London, Ontario – The network responsible for the Southern Ontario Fund for Investment in Innovation (SOFII) in the west celebrated the signing of its first agreement today. Susan Truppe, Member of Parliament for London, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), and Don Anderson, Treasurer of the Western Ontario Community Futures Development Corporations (CFDC) Association, were joined by the first recipients of loans under the $12 million innovation fund to mark this important milestone.
Voices.com is receiving a $500,000 loan that will allow it to support operations process development, and execute a sales plan that includes the development of a mobile application for use by its clients and prospects. Voices.com is the leading online marketplace that connects business clients with professional voice actors. It offers a web-based service that enables clients (buyers) to create and manage job postings, search a database of more than 100,000 voices representing over 100 languages and securely send payment.
“Our government recognizes that innovation is a catalyst for prosperity in both rural and urban communities,” said MP Truppe. “Through this fund, we are investing in innovation that will create new business opportunities for companies today, which will help to secure a bright and prosperous future for all of western Ontario.”
“The 21-member organizations of the Western Ontario Community Futures Development Corporations Association are pleased to be acting as the delivery agent for this exciting funding initiative to support established businesses in western Ontario, who are incorporating new technology and techniques in the development of new products, new business processes and new markets. Voices.com is an example of the type of innovation that will enable western Ontario to re-establish its leadership as an economic engine in the global marketplace,” said Anderson.
Voices.com will use the loan to expand its business through three initiatives: mobile, global and social. As a result, the company anticipates creating up to 35 new full-time positions.
“We are honoured to be the recipients of this prestigious loan. With the help of the Western Ontario CFDC Association, we'll be able to increase the number of jobs available to talented people living and working in London, Ontario Canada,” said Stephanie Ciccarelli, Chief Marketing Officer at Voices.com. “Voices.com is privileged to contribute to the economic growth of the City of London.”
Launched by the Government of Canada in the summer 2012, the Southern Ontario Fund for Investment in Innovation (SOFII) is made up of two loan funds supported through FedDev Ontario’s Prosperity Initiative. Of the total $20-million contribution, $8 million has been allocated to the east and $12 million to the west. The funds are being delivered by southern Ontario’s two regional Community Futures Development Corporation (CFDC) networks: the Eastern Ontario CFDC Network Inc. and Western Ontario CFDC Association. SOFII provides interest-bearing business loans valued between $150,000 to $500,000 to support innovation and growth in small and medium-sized businesses across the region.
For more information about SOFII, please visit http://www.SOFII.ca.
