CANADA NEWS RELEASE: Government of Canada Accelerates Homegrown AI Innovation Across Greater Toronto Area

FedDev Ontario invests nearly $16.5 million for 13 businesses and organizations to bring new AI technologies to market and broaden AI adoption

May 25, 2026

Federal Economic Development Agency for Southern Ontario

As part of Toronto Tech Week—a showcase of the region’s vibrant innovation ecosystem—we are celebrating local innovators driving Canada’s global leadership in tech and AI adoption. The Government of Canada is committed to driving sustainable economic growth, creating high-quality jobs, and ensuring Canadians benefit from a strong, innovative digital economy.

Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), visited the MaRS Discovery District; North America’s largest urban innovation hub, located in Toronto’s Discovery District. While there, he announced a combined investment of nearly $16.5 million for 13  businesses and organizations across the Greater Toronto Area to facilitate AI adoption and bring new AI technologies to market faster: Cosm Medical, DMD Building Systems, Edgecom Energy, Future Fertility, Naryant, Private AI (o/a Limina), MarkiTech, MinuteBox, ProteinQure, Stratosphere Technology (o/a Fiscal.ai), Trax.GD Corp (o/a Trax), Vector Institute and VisFuture.

For information on the projects funded through the Regional Artificial Intelligence Initiative, refer to the backgrounder. These investments build on the energy of Toronto Tech Week, reinforcing Canada’s commitment to supporting innovators in tech.

The Government of Canada is committed to investing in made‑in‑Canada digital infrastructure and supporting businesses as they adopt and advance AI capabilities—helping to boost productivity, strengthen competitiveness, and drive economic growth.

• Established in 2001, MaRS Discovery District is a not-for-profit organization that offers business services, including hands-on advice and mentorship, assistance in making connections to capital, talent development, and augmenting customer growth in Toronto and Canada-wide.
• Canada’s regional development agencies (RDAs) are delivering the $200-million Regional Artificial Intelligence Initiative (RAII). This funding is helping to bring new AI technologies to market and drive AI adoption by SMEs and sectors across the country.  In southern Ontario, FedDev Ontario is delivering nearly $60 million.
• Since 2015, the Government of Canada, through FedDev Ontario, has invested over $450 million in projects related to the artificial intelligence sector.

Additional Resources

• • • FedDev Ontario
    • MaRS Discovery District
    • Cosm Medical
    • DMD Building Systems
    • Edgecom Energy
    • Future Fertility
    • Naryant
    • Private AI (o/a Limina)
    • MarkiTech
    • MinuteBox
    • ProteinQure
    • Stratosphere Technology (o/a Fiscal.ai)
    • Trax.GD Corp (o/a Trax)
    • Vector Institute
    • VisFuture

Contacts

Peter Wall     
Director of Communications
Office of the Minister of Artificial Intelligence, Digital Innovation and the Federal Economic Development Agency for Southern Ontario
Peter.Wall@ised-isde.gc.ca

FedDev Ontario Media Relations
media@feddevontario.gc.ca