Federal government announces investment in SmartCone Technologies
SmartCone specializes in researching and developing Internet of Things (IoT) technologies to make traffic safety and site security more intelligent, cost-effective, adaptable, scalable and mobile.
Research & Development
Technology / IIoT
OTTAWA — On Nov. 29, François-Philippe Champagne, Minister of Innovation, Science and Industry, and Mona Fortier, President of the Treasury Board, announced an investment of $3.4 million in Ottawa-based SmartCone Technologies through Sustainable Development Technology Canada (SDTC). This is the first SDTC investment in SmartCone Technologies and part of a partnership that will help the company develop its “smart corridor” smart transit technology for low-greenhouse gas travel.
SmartCone specializes in researching and developing Internet of Things (IoT) technologies to make traffic safety and site security more intelligent, cost-effective, adaptable, scalable and mobile. The company’s technologies have been used in a wide range of applications aimed at saving lives, such as controlling bicycle lane traffic and monitoring high-traffic or high-risk areas such as school zones and non-signalled intersections.
SmartCone will use the SDTC investment to advance its IoT device to monitor and predict pedestrian, cyclist and vehicle pathways, in addition to vehicle speeds and potential collision vectors, while promoting active transit options such as biking and walking with higher safety to reduce greenhouse gas emissions from transportation.
The Government of Canada is committed to investing in clean technology that lays the foundation for a stronger, greener and more sustainable economy that creates opportunities for all Canadians. The investment aims to help grow the economy and support Canada’s ability to meet its 2030 climate commitments and reach net-zero greenhouse gas emissions by 2050.
“Now is the time for ambitious climate action. Cleantech innovation, entrepreneurship and commercialization are key to the vital shift to a healthier environment and a net-zero carbon economy. Today’s announcement will boost our leadership in climate and waste reduction technologies and help foster a truly Canadian success story.” said François-Philippe Champagne, Minister of Innovation, Science and Industry.