The Wavefront Wireless Commercialization Centre Society this week announced the results of their economic impact report.
Wavefront, a national organization dedicated to accelerating the growth of mobile and wireless companies, believes that the technology sector is Canada’s new economic engine, and their report—compiled by Bytown Consulting—reinforces this notion.
The study found Wavefront’s programs and services, which target small businesses and startups, have generated nearly 7,000 jobs, including almost 2,000 direct jobs, and have also accelerated time-to-market by an average of five months, saving companies an average of more than $30,000 per year.
“Wavefront has a proven track record of helping companies commercialize their technology and grow,” says James Maynard, President and CEO of Wavefront.
According to the report, every $1 of public funding generated $14.70 in economic benefits (as measured by GDP) and $6 in income, sales and property taxes.
“We help create healthy, sustainable companies that are seizing global market opportunities and generating significant economic benefits for Canada,” says Maynard.
Services offered by Wavefront include acceleration, mentoring, and workspaces.