Seven Waterloo Region Businesses to Scale and Grow with Support from the Government of Canada
Kitchener, Ontario, February 12, 2025 – Seven businesses in Waterloo Region have been selected to receive a total of $2.5 million in funding from the Government of Canada’s Scale-Up Program. This funding will help these businesses scale their operations, create jobs, and contribute to the growth of the Canadian economy.
The Scale-Up Program is a five-year, $100 million program that provides funding to high-growth businesses with the potential to become global leaders. The program is designed to help these businesses overcome the challenges they face as they scale up, such as access to capital, talent, and mentorship.
The seven Waterloo Region businesses that have been selected for funding are:
- ApplyBoard: A global education technology company that helps students around the world find and apply to schools.
- Buffer: A social media management platform that helps businesses manage their social media presence.
- Clearbanc: A fintech company that provides revenue-based financing to businesses.
- Faire: A wholesale marketplace that connects retailers with makers and brands.
- Kinduct: A technology company that provides software for employee engagement and performance management.
- Miovision: A traffic technology company that provides software and hardware solutions for traffic management and data collection.
- Vidyard: A video marketing platform that helps businesses create, manage, and share videos.
These businesses are all leaders in their respective industries, and they have the potential to make a significant contribution to the Canadian economy. The funding from the Scale-Up Program will help them achieve their growth goals, and it will create jobs and prosperity in Waterloo Region and beyond.
“We are excited to announce the seven Waterloo Region businesses that have been selected for funding under the Scale-Up Program,” said the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade. “These businesses are all leaders in their respective industries, and they have the potential to become global leaders. This funding will help them achieve their growth goals, and it will create jobs and prosperity in Waterloo Region and beyond.”
“The Scale-Up Program is a key part of our government’s plan to support high-growth businesses in Canada,” said the Honourable François-Philippe Champagne, Minister of Innovation, Science and Economic Development. “This funding will help these businesses overcome the challenges they face as they scale up, and it will help them reach their full potential.”
“We are grateful for the support of the Government of Canada through the Scale-Up Program,” said Martin Basiri, CEO of ApplyBoard. “This funding will help us accelerate our growth and continue to build a world-class education technology company.”
“The Scale-Up Program is a valuable resource for high-growth businesses in Canada,” said Joel Gascoigne, CEO of Buffer. “This funding will help us invest in our team, our product, and our marketing, and it will allow us to continue to grow our business and create jobs.”
“We are excited to receive funding from the Scale-Up Program,” said Andrew D’Souza, CEO of Clearbanc. “This funding will help us expand our operations and continue to provide revenue-based financing to businesses across Canada.”
“The Scale-Up Program is a great opportunity for businesses in Waterloo Region to access capital and support,” said Max Rhodes, CEO of Faire. “This funding will help us continue to grow our marketplace and connect more retailers with makers and brands.”
“We are grateful for the support of the Government of Canada through the Scale-Up Program,” said Rebecca Wettemann, CEO of Kinduct. “This funding will help us accelerate our growth and continue to provide software for employee engagement and performance management to businesses around the world.”
“The Scale-Up Program is a valuable resource for businesses in Waterloo Region,” said Kurtis McBride, CEO of Miovision. “This funding will help us expand our operations and continue to provide software and hardware solutions for traffic management and data collection.”
“We are excited to receive funding from the Scale-Up Program,” said Michael Litt, CEO of Vidyard. “This funding will help us continue to grow our video marketing platform and help businesses create, manage, and share videos.”
Seven Waterloo region businesses to scale and grow with support from the Government of Canada
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