TORONTO, Nov. 15, 2017 (GLOBE NEWSWIRE) -- Laipac Technology Inc., a leader in the development of Internet of Things (IoT) products and services, is pleased to announce that it has been awarded funding under the Small Business Innovation Challenge ( SBIC ) program delivered by Ontario Centres of Excellence (OCE) on behalf of the Government of Ontario.
SBIC is being funded by the Ministry of Economic Development and Growth to help SMEs launch their innovations from the idea stage to globally competitive products and services, using public sector challenges as a platform for testing, developing, and demonstrating innovative technology solutions. Helping businesses innovate while enhancing government services for people across the province is part of the Government of Ontario's plan to create jobs, grow the economy and help people in their everyday lives.
Laipac is participating in SBIC in response to the Vehicle Occupancy Detection Problem Statement issued by Ontario’s Ministry of Transportation, and announced by the Ministry of Economic Development and Growth in a news release on November 9. SBIC will support the development of technologies that will detect how many people are in vehicles using high-occupancy toll (HOT) lanes to ensure that vehicles with more than one occupant are not inadvertently billed or fined.
The Laipac project combines IoT solutions with real-time identification methods for high-occupancy vehicles travelling on High-Occupancy Vehicles Toll (HOVT) lanes, and provides evidence for billing single-occupancy vehicles travelling in HOVT lanes. This IoT solution is called iHOS network.
Quotes: "Laipac is honoured to be selected by OCE to develop the technologies to detect the single- and high-occupancy vehicles travelling on HOV lane in provincial highways. Our proposed IoT solution will require zero infrastructure investment and is expandable to be compatible with existing tolling technologies. We look forward to being a part of the economic growth of our province." - Diego Lai, CEO of Laipac Technology Inc.
“Governments need the transformative technology and innovation that start-ups can provide. This challenge is a great way to encourage businesses here in Ontario to develop solutions that can help us better serve Ontarians, while testing ideas they can ultimately export to the global market.” - Brad Duguid, Minister of Economic Growth and Development
“Supporting innovative Ontario-based companies and helping people in their everyday lives is truly a win-win proposition. The companies that compete in this challenge have an opportunity to use it as a launch pad for global opportunities while also strengthening Ontario’s position as a global leader in innovation.” - Reza Moridi, Minister of Research, Innovation and Science
"OCE is proud to deliver the Small Business Innovation Challenge on behalf of the Ontario government. The program will support Ontario-based, technology-driven SMEs in their mission to develop and test innovative technology solutions for public sector challenges. I would like to congratulate the successful applicants and I look forward to seeing their products and services grow." - Tom Corr, President and CEO of Ontario Centres of Excellence (OCE)
About Laipac Technology Inc. Laipac Technology Inc . is one of the leading companies in the development of Internet of Things (IoT) products and solutions. Laipac provides an excellent IoT platform for real time asset tracking and people monitoring on LocationNow.com. Laipac Technology Inc. was founded in 1999 by two distinguished Canadian entrepreneurs, Maria C. Pacini and Diego Lai, who continuously strive for product improvements and new ideas with the purpose of bringing the best innovated products to the market. Laipac Technology Inc. is currently exporting products and solutions to over 100 countries and has received numerous awards and nominations that recognizes the excellent business achievements and visions for the future. For more information, visit: http://www.laipac.com/
About Ontario Centres of Excellence (OCE) Inc. OCE drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario's global competitiveness. In doing this, OCE fosters the training and development of the next generation of innovators and entrepreneurs and is a key partner with Ontario's industry, universities, colleges, research hospitals, investors and governments. A champion of leading-edge technologies, best practices and research, OCE invests in sectors such as advanced health, digital media and information communications, advanced manufacturing and materials, and cleantech including energy, environment and water. OCE is a key partner in delivering Ontario's Innovation Agenda as a member of the province's Ontario Network of Entrepreneurs (ONE). Funded by the Government of Ontario, the ONE is made up of regional and sector-focused organizations and helps Ontario-based entrepreneurs rapidly grow their company and create jobs. For more information, visit: http://www.oce-ontario.org/
For more information, visit: www.laipac.com .
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Media Contact: Diego Lai Laipac Technology Inc. diego.lai@laipac.com
