WATERLOO REGION, ON, Nov. 13, 2013 /CNW/ - The Honourable Greg Rickford,
Minister of State for Science and Technology, announced today that the
Canadian Digital Media Network will receive a funding extension of
$8.75 million over 5 years as the result of a competition held by the
Centres of Excellence for Commercialization and Research (CECR)
"The Government of Canada invests in federal R&D to support jobs, growth
and the long-term prosperity of all our communities right across
Canada, including right here in the Waterloo Region," said Minister of State Rickford. "The Centres of Excellence for Commercialization and Research program
helps bridge the gap between ideas and the marketplace, providing
funding for product and business development early in the innovation
process, when it can often be more difficult to attract the private
investment needed to secure the development of products to that next
stage of growth."
The Canadian Digital Media Network (CDMN) was founded in 2009 to connect
entrepreneurs, companies, and research institutes to accelerate the
delivery of digital solutions to the marketplace. Since then, the CDMN
has brought together 25 regional hubs, developing an online platform
designed to share services across the country. It has also launched a
number of programs for ICT and mobile companies, including the
successful international soft landing program, which provides Canadian
companies with access to foreign markets through a host partner.
"This funding will allow us to continue to strengthen the network across
Canada, while at the same time expanding our international strategy"
said Kevin Tuer, Managing Director of the CDMN. "To date, 47 companies have had the opportunity to enter 17 foreign
markets and identify more than $30 million in new business and
investment opportunities - representing a return on investment of
greater than 30 to 1."
The CDMN was founded by Communitech to provide commercialization support
to Canadian technology companies. "We set out to build a world-class
commercialization centre at the Communitech Hub, and to connect that to
a world-class network through the Canadian Digital Media Network,"
explained Iain Klugman, President and CEO of Communitech. "And the economic impact of those investments has proven to be really
powerful for Canada. With this funding we will be able to provide
startup assistance to even more Canadian firms as they scale, creating
the next generation of Canadian tech companies."
About The Canadian Digital Media Network
The Canadian Digital Media Network (CDMN) www.cdmn.ca, a federal Centre of Excellence in Commercialization and Research
(CECR), is dedicated to establishing Canada as a world leader in
digital media (ICT + mobile) by creating and enabling connections and
collaboration between entrepreneurs, companies, research institutes,
government and intermediary organizations across the country. CDMN
helps bring more digital media solutions to market to create more
companies, jobs and wealth in Canada. Follow @CDMN on Twitter, join the Canadian Digital Media Network Group on LinkedIn and like the Canadian Digital Media Network Page on Facebook.
SOURCE: The Canadian Digital Media Network
For further information:
For media enquiries, please contact:
Director of Media Relations