Helping innovators and job creators embrace new technologies and compete globally
News release
FedNor invests to help Northern Ontario businesses and start-ups innovate, grow and create middle-class jobs
October 26, 2018 – North Bay, Ontario – Federal Economic Development Initiative for Northern Ontario - FedNor
Northern Ontario businesses and entrepreneurs will be well positioned to innovate, commercialize new products, grow their operations and capitalize on emerging opportunities as a result of a Government of Canada investment of $1,250,000. This strategic investment will enable Innovation Initiatives Ontario North (IION) to expand two priority initiatives in the Nipissing–Timiskaming and Parry Sound–Muskoka regions.
Anthony Rota, Member of Parliament for Nipissing–Timiskaming, made the announcement today on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor.
Specifically, a FedNor investment of $800,000 will support Phase 4 of IION’s popular Step Forward Entrepreneurs Program (SFEP). Building on the success of the first three phases of SFEP, this strategic initiative will provide qualifying businesses with up to $10,000 to enhance and expand their operations, commercialize new products, conduct market research and capitalize on export opportunities.
In addition, a FedNor contribution of $450,000 will enable IION to respond to the growing demand for the organization’s Triple-P (Productivity, Prototype, Process improvements) initiative and expand the program’s reach to assist even more small and medium-sized enterprises enhance productivity. Once fully implemented, the Triple-P initiative is expected to assist more than 80 Northern Ontario entrepreneurs to grow their businesses and create or maintain up to 180 middle-class jobs in the region.
Following the funding announcement, MP Rota and Rob Deline, Executive Director, IION, presented local entrepreneurs Joe and Dillon Guido with the 2018 IION Innovation Award of Excellence. This award is given to an outstanding company, individual(s) or organization that has notably fostered economic prosperity in their region, through initiative and collaborative efforts to support science, technology, innovation and entrepreneurship.
Quotes
“The Government of Canada is committed to helping Canadian companies and entrepreneurs innovate, grow and create well-paying, middle-class jobs. We are pleased to invest in priority projects such at these with Innovation Initiatives Ontario North that support our government’s Innovation and Skills Plan and help businesses become more productive, efficient and competitive in the global marketplace.”
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor
“Technology and innovation are vital to the ongoing success of businesses, municipalities and Indigenous communities throughout Nipissing–Timiskaming and across Northern Ontario. Today’s announcement supports two key programs led by IION that will ensure small and medium-sized enterprises have continued access to the tools and resources they need to develop, grow and thrive in the modern economy.”
Anthony Rota, Member of Parliament for Nipissing–Timiskaming
“Businesses and entrepreneurs engaged in innovation are vital to the economic growth of our region. Today’s announcement clearly demonstrates confidence in our organization, while highlighting FedNor’s commitment to support technology adoption and the pursuit of innovation by businesses in Northeastern Ontario as they grow and compete in new and larger markets. Through strategic programs like SFEP and Triple-P, IION will continue to help businesses develop, innovate, grow and prosper."
Rob Deline, Executive Director, Innovation Initiatives Ontario North
Quick facts
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The funding announced today is provided through FedNor’s Northern Ontario Development Program, and supports the Government of Canada’s Prosperity and Growth Strategy for Northern Ontario, which helps to ensure the region can fully benefit from the national Innovation and Skills Plan.
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Innovation Initiatives Ontario North is a not-for-profit organization that provides business advisory services, strategic planning advice, and helps businesses and communities to secure the resources required to foster growth and economic development in Northern Ontario.
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IION reports that since the inception of its SFEP in September 2012, the initiative has provided direct support to 160 projects in the Nipissing–Timiskaming and Parry Sound–Muskoka regions, helping to create more than 175 jobs. The initiative has also helped create 27 new products, processes or services and assisted 75 firms in their efforts to expand or modernize their operations.
Associated links
Contacts
Barclay Babcock
Communications Officer
FedNor
705-690-0957
barclay.babcock@canada.ca