Six companies based in, or with ties to, Waterloo Region are among a cohort of eight that will receive up to $50,000 and mentorship from the newly formed AVIN Waterloo Ventures Fund.

The OpenHDMaps Autonomous Vehicle Innovation Network (AVIN) Ventures Fund supports companies working in the field of autonomous vehicles and connected transportation technology. The fund is part of a program offered through the Ontario Centres of Excellence and partners include the Waterloo Economic Development Corporation, the University of Waterloo’s Centre for Automotive Research (WATCAR) and Communitech.

The eight companies, which collectively form the fund’s first cohort, were chosen from 23 applicants.

The chosen eight include:

Each will receive support to develop connected transportation and mapping products and systems and each must provide an in-kind match of the awarded funds at a ratio of at least 1:1.5.

Applications for a second cohort of companies will open in the spring of 2020. Interested companies can sign up here to be notified when to apply. 

Communitech is a partner of Startup HERE Toronto.  This article originally appeared on their site.