Federal Economic Development Agency for Southern Ontario

Federal Economic Development Agency for Southern Ontario

February 11, 2015 10:15 ET

Government of Canada Support Helps Markham Software Company Grow and Create Jobs

MARKHAM, ONTARIO--(Marketwired - Feb. 11, 2015) - Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

FedDev Ontario Minister Gary Goodyear, along with Thornhill MP Peter Kent, announced up to $625,000 for a Markham technology company.

HubHead Corp. provides asset-intensive businesses with world-class software solutions for visualizing, building, editing, organizing, governing, and sustaining high-quality asset and maintenance data.

The funding will help the company to develop and commercialize their corporate-grade software solutions, diversify their customer base and create jobs. The project will also assist HubHead Corp. to expand operations in Canada as well as in other global markets.

The investment is through FedDev Ontario's Investing in Business Innovation initiative, which is aimed at strengthening the innovation ecosystem in southern Ontario by supporting new entrepreneurs, early-stage businesses and angel investors.

Following the announcement, Minister Goodyear, MP Peter Kent and Oak Ridges-Markham MP Paul Calandra visited Novo Plastics to see the production of its innovative plastic muffler system supported through the Prosperity Initiative.

Minister Goodyear, MP Peter Kent and MP Paul Calandra also hosted a roundtable and met with local stakeholders in the business community to discuss opportunities for adopting and leveraging disruptive technologies in Markham and surrounding areas.

Quick Facts

  • Operating in Markham since 2013, HubHead Corp. manages the NRX AssetHub platform. The platform provides a software solution to help large companies drive excellence in maintenance and operations and is widely used across a variety of markets, including energy, utilities, rail, manufacturing, and mining.
  • An asset is a resource that has value, and varies depending on the company.
  • The project is expected to maintain 45 jobs, create four full-time jobs and an additional six by 2019.
  • FedDev Ontario's contribution will help the company leverage up to $1.25 million in angel investment.
  • FedDev Ontario funding is currently available to businesses, not-for-profit organizations, post-secondary institutions and angel organizations.

Quotes

"Our Government is making strategic investments in young companies on the rise. This will help put southern Ontario on the map as a leader in innovative technology."

- Gary Goodyear, Minister of State for FedDev Ontario

"Today's announcement is great news for HubHead Corp. as they are able to take the next steps in evolving their innovative asset management solutions. This project will mean jobs for our region, and wider market access for HubHead Corp."

- Peter Kent, Member of Parliament for Thornhill

"We are delighted to be receiving the Federal investment announced today. The funding will help our business create jobs, invest in research and development, and continue our growth."

- Nigel Stokes, Chairman and Chief Executive Officer, HubHead Corp.

Related Products

Speech: Investing in Business Innovation Initiative Funding Announcement for HubHead Corp.

Associated Links

Investing in Business Innovation initiative

HubHead Corp.

Prosperity Initiative

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