Rogers Communications today announced a funding commitment of approximately $4 million to Wavefront to accelerate the growth of machine-to-machine (M2M), the Internet of Things (IoT) and wireless businesses in Canada.
Over the next five years, Rogers will offer financial resources, technology tools, training and mentorship programs to thousands of technology businesses and entrepreneurs that walk through Wavefront’s doors.
Earlier today Minister of Industry James Moore announced that Wavefront will receive up to $9.5 million as part of the Canada Accelerator and Incubator Program (CAIP).
CAIP recipients are required to demonstrate matching contributions on at least a 1:1 basis during the period of the contribution funding and Rogers investment will go towards that amount.
“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.”
“This investment demonstrates Rogers’ support for innovation and entrepreneurship within British Columbia’s expanding technology sector,” said Minister of Technology, Innovation and Citizens’ Services, Andrew Wilkinson.
“Wavefront has done an excellent job of incubating and accelerating technology businesses here in BC, and the continued partnership between Wavefront and Rogers will help fuel the growth of machine-to-machine, Internet of Things, and wireless technology here in our province.”