FedDev Ontario announces $3M investment in Ottawa networking firm

The commercialization of Canadian innovation has historically been below expectations, which could be why the Canadian government saw fit to invest over $2.9 million through FedDev Ontario into Rockport Networks Inc., an Ottawa-based networking solution firm.

Announced earlier this week by Karen McCrimmon, the parliamentary secretary to the minister of public safety and emergency preparedness and the member of parliament for Kanata-Carleton, the announcement stated that this investment, which will also leverage $5.4 million in private sector funding, will aid in the acceleration of commercialization of Rockport’s high-performance networking solution.

FedDev Ontario’s investment in Rockport Networks Inc. will support the growth of a highly resourceful local company in an industry that demands innovative solutions for connectivity and networking,” said McCrimmon. “This announcement is great news for Ottawa, as it supports the scale-up of a local business, strengthening the ICT cluster and creating quality jobs in the region.”

Rockport, which was founded in 2012, said that this investment will not only allow them to create 20 new STEM jobs in the Ottawa area but will also allow Rockport to contract local manufacturers, engineers and software developers. To accelerate the commercialization of its product, Rockport will adapt its proprietary technology specifically for the server market, undergo product refinement, and will execute market development and product launch activities.

Thanks to this partnership with FedDev Ontario, Rockport is positioned to accelerate market entry of our Canadian networking innovation, deliver the economic, environmental and security benefits, and continue to build a highly-skilled labour force,” said Doug Carwardine, the co-founder, president, and chief executive officer of Rockport.

Would you recommend this article?

Share

Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.


Jim Love, Chief Content Officer, IT World Canada

Featured Download

Buckley Smith
Buckley Smithhttps://www.itbusiness.ca
Staff writer for IT World Canada. Covering the world of technology as it applies to business. Buckley is an avid sports fan who loves travel, food, and music. Can be contacted at bsmith@itwc.ca or 416-290-2000.

Featured Articles

Cybersecurity in 2024: Priorities and challenges for Canadian organizations 

By Derek Manky As predictions for 2024 point to the continued expansion...

Survey shows generative AI is a top priority for Canadian corporate leaders.

Leaders are devoting significant budget to generative AI for 2024 Canadian corporate...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now