The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, announced an investment in an innovative Barrie, Ontario company that will allow businesses around the world to better develop and efficiently monitor their digital content.
gShift Labs (gShift) is a technology company that has software to help businesses create, publish, track and report on digital content. It will receive a repayable contribution of up to $440,000 to develop its innovative software and bring it to market. The funding will allow the company to hire software developers and also increase its sales activities with a focus on further expanding into global markets.
FedDev Ontario is providing the contribution through the Investing in Business Innovation initiative. This initiative is aimed at strengthening the innovation ecosystem in southern Ontario by supporting new entrepreneurs, early-stage businesses and angel investors.
· gShift expects to create 21 new jobs and maintain 19 jobs during the project.
· With this support, the company is leveraging up to $1.2 million from its existing investors including GrowthWorks Capital, Brightspark Ventures and the company's co-founders.
· gShift previously received funding of $500,000 under FedDev Ontario's Investing in Business Innovation initiative in 2011 to further develop its proprietary software, the Web Presence Optimizer.
"The digital media industry is defined by innovation and creativity. Companies like gShift are rethinking how we use technology to manage and improve our lives and our businesses. Through support from FedDev Ontario, the Government of Canada is helping to support small- and medium-sized businesses increase sales, expand into global markets, and fulfill their potential."
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
"With this financial support from FedDev Ontario, gShift is able to continue to engineer its world-class digital marketing platform and further execute on its go-to marketing strategy. The Barrie-based team will expand to include developers, sales and marketing specialists and customer service representatives to meet customer demand around the globe."