Government of Canada Supports Innovative Technologies in Ottawa

OTTAWA, ONTARIO--(Marketwired - Jan. 22, 2015) - Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

Two Ottawa companies will accelerate the development of their software technologies and access new markets, thanks to investments of up to $1.25 million announced today by the Honourable Gordon O'Connor, Member of Parliament for Carleton-Mississippi Mills.

FedDev Ontario's support of up to $750,000 for AppZero Software Corporation will allow further development and commercialization of its automated computer application migration software. With the support for Windows Server 2003 reaching its end in July 2015, this investment will help AppZero meet the increased demand its partners are generating. AppZero partners include AWS, Dell Services, IBM, HP and Microsoft.

An investment of up to $500,000 will allow Glitchsoft Corporation to evolve its game development technology, the Helios Platform™, into the industry's first all-in-one mobile marketing system. The result will enable Glitchsoft to work with the largest entertainment content companies in the world to produce high-quality mobile games that engage fans, drive multiple revenue streams and provide detailed business analytics.

These repayable contributions, made possible through the Investing in Business Innovation initiative, are aimed at strengthening the innovation ecosystem in southern Ontario by supporting new entrepreneurs, early-stage businesses and angel investors. These companies are leveraging a total of $2.5 million in private investment.

Helping businesses grow and compete globally is part of FedDev Ontario's mandate to develop a strong and diversified southern Ontario economy.

Quick Facts

• AppZero's technology has the potential to be applied to 18.7 million Windows 2003 servers requiring migration to newer versions of Windows software.
• Glitchsoft has been able to coordinate the development of mobile game projects for clients that include brands such as Mattel, Marvel, and Disney.
• Investing in Business Innovation funding is available for early-stage businesses with less than 50 employees; southern Ontario-based angel investor networks; and not-for-profit organizations that provide skills development and seed financing to new entrepreneurs.
• Through the first phase of Investing in Business Innovation, launched in October 2010, FedDev Ontario invested nearly $57 million in repayable contributions to 86 companies, leveraging almost three times more in private sector investments. FedDev Ontario also invested more than $3 million in 13 angel networks and associations.

Quotes

"Ottawa is a dynamic hub for technology companies like Glitchsoft and AppZero, and enabling their success is precisely why FedDev Ontario is making these investments. Our Government remains committed to creating the economic environment where innovative companies can be successful."

- The Honourable Gordon O'Connor, Member of Parliament for Carleton-Mississippi Mills

"This investment from FedDev Ontario will allow us to grow our business faster than we otherwise could, enabling us to keep up with demand in this busy run-up to the end of support for Windows Server 2003."

- Greg O'Connor, CEO, AppZero

"We would like to thank the Canadian government for its support of not only our company, but for the industry as a whole. The funding will enable us to execute on a unique go-forward strategy that uses games on mobile devices in a B2B business model to drive relationships between large entertainment content companies and consumers."

- Andrew Fisher, CEO, Glitchsoft

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Associated Links

Investing in Business Innovation initiative

AppZero Corporation

Glitchsoft Corporation

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Backgrounder

Government of Canada Supports Software Development Technology in Ottawa

FedDev Ontario is investing a total of up to $1.25 million in two Ottawa software development companies.

AppZero Software Corporation

Contribution: up to $750,000

AppZero Software Corporation offers a fast and flexible way to move server applications to and across any cloud or datacenter. Its Zapp software separates a computer application from the original operating system and machine, then copies it and reinstalls the application on a new machine or cloud server. This technology significantly reduces migration times and labour costs.

FedDev Ontario funding for AppZero will support the development of new software features and market integration strategies. These developments will enable the company to enhance its sotfware offering and handle anticipated increases in technology development and demand.

AppZero is leveraging up to $1.5 million from an accredited venture capital firm, Covington Capital Corporation, and two Angel One investors, Woodford Farm Trust and Seaver Kent Family Investments.

Glitchsoft Corporation

Contribution: up to $500,000

Glitchsoft Corporation designs, builds and publishes high-quality games for mobile smartphones and tablet devices. With its Helios game development technology, Glitchsoft offers the world's largest entertainment content companies a unique B2B (business-to-business) solution that strengthens relationships between a brand and people. It will also offer a gamer- and family-friendly model through which companies can generate profit.

FedDev Ontario funding for Glitchsoft will be used to evolve the development of Helios, increasing its capability and capacity. This will expand the functionality of Glitchsoft content across all mobile devices and will open up new revenue streams for the company. Helios will also provide Glitchsoft with detailed business analytics that bring further value to customers and partners.

Glitchsoft is leveraging up to $1 million from Wesley Clover International Corporation and a group of angel investors who are members of the Capital Angel Network.

Investing in Business Innovation Initiative

The Investing in Business Innovation initiative aims to strengthen the innovation ecosystem in southern Ontario. It helps new entrepreneurs to become investment-ready through seed financing and skills development. It helps early-stage businesses with a minimum viable product or service to further develop and bring it to market. It helps angel organizations to expand their members and services, which increases private sector investment and mentoring opportunities for businesses. All of these activities will help build a portfolio of early-stage businesses with the ability to become world-leading innovators.

Funding is available for:

• Not-for-profit organizations that provide skills development and seed financing to new entrepreneurs;
• Innovative, early-stage businesses with less than 50 employees to help leverage angel and capital investments; and
• Southern Ontario-based angel investor networks.

Applications are being accepted and assessed on an ongoing basis. Eligibility requirements and further details are available on the FedDev Ontario website.