The government of Canada has invested $414,023 in Moncton, New Brunswick’s RtTech Software Inc., which was announced by Moncton-Riverview-Dieppe MP Ginette Petitpas-Taylor, on behalf of Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA).
ACOA is supporting RtTech Software through its Business Development Program to design and develop a digital application to collect raw sensor data that can then be used for analysis and presentation in the company’s existing RtDuet system, providing operational intelligence for industrial facilities.
Specializing in industrial analytics, RtTech’s solutions are deployed in over 1,900 machines running on 60 different sites in 14 countries, for medium-size manufacturing or bottling plants to megaprojects managed by Michelin, RioTinto and Potash Corp.
“RtTech’s partnership with ACOA has been invaluable as we develop leading Industrial Internet of Things (IIoT) technology,” said RtTech Software Founder and President Keith Flynn. “ACOA funding has enabled RtTech to recruit local technical resources to develop industrial apps and ultimately market these solutions within 17 countries across the globe.”
This article is brought to you by Slyce (TSXV:SLC)
Take a picture of a product and Slyce will tell you where you can buy it. Click here to learn more.
In 2015, RtTech Software Inc. also received an investment of $142,584 from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) to support the design and development of the company’s RtDUET Cloud software, a SaaS version of its flagship software aimed at small to mid-sized production plants.
“It’s great to see RtTech Software building a solid foundation in Moncton,” said Petitpas-Taylor. “Everything is available right here to create globally competitive digital companies. I am pleased that the Government of Canada can contribute to their development.”
Indeed, a recent KPMG report ranking 111 cities according to the competitiveness of their business climates placed Moncton second among the 17 Canadian cities on the list, having just been edged out by Fredericton.
Citing a healthy mix of digital services, R&D services, corporate services and manufacturing, New Brunswick’s cities fare pretty well on a global scale, as evidenced by IBM’s recent decision to expand its cybersecurity operations in the province.
Last August, RtTech was given SMART Program Preferred Vendor status by Canadian Manufacturers and Exporters (CME), making it pre-approved to work with companies that apply for funding offered through Ontario’s SMART program.