Today, Raj Saini, Member of Parliament for Kitchener Centre, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, announced a contribution of $2.57 million for Nicoya to scale up operations and accelerate growth into new markets.
Nicoya is a nanotechnology company specializing in the development of surface plasmon resonance (SPR) instruments—a laboratory device that measures the interactions between molecules. The company has created the world’s first desktop SPR, which serves as a more accurate, portable, cost-effective method for collecting data for research and development.
FedDev Ontario’s contribution will help Nicoya to develop and market a new version of its product, OpenSPR, to the biotechnology and pharmaceutical sectors. This project will also allow the company to meet increasing demand, expand into new export markets and create 29 highly-skilled jobs in the Kitchener–Waterloo Region.
This project aligns with the Government of Canada’s Economic Strategy Table on Health and Bio-Sciences to support investment and increase the number of high-growth firms in this sector.