You.i TV among three Ottawa tech companies to receive a combined $11 million FedDev Ontario funding
On July 14, it was announced You.i TV was among three leading tech firms from the Ottawa Region to receive a combined FedDev Ontario investment of nearly $11.2 million to support scale-up and growth into new markets.
You.i TV received the funding along with Ottawa tech park neighbours, Lytica and Solace Systems. This investment will allow the Ottawa region to be more resilient during COVID-19 by creating an estimated 140 skilled jobs, primarily in the fields of science, technology, engineering and math (STEM). Together, the projects will generate more than $28 million in total investment for the Ottawa Region and significantly increase regional supply chain spending.
“These three advanced technology projects build on Ottawa’s history of tech research and innovation, and ensure that we keep pushing the boundaries to grow our regional economy.” said Karen McCrimmon, Member of Parliament for Kanata–Carleton. “These companies are leaders in their industries and will not only strengthen our technology cluster, but will create over 140 quality skilled jobs across the Ottawa region.”
With You.i TV providing a video streaming platform that helps the world’s leading media brands distribute content across multiple digital media devices, the demand for video streaming is higher than ever during COVID-19. With FedDev’s repayable contribution, we’ll be adapting our products to expand market reach into new segments organically and through partnerships. We plan to double our revenues in the next three years by increasing market development further beyond North America and television media market segments, appealing to a truly global and diverse clientele.
Joined by MP Karen McCrimmon and President of Kanata North Business Association, Jamie Petten, You.i TV CEO Jason Flick discussed our ambitions with the generous funding outside of the You.i TV office.
Please excuse the noisy wind, but a few gusts and social distancing won’t stop us from celebrating this exciting next step for You.i TV. Watch the video below.