Government of Canada invests $10 million to support green innovators across southwestern Ontario
News release
April 29, 2022 – Guelph, Ontario
The development and growth of Canada’s green technology sector is a priority for the Government of Canada. The diverse network of promising Canadian businesses in southern Ontario has the ability to be a vital contributor to make Canada a global leader in green technology and manufacturing.
Today, the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced a non-repayable contribution of $10 million for Innovation Guelph to lead the delivery of the i.d.e.a. Fund. This southwestern Ontario-focused initiative will help Canadian businesses focused on green technology and clean innovation succeed through access to capital and mentoring to commercialize innovative technologies. By ensuring Canadian green innovators have the necessary support to succeed, this investment will create good jobs for Canadians and continue the growth of a greener, more innovative Canadian economy.
Led by Innovation Guelph, in partnership with five southwestern Ontario Regional Innovation Centres (RICs): Haltech (Halton Region), Innovate Niagara, Innovation Factory (Hamilton), TechAlliance of Southwestern Ontario (London) and WEtech Alliance (Windsor and Chatham-Kent), the i.d.e.a. Fund will target companies with a focus on agri-innovation, cleantech and advanced manufacturing in urban and rural communities. The project will support 240 businesses, create and maintain 840 jobs, and result in the commercialization of 135 new products, services, processes and technologies.
To foster a more diverse and inclusive economy, the RICs will work together to ensure 50 percent of the businesses are owned or led by women and 30 percent are owned or led by Indigenous peoples, persons with disabilities, Black communities, racialized communities and members of the LGBTQ2+ community. Additional details related to the Fund and application process can be found at www.idea-fund.ca.
Quotes
“Today’s investment in Innovation Guelph and the i.d.e.a. Fund will provide Canadian entrepreneurs and businesses with the support they need to produce innovative solutions that continue Canada’s transition to a green economy. This investment will create good, secure jobs for Canadians, protect Canadian supply chains, and ensure that the Canadian economy is positioned to be a global leader, now and into the future.”
– The Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario
“Through this collaboration, Innovation Guelph is strengthening our local economy and supporting a resilient southern Ontario as we work towards a green future. This project will build on Guelph’s role as a leader in clean technology and will provide resources, create opportunities for SMEs to scale-up, and support local businesses and entrepreneurs as they forge ahead with new clean growth technologies.”
– Lloyd Longfield, Member of Parliament for Guelph
“Since its inception, Innovation Guelph and the province’s Regional Innovation Centres have been fostering innovation and entrepreneurship. This funding is an exciting opportunity to extend our reach and impact with an innovative approach, where for the first time, RICs are collaboratively delivering support to under-represented communities who will contribute to a green recovery.”
– Alison Crumblehulme, CEO, Innovation Guelph
Quick facts
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FedDev Ontario is delivering $224 million of the Jobs and Growth Fund (JGF) to help businesses in southern Ontario and the organizations who support them, future-proof, build resiliency and prepare for growth by transitioning to a green, inclusive and competitive economy.
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Since 2015, the Government of Canada, through FedDev Ontario, has invested over $366 million in almost 100 projects related to clean growth in southern Ontario.
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Established in 2011, Innovation Guelph provides business advisory services and related programming to accelerate the growth of high potential start ups and small- and medium-sized enterprises with over 1,500 businesses supported to date.
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Regional Innovation Centres (RICs) help Ontario’s early-stage entrepreneurs succeed by offering mentorship, market intelligence, connecting them to funding resources and help innovators work through the challenges of developing their ideas to make them marketable.
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Applications for the i.d.e.a Fund will be accepted starting on May 10 and will close on June 7, 2022. Interested applicants are encouraged to learn more at www.idea-fund.ca.
Associated links
Contacts
Monica Granados
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
Monica.Granados@feddevontario.gc.ca
Media Relations
FedDev Ontario
feddevontariomediarelations-relationsmedias@feddevontario.gc.ca
Stay connected
Website: www.FedDevOntario.gc.ca
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