KITCHENER — Open Text Corp. announced Tuesday it will create a $100-million fund for enterprise-app developers on its platform in a bid to massively grow the technology ecosystem in this region and across the country.
Just prior to that groundbreaking news, the provincial and federal governments announced the establishment of the $217 million Northleaf Venture Catalyst Fund that will invest in venture-capital funds across Canada.
The two funds, announced at the Communitech Hub in the Tannery, are very different even though both will support the tech sector, which is worth an estimated $30 billion a year to the region's economy.
Image: David Bebee, Record staff - anny Yaroslavski,(left) of Lightbot Inc has Ontario Premier Kathleen Wynne try a game he designed as Minister of Research and Innovation. Reza Moridi watches during a tour of VeloCity at Communitech.
