FedDev Ontario supports opportunities for businesses and student entrepreneurs in London
Government of Canada contributes $3 million to equip Fanshawe College’s Innovation Village with new industry-relevant capabilities to create new jobs and support economic recovery
November 13, 2020 – London, ON
Located in the heart of southwestern Ontario, London is home to world-class post-secondary institutions and recognized for its diverse economy with fast-growing sectors including digital technologies and agri-food. Through strategic investments, the Government of Canada is building on regional strengths to foster innovation and entrepreneurship, by building a funnel of new start-ups, which is essential to helping our economy recover from the impact of COVID-19.
Support for Students and Businesses
Today, Kate Young, Parliamentary Secretary to the Minister of Economic Development and Official Languages (FedDev Ontario) and Member of Parliament for London West, along with Peter Fragiskatos, Member of Parliament for London North Centre, announced a $3-million non-repayable FedDev Ontario contribution for Fanshawe College.
Innovation Village at Fanshawe’s London campus will be a physical and virtual hub where students will discover one-stop support and exceptional learning opportunities. It will include collaborative workspaces, virtual reality and multimedia labs, a maker space, project rooms, research support, a food processing lab and cutting-edge equipment.
Community partners will be able to access the expert resources of students and professors through project work, with a view to fueling economic growth and social benefits while expanding student opportunities to collaborate with local businesses and industries.
Through this FedDev Ontario investment, Fanshawe College will establish specialized industry-relevant capabilities, assisting an anticipated 40 businesses, produce 10 new products and services, create eight new jobs and directly support up to 28 student entrepreneurs within the first three years of operation. The project will support the recovery and momentum of key economic sectors in London, while helping entrepreneurs gain experience and commercialize their ideas more quickly.
By providing access to the specialized facilities and capabilities that student entrepreneurs and start-ups require to scale their businesses, this project will strengthen London’s entrepreneurship supports and channel new start-ups into the city’s innovation ecosystem, growing the local economy.
“In our communities, we have incredible entrepreneurs, world-class post-secondary institutions and the dedication to work toward real economic benefits. As Canada recovers from the impacts of the pandemic, we are partnering with organizations like Fanshawe College to foster the right conditions for student entrepreneurs to grow, provide solutions for businesses and keep their local economies strong.”
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages
“London has long been known as an innovative region. Our government recognizes our potential to lead in areas such as food manufacturing and digital technologies. These industry sectors have incredible potential and by collaborating with Fanshawe College, we are supporting important parts of our region’s economy to stay strong, while bringing new innovators into the industry and helping them commercialize their ideas.”
- Kate Young, Parliamentary Secretary to the Minister of Economic Development and Official Languages (FedDev Ontario) and Member of Parliament for London West
“Now more than ever we need students who can quickly adapt and respond to emerging trends in every industry. This funding for Innovation Village allows us to provide exceptional learning opportunities using cutting-edge equipment to prepare Fanshawe graduates to make significant economic contributions to their community. We thank our federal partners for their continued support of Fanshawe College and our students.”
- Peter Devlin, President, Fanshawe College
Fanshawe College is the sixth largest of Ontario's 24 colleges in terms of enrolment. Its educational programs focus on engineering, manufacturing, information technology, electronics, digital and new media, and business management.
The $58-million Innovation Village will be a physical and virtual hub and is set to be completed by 2023.
London's agri-food sector has over 90 companies employing more than 7,000 people, and there are over 350 companies employing more than 9,000 people in London’s digital technology sector.
Since 2015, FedDev Ontario has funded over 30 projects totaling more than $30 million in the Middlesex Census Division.
Press Secretary, Office of the Minister of Economic Development and Official Languages
Toll Free: 1-866-593-5505
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