MP Costas Menegakis announces FedDev Ontario support for Richmond Hill firm CrowdCare Corporation

MP Costas Menegakis announces FedDev Ontario support for Richmond Hill firm CrowdCare Corporation
(Richmond Hill, Ontario) – CrowdCare Corporation will refine its Wysdom software platform and sell it to new markets, thanks to a contribution of up to $750,000 from the Harper Government announced today by FedDev Ontario Minister of State Gary Goodyear and Richmond Hill MP Costas Menegakis.

Founded in February 2012, CrowdCare Corporation has developed Wysdom, a software platform that helps mobile carriers diagnose and provide solutions to a customer’s technical problems through an application on their mobile device. The platform can be easily configured and adapted to meet the specific needs of each mobile carrier and their existing systems. The project will create up to 21 jobs and maintain 13 existing, during the project.

“I am proud that CrowdCare, a Richmond Hill company, has created a product that helps mobile carriers reduce costs associated with providing technical support, while enabling consumers to more quickly and easily resolve technical issues,” said MP Menegakis.

Federal funding will help the company develop additional upgrades to the Wysdom platform, complete intellectual property protection, as well as hire and train sales and marketing staff to promote the product globally to mobile carriers. The project is leveraging up to $1.5 million from a syndicate of investors from Mantella Venture Partners and Extreme Venture Partners, as well as investors from Extreme Angels. 21 new jobs  will be created and another 13 maintained during the project.

“Our Government recognizes that we need to support our early-stage companies as they develop their innovative products and begin selling to international markets,” said Minister Goodyear. “This is how we can help southern Ontario companies compete and prosper which in turn strengthens and diversifies the local economy.”

The Government of Canada’s repayable contribution, through FedDev Ontario’s Investing in Business Innovation initiative, is aimed at strengthening the innovation ecosystem in southern Ontario by supporting new entrepreneurs, early-stage businesses and angel investors.

“You just don’t find this kind of government support anywhere else in the world,” said Ian Collins, Co-Founder and CEO of CrowdCare Corporation. “It will help CrowdCare to accelerate its international sales, create jobs and expand IP in cognitive computing.”

Established in 2009 to promote economic development, economic diversification, job creation and sustainable communities in Southern Ontario, FedDev Ontario has invested nearly $40 million in more than 90 projects in York Region. Applications for FedDev funding will be received on an ongoing basis until funding is fully committed. The initiative guidelines and application forms are available at www.FedDevOntario.gc.ca<http://www.feddevontario.gc.ca/>.

Costas Menegakis is the Member of Parliament for Richmond Hill and Parliamentary Secretary to the Minister of Citizenship and Immigration. He can be contacted by phone at 905-918-1880 or through his website at www.costasmenegakis.ca<http://www.costasmenegakis.ca>.