Federal government looks to prop up Toronto tech ecosystem with $14.6 million in loans for six companies
Six tech companies based in Toronto are receiving a cumulative $14.6 million in loans from the federal government.
The loans are being made out through FedDev Ontario, the regional development agency for Southern Ontario. An announcement from FedDev Ontario said the agency is looking to strengthen Toronto as a key technology sector through these loans, as well as create the right conditions for growth in the post-pandemic economy.
Over the last few years, Toronto’s tech ecosystem has gained international repute, and in 2019 and 2020 was ranked by the CBRE as one of the top technology markets in North America, and the fastest-growing.
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