The article discusses how Newfoundland and Labrador’s technology companies could benefit from Ottawa’s increased defence spending, with local firms expressing optimism about new opportunities in the defence sector. The federal government’s plans to significantly increase defence spending are expected to create more demand for Canadian-made technology and capabilities, particularly as Canada focuses on strengthening its domestic defence industry and protecting its coastline and Arctic.

Kraken Robotics is highlighted as one of the Newfoundland and Labrador companies positioned to benefit from this increased investment. Kraken President Greg Reid emphasized the company’s existing capabilities and local workforce, saying,

 We’ve got capability. We’ve got people. We’re a local manufacturer. And we’d love to be able to have people down the road point and say ‘There’s the Canadian champion in subsea technology.’

Reid also expressed optimism about the broader impact of increased defence spending, describing it as “a rising tide that lifts all boats.”

The article notes that Kraken’s subsea technology, including its KATFISH mine-hunting systems, batteries and sonar technology, could play an important role as Canada increases its focus on maritime and Arctic security. Reid pointed to the changing global security environment, saying, “It’s a complicated world out there. There’s a lot of geopolitical hotspots, and now we’re really starting to see it in the Arctic and at home as well.”

Overall, the article presents increased federal defence spending as a significant opportunity for Newfoundland and Labrador’s technology sector. For Kraken, the investment could create additional opportunities to provide Canadian-made subsea technology while strengthening its position as a Canadian leader in subsea technology.

Article: N.L. tech companies optimistic they’ll see benefit from Ottawa’s increased defence dollars