Datametrex Completes First Milestone for an IDEaS Challenge With Department of Defence
February 08 2019 - 7:00AM
Datametrex AI Limited (the
“
Company” or “
Datametrex”)
(
TSXV: DM, FSE: D4G) is pleased to announce that
it has successfully completed the first milestone of a multi phase
R&D program sponsored by the Canadian Federal Government called
IDEaS. The Company will be receiving payment of approximately
$93,000.00 CAD for successfully achieving this milestone. In
addition, it will now commence work on the 2nd milestone which
would bring the total value of this opportunity to approximately
$200,000.00 CAD. If the Company is successful in its submission of
the 2nd milestone, it will be eligible for a larger 12 month
contract up to $1M in value.
IDEaS was announced in Canada’s new defence
policy, Strong, Secure, Engaged, and commits to $1.6 billion
of investment in innovations for defence and security over the next
20 years. The program is looking for solutions to support the
development of defence and security capabilities.
“The IDEaS Program will provide unique
opportunities for Canadians to put forward their best solutions on
defence and security challenges, and will help put those solutions
into the hands of the women and men of the Canadian Armed Forces.
This investment will support the growth and expansion of Canada’s
innovation community for the next 20 years.”
– Minister of National Defence, Harjit S.
Sajjan
IDEaS will support the development of solutions
from their conceptual stage, through prototype testing and
capability development. The program includes several elements that
promote collaboration between innovators, provides developmental
resources and provides opportunities to interact with DND’s science
and military members. Through which all innovators are on an even
playing field to solve specific defence and security
challenges.
“We are thrilled to progress to the next phase
of this project. Our team is doing a great job delivering on the
objectives and we look forward to continuing to work with the
Canadian Government in helping to solve potential security risks”
says Andrew Ryu, Chairman and CEO of Datametrex AI.
About Datametrex AI Limited
Datametrex AI Limited is a technology focused
company with exposure to Artificial Intelligence and Machine
Learning through its wholly owned subsidiary, Nexalogy
(www.nexalogy.com) and Implementing Blockchain technology for
secure Data Transfers through its investee company, Graph
Blockchain (www.graphblockchain.com).
Additional information on Datametrex is available at:
www.datametrex.com
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For further information, please
contact:
Jeffrey Stevens – President & COOPhone:
(647) 400-8494Email: jstevens@datametrex.com
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historical in nature may constitute forward-looking information. In
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forward-looking information contained herein is made as of the date
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