VueReal Inc, a technology manufacturing company, has secured investment from Invest Ontario and Sustainable Development Technology Canada (SDTC) to expand its commercial capacity for micro-LED displays. VueReal plans to create 75 new jobs in the Kitchener-Waterloo area over the next three years. The micro-LED display market is forecast to grow to $11.5bn by 2026, and VueReal aims to become the North American leader in micro-LED production. Ontario’s technology sector comprises over 408,000 skilled IT professionals and more than 65,000 STEM graduates each year, with VueReal contributing over $48bn annually to the sector’s GDP. In addition, VueReal has collaborated with SDTC and Invest Ontario on a project worth approximately $40m to scale its technologies into full-scale production. Major tech companies, such as Amazon, Blackberry, Cisco, Ericsson, Google, LG, OpenText, and Shopify, have also established R&D operations in Ontario, making it the second-largest IT cluster in North America after California’s Silicon Valley.
VueReal Secures Investment to Expand Technology Manufacturing Capabilities in Ontario
VueReal Inc, a Canadian technology manufacturing company based in Waterloo, Ontario, is set to create 75 new jobs over the next three years in the Kitchener-Waterloo area. Invest Ontario and Sustainable Development Technology Canada (SDTC) are providing funding assistance to VueReal, aimed at enhancing its technology manufacturing capabilities in the province.
The investment is expected to boost VueReal’s commercial capacity for micro-LED displays, which are used in various electronic products, including computers, phones, smartwatches, televisions, monitors in the aerospace, automotive, and medical technology industries. The micro-LED display market is forecasted to grow to US$11.5bn by 2026, and VueReal aims to become the North American leader in micro-LED production.
Invest Ontario will contribute $2m grant from the Invest Ontario Fund, subject to executing a definitive agreement, to boost VueReal’s innovation and production in Canada’s largest tech hub. The federal government will also provide $8.5m through its SDTC fund. The collaboration between Invest Ontario and SDTC to fund VueReal’s micro-LED technology project marks a significant milestone in the evolution of both organizations.
“Canada’s great universities, including the University of Waterloo, combined with government research funds, make it a prime location for developing cutting-edge and sustainable technologies,” says VueReal’s CEO & founder, Reza Chaji. “VueReal has leveraged this ecosystem to develop its microSolid printing technologies, which enable the creation of smart surfaces for next-generation displays and sensor applications.”
Ontario’s technology sector comprises over 408,000 skilled IT professionals and more than 65,000 STEM graduates each year, and VueReal is one of almost 25,000 tech businesses in the province, contributing over $48bn annually to the technology sector’s GDP.
Invest Ontario’s CEO, Trevor Dauphinee, states that their focus is to strengthen the manufacturing supply chain and accelerate financial support to companies like VueReal that can drive rapid growth and compete in a hyper-competitive market.
VueReal to Expand Technology Production with SDTC and Invest Ontario Funding
VueReal Inc has collaborated with Sustainable Development Technology Canada (SDTC) and Invest Ontario on a project worth around $40m, aimed at scaling the company’s innovative technologies into full-scale production in the Waterloo Region and Ontario. VueReal’s micro-LED display technologies have a significant role in generating employment opportunities in various industries, including consumer electronics, healthcare, medical, security, automotive, and aerospace.
Ontario is the second-largest IT cluster in North America after California’s Silicon Valley, with major tech companies, such as Amazon, Blackberry, Cisco, Ericsson, Google, LG, OpenText, and Shopify, establishing R&D operations in the region.
Sources: VueReal announces $8.5m in SDTC funding, VueReal raises $10.5m on initial closing of Series A funding for micro-LED display technologies, microLED, www.vuereal.com
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