Three of Toronto's innovative technology companies will each receive $500,000 in funding from the province's Investment Accelerator fund, Toronto-area MPP Glen Murray announced last week. The fund is designed to support the launch of innovative companies in sectors considered important to the future of the province's economy, and is administered by
MaRS Discovery District.
Combined, the three companies are expected to create 65 jobs over the next three years:
Geminare is a cloud-based server backup company that will use the funding to market its network to partners worldwide.
MedCurrent is an online application company devoted to helping medical professionals improve workflow and decision making, especially in radiology, and will use the influx of cash to fuel growth.
Receptor Therapeutics, a biopharmaceutical company devoted to developing anti-cancer therapies, say the funding should lead to further development.
Writer: Edward Keenan
Source: Linda Quattrin, Director of Communications, MaRS