Open Data Exchange (ODX), a Canada-based open data commercialisation initiative formed by partners including enterprise data management software producer OpenText, has named the first eight companies chosen for its ODX Ventures scheme.
The recipients included digital marketing startup Envionx, geospatial technology developer Ecopia, land development assessment platform MapYourProperty and children’s learning app Peekapak.
The participants were rounded out by telematics system developer Pitstop, open data utilisation startup ThinkDataWorks, employee assessment platform Plasticity Labs and social planning app Chillwall.
Each will receive C$50,000 ($37,000) from ODX Ventures that will support product development, market traction and company growth.
Other ODX partners include learning software provider D2L, University of Waterloo, innovation centre Communitech and its digital media commercialisation network CDMN. All capital provided by the organisation is matched by the Canadian government.
Kevin Tuer, managing director of ODX, said: “We introduced the ODX Ventures program to help companies access and use open data, a market that is projected to create value in the trillions of dollars over the next few years.
“We were very pleased by the response to our first call, so much so that we plan to extend another call in the new year.”