Boundless Accelerator™ Awards $240,000 to 12 Companies in Cohort 3 of the Government of Canada-Funded i.d.e.a. Fund™

On December 13, 2024, in Guelph, Ontario, the Boundless Accelerator announced the distribution of non-repayable contributions amounting to $20,000 each to 12 companies through Cohort 3 of the i.d.e.a. Fund, which is supported by the Government of Canada. The i.d.e.a. Fund, a significant initiative focused on southern Ontario, is designed to assist clean growth firms in acquiring essential tools for success, particularly in developing green products, services, processes, and technologies. The primary goal of the fund is to mitigate environmental impacts and foster climate change solutions made in Canada.

With a robust investment of $5.2 million directed to Boundless Accelerator by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the i.d.e.a. Fund operates in collaboration with six Regional Innovation Centres: Boundless Accelerator, Innovate Niagara, Innovation Factory, Launch Lab, TechAlliance of Southwestern Ontario, and WETechAlliance. "The companies selected for this cohort represent the next wave of innovation in clean technologies and environmental impact reduction,” stated Alison Crumblehulme, CEO of Boundless Accelerator, emphasizing their significance in promoting sustainable solutions aligned with the mission to catalyze growth in southern Ontario.

Minister Filomena Tassi reinforced the sentiment, asserting that Canada is poised to lead in the green economy, with southern Ontario businesses in a prime position to spearhead this movement. She affirmed that the i.d.e.a. Fund, via Boundless Accelerator and its partners, aims to empower businesses in southern Ontario to develop innovative technologies and adopt environmentally sustainable practices that promise economic growth for future generations. Lloyd Longfield, Member of Parliament for Guelph, applauded the initiative, highlighting its potential to advance green technology projects from conception to market readiness.

The companies awarded in Cohort 3 include Aquam Air Water Ltd., Beck’s Broth, Circulr, CKJ Innovations Ltd., Dript Gourmet, Edie Farming, Good Food Farms, Hundred Year Materials, LandWise Analytica, LUVPUPS Treats Ltd., Neuston Biosystems Inc., and Tensor One.

With the current cohort, a total of 73 companies will secure contributions totaling $1.46 million across southern Ontario, with the i.d.e.a. Fund having supported nearly 320 businesses so far. Regional Innovation Centres play a pivotal role in assisting early-stage entrepreneurs by offering mentorship, insights into market conditions, funding opportunities, and guidance on transformative ideas.

Furthermore, Boundless Accelerator is set to collaborate with four organizations, including the University of Guelph and McGill University, to enhance circular economy activities. Since its establishment in 2011, Boundless Accelerator has supported over 1,400 entrepreneurs by providing them with the necessary mentorship, resources, and connections to thrive in building innovative and sustainable ventures. Their recognized excellence includes awards such as the HeForShe Impact Award and accolades for advancing entrepreneurship and diversity.

FedDev Ontario, operating for 15 years, focuses on fostering innovation and economic diversification in southern Ontario, driving job creation and productivity across the region. By investing in initiatives like the i.d.e.a. Fund and partnering with innovative organizations, the government intends to bolster business growth and enhance the overall economic landscape in southern Ontario.