Rogers commits $4 million to Wavefront to fuel growth of entrepreneurs across Canada
Nov 21, 2014
Emerging businesses focused on Machine-to-Machine (M2M) and wireless technology will benefit from improved access to resources, training and mentorship
VANCOUVER, Nov. 21, 2014 /CNW/ - Rogers Communications today announced a funding commitment of approximately $4 million to Wavefront, Canada's Centre of Excellence for Commercialization and Research, to accelerate the growth of machine-to-machine (M2M), the Internet of Things (IoT) and wireless businesses in Canada. Over the next five years, Rogers will offer financial resources, technology tools, training and mentorship programs to thousands of technology businesses and entrepreneurs that walk through Wavefront's doors.
"At Rogers, supporting homegrown technology businesses is in our DNA, and we see a distinct growth opportunity for Canadian businesses in the M2M, Internet of Things and wireless application space," said Gord Nelson, VP Sales, BC, Alberta & Prairies, Rogers. "Our commitment to Wavefront will give businesses in Vancouver and across the country access to programs and industry experts to help them drive growth in their business and allow them to better compete on a national and global scale."
The number of connected devices in Canada is expected to grow by 30 per cent each year over the next four years, reaching 114 million connections by 2018 and generating total revenues of $21.1 billion. Increasing demand for M2M solutions has businesses and developers well poised to benefit from new growth opportunities in the rapidly growing industry of the Internet of Things. As part of its commitment to Wavefront, Rogers will sponsor the development of new programs including the Wavefront National Accelerator Program and Commercialization Support Program, as well as hands-on mentorship to M2M businesses looking to commercialize their business and enter new markets.
"The success of our award-winning acceleration program would not be possible without the support of industry leaders like Rogers," said James Maynard, Wavefront President and CEO. "Beyond the financial investment, the experience Rogers brings to the table will help businesses better compete with global counterparts, drive new job creation and invigorate the technology community across the country."
Today's announcement builds on Rogers' investment in British Columbia. In addition to its commitment to Vancouver-based Wavefront, Rogers is investing over $450 million in British Columbia over the next three years to expand its wireless network in over 70 communities, and enhance existing LTE connections.
"This investment demonstrates Rogers' support for innovation and entrepreneurship within British Columbia's expanding technology sector," said Minister of Technology, Innovation and Citizens' Services, Andrew Wilkinson. "Wavefront has done an excellent job of incubating and accelerating technology businesses here in BC, and the continued partnership between Wavefront and Rogers will help fuel the growth of machine-to-machine, Internet of Things, and wireless technology here in our province."
The commitment from Rogers to Wavefront will be matched by up to 50 per cent by the Canadian Accelerator and Incubator Program (CAIP), a five-year program established by the Government of Canada to support growth and development of entrepreneurs and startups. The funding from both Rogers and CAIP will go towards expanding and extending Wavefront programs and initiatives to help emerging start-ups commercialize their business. Over the past six years, Wavefront's incubation and acceleration of technology businesses has resulted in thousands of new jobs in Canada, and hundreds of millions of dollars to Canada's GDP.
For more information on Wavefront, please visit: www.wavefrontac.com
About Rogers Communications
Rogers Communications is a diversified Canadian communications and media company. We are Canada's largest provider of wireless voice and data communications services and one of Canada's leading providers of cable television, high speed Internet and telephony services. Through Rogers Media we are engaged in radio and television broadcasting, televised shopping, magazines and trade publications, sports entertainment, and digital media. We are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For further information about the Rogers group of companies, please visit rogers.com.
Wavefront is Canada's Centre of Excellence for Wireless Commercialization and Research (CECR), accelerating the growth and success of wireless companies in Canada by connecting them with critical resources, partners and opportunities, to drive economic and social benefits for Canada. Wavefront products and services are available to wireless and non-wireless companies looking to leverage mobile technology. They include a comprehensive suite of accelerated commercialization and mentorship programs, international market linkages, state of the art wireless product development and testing infrastructure, and wireless training programs and events. For more information and to join the Wavefront Community visit www.wavefrontac.com.
1 IDC Canada, preliminary estimates, May 2014
SOURCE Rogers Communications Inc.
For further information: Michelle Lewis, Rogers Communications, 416-935-8339, Michelle.firstname.lastname@example.org