Ottawa-based companies developing smart transit technology receive government funding
François-Philippe Champagne, Minister of Innovation, Science and Industry, and Mona Fortier, President of the Treasury Board, announced an investment of $3.4 million in Ottawa-based SmartCone Technologies through Sustainable Development Technology Canada (SDTC).
This is the first SDTC investment in SmartCone Technologies and part of a partnership that will help the company develop its “smart corridor” smart transit technology for low-greenhouse gas travel.
SmartCone specializes in researching and developing Internet of Things (IoT) technologies to make traffic safety and site security more intelligent, cost-effective, adaptable, scalable and mobile.
SmartCone will use the SDTC investment to advance its IoT device to monitor and predict pedestrian, cyclist and vehicle pathways, in addition to vehicle speeds and potential collision vectors, while promoting active transit options such as biking and walking with higher safety to reduce greenhouse gas emissions from transportation.
“Canadian entrepreneurs are driving the innovation that is moving us towards a more sustainable and prosperous future. This investment will enable SmartCone Technologies to rapidly accelerate and commercialize its ideas and continues the momentum of public and private commitments to reducing global emissions.” said Leah Lawrence, President and CEO, Sustainable Development Technology Canada.
“This SDTC investment will enable SmartCone to provide a world-class IoT ecosystem that will not only make our cities smarter but also reduce greenhouse gases and help in the fight against climate change.” said Jason Lee, CEO, SmartCone Technologies.