VueReal to increase microLED manufacturing and create high-quality jobs with Invest Ontario support

VueReal investing $40 million to grow its workforce and support the company’s research and development team

WATERLOO, Ontario — Invest Ontario announced today that it will provide investment support to VueReal, a leader in microLED technologies based in Ontario, to enhance their technology manufacturing capabilities in the province. With funding assistance from Invest Ontario and Sustainable Development Technology Canada (SDTC), VueReal plans to create 75 new jobs over three years in the Kitchener-Waterloo area.

The project will boost commercial capacity for VueReal's cutting-edge microLED displays. VueReal's innovative printing technology allows for customized display manufacturing for niche and mainstream markets. Their displays are used in various electronic products, including computers, phones, television, and smartwatches, as well as monitors in the aerospace, automotive, and medical technology industries.

VueReal’s investment is a vote of confidence in Ontario’s world-class workforce and advanced manufacturing sector. We’re building Ontario by working closely with companies like VueReal to create more opportunities for workers today and for generations to come. Thank you VueReal for choosing Ontario.

Vic Fedeli

Minister of Economic Development, Job Creation and Trade

MicroLEDs are considered a gamechanger in the electronic displays industry due to their reduced energy consumption. Market forecasts for microLED displays are estimated to reach US$11.5 billion by 2026, according to Research and Markets. VueReal is positioned to capitalize on this growth and become the North American leader in microLED production.

Now is the time for ambitious climate action, and to support cleantech entrepreneurs like VueReal, who are turning vision into reality with help from today’s investments. Our government is proud to stand shoulder to shoulder with these groundbreaking companies as they drive innovation and make their mark as international leaders in clean technology. We will continue to support our companies as they grow the economy and create well-paying jobs in this industry.

The Honourable François-Philippe Champagne

Canada’s Minister of Innovation, Science and Industry

Invest Ontario is contributing a $2 million grant – through the Invest Ontario Fund – subject to executing a definitive agreement, to boost VueReal’s innovation and production in Canada’s largest tech hub. The federal government is also providing $8.5 million through its SDTC fund. The collaboration between Invest Ontario and SDTC to fund VueReal’s microLED technology project marks an important milestone in the evolution of both organizations, demonstrating the value of partnership and cooperation in driving innovation and growth in Ontario’s manufacturing sector.

Invest Ontario is proud to support a homegrown Canadian company that has innovated world-class microLED technology right here in Waterloo, Ontario. Our focus is to strengthen the manufacturing supply chain and accelerate financial supports to companies like VueReal that can drive rapid growth and compete in a hyper-competitive market.

Trevor Dauphinee

CEO of Invest Ontario

Ontario’s thriving technology sector comprises over 408,000 skilled IT professionals and more than 65,000 STEM graduates each year. VueReal is one of almost 25,000 tech businesses in the province, contributing over $48 billion annually to the technology sector’s GDP.

Canada’s great universities, including the University of Waterloo, combined with government research funds, make it a prime location for developing cutting-edge and sustainable technologies. VueReal has leveraged this ecosystem to develop its microSolid printing technologies, which enable the creation of smart surfaces for next-generation displays and sensor applications.

Moreover, a recent collaboration between VueReal, SDTC, and Invest Ontario on a project worth approximately $40 million highlights the potential to scale these technologies into full-scale production in the Waterloo Region and Ontario. These innovative technologies have a significant role in generating employment opportunities in today’s modern economy and hold strategic importance for multiple industries, such as consumer electronics, healthcare, medical, security, automotive, aerospace, and more. We are proud to produce these advanced technologies and products in Waterloo, Ontario.

Reza Chaji

CEO and Founder of VueReal

Other major tech companies, such as Amazon, Blackberry, Cisco, Ericsson, Google, LG, OpenText, and Shopify, have also established R&D operations in Ontario, making it the second-largest IT cluster in North America after California’s Silicon Valley. This collaborative and innovative ecosystem generates value for companies, employees, and the province’s economy.

For more information about Invest Ontario, please visit www.investontario.ca.