Thursday, August 28, 2003
Government of Canada Supports the Development of New Technology to Improve Internet Service
WATERLOO, Ontario, August 28, 2003 — Andrew Telegdi, Member of Parliament for Kitchener–Waterloo, on behalf of Allan Rock, Minister of Industry, today announced a $9.5-million investment to help develop technology that will optimize the way information flows through Internet services providers. This technology will enable Internet service providers to improve operational efficiency and enhance their respective business models. This investment is part of a $30.3-million project being undertaken by Sandvine Incorporated
“The development of cutting-edge technology is at the very heart of innovation in Canada,” said Mr. Telegdi. “This project will improve connectedness and enhance Canadian strength in information and communications technologies. In addition, it will strengthen the Waterloo technology cluster and reinforce Canada’s position as a highly advanced technological country.”
Technology Partnerships Canada, a key instrument of Canada’s Innovation Strategy, makes strategic, conditionally repayable investments in great Canadian ideas, which are the currency for success in the 21st century. Technology Partnerships Canada’s critical investments in research and development promote innovation, commercialization, sustainable development and increased private sector investment, while enhancing the quality of life of all Canadians.