Open Data Exchange gets $3M FedDev funding
ODX will support the development of industry standards for machine-readable and freely shared open data.
WATERLOO, Ont. — Communitech Corp., a Waterloo, Ont. company that supports tech companies, is getting up to $3 million from FedDev Ontario to establish the Open Data Exchange (ODX).
The ODX will support the development of industry standards for open data, which is machine-readable and freely shared, used and built without restrictions; build a national marketplace for commercialization; and support a pan-Canadian open data innovation community that will incubate 15 new data-driven companies.
The project is expected to create 370 direct and indirect jobs, and leverage $3-million from project partners with an additional $50 million in venture capital and other financing.
Communitech, with its project partners Desire2Learn, OpenText Corp. and the University of Waterloo, will be matching FedDev Ontario’s $3-million contribution.
The ODX will be temporarily located at OpenText Corp. in the David Johnston Research and Technology Park in Waterloo before moving to a permanent home in uptown Waterloo.