FedDev Ontario contributes $750,000 to Mississauga company
Maker of ethernet equipment to nearly double its workforce and compete globally
(firmenpresse) - MISSISSAUGA, ONTARIO -- (Marketwired) -- 03/03/17 -- Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
Canadians working for a Mississauga-based manufacturer of telecommunications products will develop faster, more secure ethernet switches and other network equipment as a result of a $750,000 investment from the Government of Canada.
This investment in is expected to create up to 12 skilled jobs - nearly doubling its workforce and allowing the company to develop new products that can be sold globally.
''s funding, through the , was announced today by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, Minister responsible for FedDev Ontario and Member of Parliament for Mississauga-Malton.
iS5 Communications provides mission-critical industrial ethernet products to industries, such as the utilities, defence and transportation sectors. The company produces network equipment that is resistant to extreme temperatures, signal interference and cyber attacks. The resilience of these products allows information and data to be transmitted faster and more securely. iS5 Communications Inc. to be the first of its kind to release a unique cyber security platform and technology to operate reliably in temperatures ranging from -40C to +85C without being affected by frequency interference from other sources.
The Government''s aims to make Canada a global centre for innovation - one that drives economic growth by creating better jobs, opportunities and living standards for all Canadians. This investment is an example of that vision in action.
Quotes
"Where innovation happens matters because that''s where the best jobs are located. When companies such as iS5 Communications innovate, they create well-paying, middle-class jobs. And those jobs spin off into more good jobs in every community where innovation happens. That''s how innovation leads to a better Canada."
"I am very appreciative of our federal government''s support of Canadian technology companies, which is helping us to thrive and grow as a company. The repayable contribution received from FedDev Ontario will help iS5 Communications Inc. to commercialize our products, including our latest innovation, "Raptor," and optimize our supply chain to improve our competitiveness in the global market."
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FedDev Ontario
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Datum: 03.03.2017 - 14:15 Uhr
Sprache: Deutsch
News-ID 1490511
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