Waterloo kicked off the new year and a new decade right with big business and investment news – from medical incubators opening their doors to major new funding for a local Internet-of-Things company. If January is any indication, 2020 is going to be a big year for Waterloo.
Here are six Waterloo business and investment stories from January:
1. Miovision raises a whopping $120 million CAD in funding
Waterloo-based start-up Miovision, a company that creates intelligent solutions for traffic data collection and advanced traffic signals operations, has raised $120 million in a new funding round led by Telus Ventures. Read BetaKit’s article to learn more about how the funding will support the company’s aggressive growth plans.
2. The exciting revival of a Waterloo connected car company
In receivership less than 18 months ago, connected car company IMS is now in the midst of a revival following acquisition by United Kingdom-based Trak Global Group. Seen as an ideal foothold into the North American market, the long-time automotive telematics company has now launched its own usage-based car insurance platform combining its technology with Trak Global’s existing insurance service. Read more in The Waterloo Region Record.
3. Interac partnered with Communitech to bring its innovation lab to life
To close off the month of January, BetaKit wrote an article that dives into reasons Interac chose to partner with Communitech to start its brand new innovation lab. Do you want to learn more about how these corporate innovation hubs work? Check out our post about how an innovation outpost can help supercharge corporate innovation.
4. Canada’s first industry led medtech hub officially opens its doors
Waterloo is now officially home to Canada’s first industry-led medtech hub. The new hub, the Medical Innovation XChange (MIX) officially opened its doors in January. Read BetaKit’s coverage following the grand opening or check out our story from when the idea first made waves back in 2019.
5. How a Waterloo-based innovation lab solved a BIG Air Force problem
Every time a Royal Canadian Air Force (RCAF) aircraft takes off, it brings with it reams of paper known as the “football” – all of the administrative information crews need for their mission. Not only is this incredibly wasteful, but the information was often out-of-date before the mission even began. The RCAF’s Waterloo-based innovation outpost – Flight Desk – took the problem and developed an elegant, tech-based solution. Read Communitech’s coverage of the story.
6. Waterloo EDC releases a guide to growing your business in a new country
Are you thinking about taking your business international? Not sure where to start? That’s where we come in. Waterloo EDC has created a free, downloadable, extremely helpful guide to foreign business expansion and the 12 questions every business leader needs to ask. Read the launch blog here.