for FedDev said at the Avidrone Aerospace Inc. hangar on Feb. 12.

Sahota said the funding aims to help all seven companies “grow and enhance their made in Canada offerings.”

“As we look ahead the work you do in your communities will be more critical then ever before.”

Avidrone Aerospace will receive around $700,000 to help accelerate creation of zero-emission cargo drones for medical and defense supplies. They can carry 20 kgs for up to 100 kms, making delivery of supplies more efficient.

“We’re always looking for sales or grants, any help we can get to keep our technology going and hiring people rather than waiting for funding to come to us. It was very timely, the FedDev help and the investment into our company,” said Chief Executive Officer, Scott Gray.

Other companies that got a significant funding boost locally include Alchemy, ($1,800,00) Ball Service Group, ($800,00) FluidAI Medical, ($2,000,000) GeoMate Inc., ($600,000) Planitar ($1,500,00) and Smarter Alloys Inc. ($1,800,00).

The feds hope the funding will help them adapt innovative technology and manufacturing methods.

Bardish Chagger, MP for Waterloo was in attendance and said, “right now more then ever we need resources in our country.”

“We are continuing to support the growth of our AI tech and manufacturing innovation, as well as talent. As we look forward, we will continue to support you. Rest assured that under this leadership, under the federal government and our vision we believe in evidence made decision making,” said Chagger.