ANNOUNCEMENT 16 Mar 2016
Ontario created the ten-year, Can.$2.5-billion (US$1.97 billion) Jobs and Prosperity Fund in 2015 to provide assistance to businesses.
NUMBER OF INTERVENTIONS
On March 16, 2016 the Premier of Ontario announced an agreement with Sandvine, an Ontario-based provider of networking equipment, to support the development of emerging, cloud-based technologies in Waterloo. Under this deal the provincial government will invest up to Can.$15 million (US$11.8 million) through the Jobs and Prosperity Fund. The project will assist Sandvine in the area of Network Function Virtualization, supporting the firm’s Virtual Series products that run on cloud-based servers.