iS5 Communications and Crypto4A Technologies receive FedDev Ontario funding
Maryam FaragBusiness Operations Government Manufacturing Business Canada Economy FedDev Ontario government Innovation manufacturer manufacturing Technology
Helena Jaczek, Minister responsible for FedDev Ontario, announced a combined investment of $4 million to support the scale-up of two businesses: iS5 Communications Inc. and Crypto4A Technologies Inc.
This combined investment will create 45 jobs, and leverage nearly $14 million in private sector support to the region.
Crypto4A Technologies Inc., an Ottawa-based cybersecurity firm, is receiving a repayable contribution of $2 million to accelerate commercialization of its QxEDGE quantum-safe cybersecurity platform, designed to keep user information secure while protecting the privacy and integrity of data. With this investment, Crypto4A will launch the next iteration of the platform, QxEDGE II.
“With this support, our people can now help prepare the next generation of cybersecurity experts and enable unique technology partnerships that help re-establish the Ottawa region as a global epicentre for cybersecurity and cryptography,” said John M. Scott, Chair and CEO, Crypto4A Technologies Inc.
Mississauga-based iS5 Communications Inc. is receiving a repayable contribution of $1.9 million to refine its RAPTOR suite of products that securely monitor critical infrastructure and information for military, government and industry purposes. This investment will generate local supply chain benefits as iS5 Communications sources over 60 per cent of its parts locally and works with more than 20 suppliers and manufacturers across southern Ontario.
“As a Canadian manufacturer of secure critical infrastructure communications solutions and a fast-growing global exporter, our success depends on the ability to employ high-skilled people,” said Clive Dias, Founder, President and CEO, iS5 Communications Inc. “With this valuable contribution, we will be able to retain and hire talent and accelerate our path to technology and market leadership.”