Invest Durham Enews - July 2022 |
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Welcome CloudTax and Excelencia!
At the recent Collision Conference event, two new investments were announced.
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CloudTax, Canada’s newest financial technology (FinTech) company with solutions in automating personal tax return filings, has selected 1855 Accelerator in Durham Region as the location for its newest office and for acceleration advisory services.
1855 Accelerator and Invest Durham joined forces to bring this investment to the region. “1855 Accelerator and Invest Durham offer the most compelling value proposition for tech startups in the Greater Toronto Area, including an extensive, knowledgeable ecosystem, world-class talent pool and a welcoming environment to build a FinTech software company. These partners demonstrated trust and sincerity from day one, and by reputation, we know they will help us become one of Canada’s next FinTech unicorns!” said Nimalan Balachandran, CEO and Founder of CloudTax Inc.
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Excelencia Consulting, a global leader in technology and information technology services, has selected the 1855 Accelerator in Durham Region as the location for its new Canadian office. As its first Canadian location, the company’s new operations in Whitby will help to further service its growing North American client base. Headquartered in India, Excelencia Consulting worked with Toronto Global and Invest Durham, in collaboration with 1855 Accelerator, to bring its investment to Durham Region.
“The 1855 Accelerator, Toronto Global and Invest Durham provided a very welcoming approach to our long-term plans and expansion into Canada. The ecosystem introductions are second to none, and this has been a sincere and committed experience,” said Sharath Balakrishnan, Managing Director, Excelencia Consulting North America.
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Call for solutions – Durham Regional Technology Development Site (DRTDS)
Are you an innovator, startup or small-to-medium enterprise (SME) with technologies that can make our roads safer for drivers, pedestrians and cyclists? The Region of Durham, one of the partners of the DRTDS, is launching an exciting challenge for innovators and businesses with technology-based products that facilitate “safe and accessible transportation.” Successful challenge participants will have the opportunity to pilot solutions at high-risk regional intersections.
Successful challenge participants will have the opportunity to:
- Pilot their solution utilizing regional infrastructure.
- Research and co-develop with municipal staff.
- Obtain support for applications for additional funding.
- Access technical expertise and resources through Ontario Tech University.
- Access business advisory services from Spark Centre.
About the Durham Regional Technology Development Sites (RTDS):
Through the investment of more than $85 million from the Ontario Centre for Innovation, six RTDS were formed across Ontario to support startups and SMEs in the development, testing, prototyping, validation and commercialization of electric and connected vehicle technology and smart mobility solutions.
Durham Region is one of these six RTDS. Established in 2017, DRTDS is a collective of post-secondary institutions, regional innovation centres, incubators and accelerators, and regional partners in Durham Region that collaborate to foster the research, development, production and application of electric and smart mobility solutions to be adopted by Canadian and global communities.
The deadline to apply is August 15, 2022, at 9 a.m. EST.
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Funding opportunity!
Invest Durham is proud to work with Northumberland Community Futures Development Corporation to promote thriveFORWARD, an initiative accelerating sustainable industrial investment in innovation capitals across southern Ontario.
ThriveFORWARD will assist participants in future-proofing their business, building resiliency and preparing for long-term growth by transitioning to a green economy. Eligible projects include the commercialization of innovation or the adoption of an innovation by startups and SMEs that are investing in sustainable and inclusive growth.
ThriveFORWARD at a glance:
- $25,000 for startups.
- $100,000 for SMEs.
- Key themes: going green, digital transformation.
- Critical sectors: food, medical supplies, biomanufacturing.
- Activities: Scale up or market expansion, increased sales performance, supply chain adaptation, market diversification.
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Government of Canada invests in the expansion of the Port of Oshawa
The Minister of Transport, the Honourable Omar Alghabra, announced close to $14 million for an export expansion project at the Port of Oshawa. As the recipient, the Hamilton-Oshawa Port Authority is contributing $16 million, representing a total investment of almost $30 million. With this investment, new infrastructure will be built to modernize operations in the port’s main area and position it for growth. Visit the Government of Canada website to read the full announcement.
New Ontario backlot rises from Amazon’s ‘Reacher’ set
Ontario has long been Hollywood's go-to for Anytown, USA, for film and television production. But fans of Amazon's ‘Reacher’ might be surprised to learn that the crime thriller’s first season, which is set in a fictional rural Georgia town called Margrave, was mostly shot in an undeveloped corn field in Pickering, Ontario. Learn more in this Hollywood Reporter article.
Durham’s innovation community was at the Collision Conference
Recently, Collision Conference returned to Toronto and Invest Durham was a partner. Promoted as one of the fastest growing technology (tech) conferences in North America with more than 35,000 attendees meeting, learning, investing and doing business, Collision provides a stellar opportunity to connect with innovators from Canada and around the world. The Invest Durham team worked with Durham Region’s innovation community to establish a significant footprint and high brand visibility for Durham Region at the conference. Visit the Invest Durham news page to learn more.
How Durham Region’s innovation community is closing the commercialization gap
Durham Region is leading the way in innovation by creating an ecosystem that enables business startups and founders to scale and grow their companies, driving growth, productivity and develop a workforce for the technology sector. Visit the Innovating Canada website to learn more.
OPG and X-energy pursuing clean energy opportunities
Ontario Power Generation (OPG) and X-energy have signed a framework agreement to pursue opportunities to deploy Xe-100 small modular reactors for industrial applications in Canada.
Under the agreement, OPG and X-energy will pursue opportunities to deploy Xe-100 advanced reactors in Ontario at industrial sites and identify further potential end users and sites throughout Canada.
12 Places to grab delicious ice cream in Durham Region’s downtowns
Summer is officially underway and we’ve curated this tasty to-do list just for you, indicating which shops have dairy-free or vegan options, so everyone can enjoy some deliciousness this season.
Plan a rural overnight sojourn (temporary stay) in Durham Region
There’s something very special about travelling and experiencing new things, but it’s even more dear when we don’t have to venture far from home. Whether you’re looking to spend time with a loved one, make memories with friends or take a solo sojourn, take the path less travelled and explore the beautiful back roads, quaint downtowns and farm fresh food of Durham Region! Visit the Durham Tourism blog to learn more.
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Durham Economic Task Force COVID Response
The Durham Economic Task Force is here to help Durham Region businesses navigate the COVID-19 crisis. For information on funding opportunities and government and business support, visit Invest Durham COVID Response.
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Contact Us
Toll-free: 1-800-706-9857
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If this information is required in an accessible format, please contact the Planning and Economic Development Department at 905-668-7711 ext. 2609 (toll-free at 1-800-706-9857).
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