Government of Canada Supports Innovation Hub in Mississauga
$1.5 million to foster creativity and give students and local entrepreneurs a competitive edge
February 11, 2019 — Mississauga, Ontario
Collaboration, innovation and entrepreneurship are driving Canada’s economy forward. That is why the Government of Canada is helping Canadian entrepreneurs access the tools, networks and skills they need to succeed.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, along with Omar Alghabra, Member of Parliament for Mississauga Centre, announced that FedDev Ontario is investing $1.5 million to provide a broader range of entrepreneurial support and services at EDGE (Entrepreneurship Discovery and Growth Engine)—Sheridan College’s innovation hub, located at the Hazel McCallion Campus in downtown Mississauga.
EDGE is a collaborative space where innovators can get the resources they need to help start and grow their businesses. This includes mentorship, networking and skills development, and access to financing. While EDGE was originally focused on student-led ventures, they are now able to take their successful program to the next level by including entrepreneurs across the Mississauga region, thanks to FedDev Ontario funding.
This funding will be used to deliver new mentorship programming, create new workshops and education programs, and provide support targeted to the needs of the region. Through this project, 60 high-potential companies will be supported, over 80 industry partnerships will be established and strengthened, and 70 jobs will be created and maintained in the Mississauga region.
Established in partnership between Sheridan College and the City of Mississauga, this initiative is strengthening Mississauga’s role in the innovation network to bridge the Toronto–Waterloo corridor. It will include advisory support from Ryerson University based on its globally-recognized expertise in incubation programming.
Through the Government’s Innovation and Skills Plan, we are creating a culture of entrepreneurship and innovation. This project is part of this plan, that will create good jobs and ensure Canadians have the skills they need to succeed in today’s competitive global environment.
“The Government of Canada has an ambitious plan to help make Canada a world leader in innovation and entrepreneurship. We are pleased to support Sheridan College in providing more opportunities for early-stage businesses to access the resources needed to build innovative companies and create more jobs for Canadians.”
— The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“Through FedDev Ontario’s support to expand programming at EDGE, we are encouraging the next generation of innovation to happen right here in our community. This project is a catalyst for Mississauga, building on our entrepreneurial ecosystem and spurring local economic growth.”
— Omar Alghabra, Member of Parliament for Mississauga Centre
“This funding is important not only to Sheridan College, but also for the City of Mississauga. We are working hard to foster an environment of innovation and entrepreneurship that will allow people with great ideas to take them from concept to commercialization, right here in Mississauga. That’s why our city has been so supportive of the Sheridan EDGE Innovation Hub, and why we are thankful for today’s important investment by the federal government. Only by working together can we make innovation come to life.”
— Her Worship Bonnie Crombie, Mayor of the City of Mississauga
“Sheridan is enormously grateful for this significant investment from FedDev Ontario and the opportunity it provides to foster deeper collaboration among the local entrepreneurship ecosystem through the intelligent combination of expertise and resources. Our collective efforts will strengthen regional competitiveness, while promoting deep learning and the development of invaluable 21st-century skills such as critical thinking among early-stage entrepreneurs.”
— Dr. Janet Morrison, President and Vice Chancellor, Sheridan College
In 2018, Sheridan College was ranked in the top five research colleges in Canada, and was first overall in completed research projects.
Since 2017, EDGE has been providing training and mentorship services to Sheridan’s student-led start-ups.
FedDev Ontario’s non-repayable contribution of $1.5 million is toward total project costs of $2 million, leveraging $500,000 from Sheridan College and other partners.
FedDev Ontario is now accepting new projects, using a single application form, through three simplified funding streams that have been designed to meet the needs of innovators and job creators. For more information, visit www.FedDevOntario.gc.ca.
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