The federal government has announced that it will provide nearly $1 million in support to Toronto area start-up
ThoughtWire. The funding will allow ThoughtWire to leverage another $1.95 million in private investments, and enable the company to complete development on a new software platform--a business tool that aims to substantially increase productivity.
The Unified Experience Platform has been designed to solve one of the most basic and vexing problems people often encounter while working: not all the applications, programs, and pieces of software that they use can talk to each other.
Transferring data from one to another, and allowing the information in one program to sync up with data from another, can seem like a mundane task, but it's one of those persistent annoyances that can eat up a lot of valuable time. ThoughtWire's goal, it explains in a primer on the platform, is to "liberate your data."
The government support comes from FedDev Ontario via a program called Investing in Business Innovation, which aims to "accelerate the development of new products…and help bring them to market." According to Gary Goodyear, the minister responsible for that program, the funding will lead to the creation of "up to 29" new local jobs
Writer: Hamutal Dotan
Source: Office of Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario