Innovation Guelph provides 21 companies with $630,000 through Cohort 2 of Government of Canada-funded i.d.e.a. Fund™

News Release
For Immediate Release

June 14, 2023 Guelph, Ontario

Today, 21 companies received non-repayable contributions of $630,000 from Innovation Guelph, through Cohort 2 of the Government of Canada-supported i.d.e.a Fund.

The i.d.e.a. Fund is a southern Ontario-focused initiative that was developed to help clean growth firms access the tools they need to succeed by providing financial and business advisory supports to develop or redesign green products, services, processes and technologies that reduce impacts to our environment and create made-in-Canada climate change solutions.

The program fosters inclusion and diversity, with a focus on continuing Canada’s transition to a green economy. Supported by a $10-million Government of Canada investment through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the i.d.e.a. Fund is being delivered by six Regional Innovation Centres (RICs): Innovation Guelph, WETechAlliance, Haltech, Innovate Niagara, Innovation Factory and TechAlliance of Southwestern Ontario.

“Business owners in southern Ontario are making incredible strides to promote green products and build a clean economy. The i.d.e.a. Fund offers financial and advisory support to entrepreneurs who are creating made-in-Canada solutions to our everyday problems,” said the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “The Government of Canada is happy to support the i.d.e.a. Fund as they work with the next generation of Canada’s entrepreneurs to enable them to reach their full potential.”

The Innovation Guelph-supported companies in Cohort 2 are:

• All Circles
• Be One to Give Inc
• Cascara Energy
• CCS
• CuredCarbon
• EcoTank Canada
• elerGreen
• enVgo Inc.
• Evolve Builders Group Inc.
• Glissner
• Green Circle Dine Ware Ltd.
• Loop Parking
• NanoCnet Ltd.
• Nanocycle Tech Inc.
• OptiFab
• Rawcology
• Remix Snacks
• Saponetti
• Stormflow Surfacing
• The Box Of Life
• The Fitting Room

To learn more about the i.d.e.a. Fund, visit https://innovationguelph.ca/i-d-e-a-fund/.

Quick Facts

• Across southern Ontario, 125 companies will receive non-repayable contributions of $3,750,000 in Cohort 2 https://www.idea-fund.ca/cohort-2-recipients
• In 2022, 117 companies received non-repayable contributions of $3,500,000 through Cohort 1.
• Led by Innovation Guelph, the fund is being delivered in partnership with five other Regional Innovation Centres (RICs): WETechAlliance (Windsor-Essex and Chatham-Kent), Haltech (Halton Region), Innovate Niagara, Innovation Factory (Hamilton), and TechAlliance of Southwestern Ontario (London).
• Fifty percent of the businesses receiving support through the fund will be owned or led by women and 30 percent owned or led by Indigenous peoples, persons with disabilities, Black communities, racialized communities and members of the LGBTQ2+ community.

Associated Links

Contacts

Edward Hutchinson
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
[email protected]

Mickey Campeau
Director of Community Growth
Innovation Guelph Regional Innovation Centre
[email protected]

About FedDev Ontario

For 13 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our pivotal projects, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.

About Innovation Guelph

Innovation Guelph is building prosperity for community well-being by providing mentorship and business support programs and services to help innovative enterprises start, grow and thrive. Innovation Guelph’s business acceleration programs are designed for high-potential start-ups, small- to medium-sized enterprises and women-led businesses across southern Ontario. Innovation Guelph also serves as a one-stop point of access to business support programs and services across the province https://innovationguelph.ca/.