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The Lazaridis Institute receives $2.5M in federal funding

Last Updated Apr 27, 2017 at 11:39 am EST

Federal government announce $2.5M in funding for the Lazaridis Institute. April 27,2017. Adam Haga/570 News

A big push for local tech companies from the federal government.

Thursday morning at the Lazaridis School of Business & Economics at Wilfrid Laurier University in Waterloo, MP Bardish Chagger announced up to $2.5 million to Wilfrid Laurier University to support a national scale-up data platform.

The platform will help track growth of Canadian companies and provide insight into why companies in the early stages fail or succeed.

The Lazaridis Institute will use this platform to identify companies to be nominated for the Lazaridis Scale-up program.

Graduates of the scale-up program will create over 150 jobs in southern Ontario.

The grant is part of a new investment from the Federal Economic Development Agency for southern Ontario.