iS5 to nearly double workforce thanks to FedDev Ontario investment
Mar. 6, 2017 - Canadians working for a Mississauga, Ontario-based manufacturer of telecommunications products will develop faster, more secure ethernet switches and other network equipment as a result of a $750,000 investment from the Government of Canada.
FedDev Ontario’s funding, made through the Investing in Business Innovation initiative, is expected to create up to 12 skilled jobs, nearly doubling iS5 Communications’ workforce.
Founded in 2012, iS5 provides mission-critical industrial ethernet products to industries, such as the utilities, defence and transportation sectors. The company produces network equipment that claims to be resistant to extreme temperatures, signal interference and cyber attacks. The resilience of these products, it says, allows information and data to be transmitted faster and more securely.
“The repayable contribution received from FedDev Ontario will help iS5 Communications Inc. to commercialize our products, including our latest innovation, ‘Raptor,’ and optimize our supply chain to improve our competitiveness in the global market,” said Clive Dias, iS5 president and CEO.
“When companies such as iS5 Communications innovate, they create well-paying, middle-class jobs. And those jobs spin off into more good jobs in every community where innovation happens. That’s how innovation leads to a better Canada,” continued Navdeep Bains, minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario.
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