Canadian Government Invests $7.5 Million in Kitchener-Waterloo Tech Sector

Home to some of the world’s leading tech companies and hundreds of tech-related start-ups, Kitchener-Waterloo is one of the most dynamic tech hubs in Canada. The Government of Canada is committed to supporting companies and entrepreneurs as they grow and bring new technologies to market to better the lives of Canadians, create jobs and strengthen our economy.

Today, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced an investment of $7.5 million for three Kitchener-Waterloo-based tech companies: Shinydocs Corp.Encircle Inc. and Proto Research Inc. This investment will help these companies enhance their technologies and increase sales, which will lead to the creation of 75 jobs across Kitchener-Waterloo.

“The Government of Canada is providing critical support to companies that are developing new, cutting-edge technologies here in southern Ontario and across Canada. Today’s investment will ensure the innovation sector in Kitchener-Waterloo continues to be a global leader by providing support to local companies and ensuring they have the tools they need to produce made-in-Canada technologies that will grow our economy and create high-quality jobs.”
– The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario

The announcement was made at an event hosted by Encircle Inc., a recognized top-growing, Kitchener-based tech firm that develops mobile software for the property insurance industry. Encircle is receiving $2.1 million, through the Jobs and Growth Fund, to enhance key features of its claims software that will support real-time claim monitoring and speed up the insurance claims process. This funding will also help increase export opportunities in new markets and create 20 skilled-jobs in Kitchener-Waterloo.

“The Government of Canada’s investment in these three tech businesses will not only create 75 new jobs across Kitchener-Waterloo, but it will also support the region’s global status as a tech and innovation hub. Technology is changing our economy and through investments like these, we are supporting the growth of a critical sector, while also attracting more talent and ensuring resiliency in the years to come.”
– Valerie Bradford, Member of Parliament for Kitchener South–Hespeler 

Additional project details can be found in the backgrounder.

Quick facts

  • Kitchener-Waterloo is one of the fastest growing innovation hubs in the world, consisting of more than 1,500 tech-related businesses. The region’s tech sector is predicted to reach 24,000 workers by 2025.
  • Established in 2013, Shinydocs Corporation is a digital content management software company employing 50 FTEs. In 2021 it was recognized by the Great Place to Work® Institute of Canada for its positive employee culture.
  • Founded in 2012, Encircle Inc., located in Communitech’s Kitchener facility, is a leading provider of real-time tools for the property insurance industry. In 2022, it was recognized as one of Canada’s Top Growing Companies by the Globe and Mail’s Report on Business.
  • Established in 2017, Proto Research Inc. is the leader for inclusive, multilingual chatbots used by central banks, clinics and digital financial services to serve local customers. Proto is an alumni of Canada’s Next AI and Creative Destruction Lab accelerator programs.
  • Since 2015, the Government of Canada has invested more than $228 million in over 200 projects across the Waterloo region, creating over 10,000 jobs and maintaining over 30,000 jobs.
  • Since 2015, FedDev Ontario has invested over $745 million in over 300 technology projects across southern Ontario creating nearly 20,000 jobs and maintaining over 11,000 jobs. This includes $10 million for the Waterloo Accelerator Centre to launch the Venture Studio Innovation Program to help start-up innovation and technology companies across southwestern Ontario scale-up and bring products to market faster through access to mentorship and financial support.

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