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Investment Update
November 9, 2009

ONTARIO, CANADA BOOSTS OTTAWA'S TECHNOLOGY SECTOR

Ontario, Canada is supporting a not-for-profit, industry-led initiative that is expected to create 200 new high-tech jobs and strengthen Ottawa's technology community.

The province is providing up to $9.3 million to support a $44-million initiative called Coral Sea. Coral CEA will support Ontario companies that want to compete for part of the growing demand for Communication Enabled Applications (CEAs). CEAs are software applications that enable different technologies to communicate with each other, potentially creating smart systems that can analyze information, identify problems and take corrective action.

These new computer applications have the potential to save time and increase productivity in many industry sectors, including clean technology, healthcare, safety and security.

The investment supports Ontario's Innovation Agenda, the government's plan to make innovation a driving force of Ontario's economy.

"The global impact, and the number and types of products and services that can be produced through Communications Enabled Applications is limited solely by our imagination. The investment is about supporting our creative entrepreneurs and emerging technology businesses while putting Ontario in front of this multi-billion dollar global market opportunity," said Minister of Research and Innovation John Milloy.

"The potential for job creation from this growing technology market is tremendous. Coral CEA will help Ontario technology companies succeed by offering business development and commercialization services, support for Intellectual Property management and protection, and access to industry expertise," said Chair of the Board, Coral CEA Peter Carbone.

QUICK FACTS

The global market for CEAs is expected to be more than $2.75 billion by 2010.
Ottawa's technology sector alone is home to some 1,800 companies, employing approximately 80,000 people.