FedNor Invests Nearly $700,000 to Support Innovative Businesses and Youth
News Release
The Government of Canada is investing $698,400 to enable the Northwestern Ontario Innovation Centre (NOIC) to launch two three-year pilot programs in support of innovative, small-medium sized enterprises, and youth recruitment and retention in Northwestern Ontario.
The Honourable Patty Hajdu, Minister of Employment, Workforce Development and Labour, and Member of Parliament for Thunder Bay—Superior North, made the announcement today on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor. Of the total, $499,000 will support the launch of the Business Growth and Talent Development project. Through this initiative, innovative small and medium-sized enterprises (SMEs) in Northwestern Ontario will have access to funding to help them hire young professional employees for 15-month placements. The goal of the project is to assist companies with business growth and market development.
The remaining $199,400 will enable the NOIC to introduce its Youth Effect project that will provide entrepreneurial, innovative youth (aged 18-29) with experiential learning and training through 15-week placements with innovative small and medium-sized enterprises. Under this program, SMEs that identify a need for support with a specific project will be matched with qualified youth based on their skills, interest, and need. The project is expected to lead to full-time employment for many of the participants.
Quotes
"One of the key tenets of our Government’s Innovation Agenda is attracting and developing talent. By investing to nurture human capital in our Northern and rural regions, we are providing communities and businesses with access to an essential component of economic growth and success."
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor
"Our Government recognizes that Canada’s youth holds the key to our future prosperity. This investment in the Northwestern Ontario Innovation Centre will ensure that innovative SMEs can benefit from a skilled workforce, while helping young people access quality job training and a pathway to excellent careers."
The Honourable Patty Hajdu, Minister of Employment, Workforce Development and Labour, and Member of Parliament for Thunder Bay—Superior North
"By encouraging SMEs to grow and innovate, the Government of Canada is helping to modernize our regional economy and create meaningful middle-class employment here in Northern Ontario. The funding announced today focuses on the development of young professionals and providing scalable, innovative SMEs with the resources to grow their markets."
Don Rusnak, Member of Parliament for Thunder Bay—Rainy River
"At the Northwestern Ontario Innovation Centre, we like to develop and lead new projects, cool ideas, and activities that can positively impact our region and its people. We are thrilled that the Government of Canada, through FedNor, is helping us deliver on our mission to create jobs by supporting innovative entrepreneurs, and contribute to the long-term economic growth of Northwestern Ontario."
Brian Ktytor, President, Northwestern Ontario Innovation Centre
Quick Facts
- The funding announced today is provided through FedNor’s Northern Ontario Development Program, which supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation throughout the region.
- Located on the Confederation College Campus, the Northwestern Ontario Innovation Centre focuses on all things innovative. From new start-ups to established businesses, and everything in between, the NOIC works to help companies in Northwestern Ontario to get their start, grow and succeed.
Associated Links
Contacts
Paul Denis
Communications Officer
FedNor
705-507.0539
paul.denis@canada.ca