The Canadian government through Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), has announced a government investment that allows Toronto-based startup ThoughtWire access to close to $2 million financing from southern Ontario angel investors to accelerate the development of its innovative software platform.
Under FedDev Ontario's Investing in Business Innovation Initiative, ThoughtWire will receive up to $955,000 for the development and commercialization of its Unified Experience Platform, a product focused on transforming enterprise workforce productivity.
The FedDev investment will leverage $1.95 million from a group of accredited angel investors who are members of the Angel One Network and Golden Triangle Angel Network.
Investing in Business Innovation was designed to boost private sector investment in start-up businesses, focusing on portfolios of early-state businesses that have the highest potential of growth and long term benefit of the southern Ontario.
The investor community includes accredited angel investors registered with the Network of Angel Organizations - Ontario and venture capital providers who are member of Canada's Venture Capital & Private Equity Association.
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