Eligible businesses will receive business advisory services and up to $30,000
May 2, 2022 Guelph, Ontario
Southwestern Ontario has a rich and diverse hub of promising early-stage technology companies with innovative solutions to be commercialized to continue Canada’s transition to a green economy.
That is why Innovation Guelph is pleased to lead the delivery of the Government of Canada supported i.d.e.a. Fund, a southwestern Ontario-focused initiative to help clean growth firms unlock their potential and access the capital and mentoring needed to commercialize innovative technologies.
Participating businesses (that apply and are accepted to receive support through the Fund) will be provided with seed funding as well as wrap-around support that includes access to specialized expertise and business strategies.
On April 29, the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced a non-repayable investment of $10 million for Innovation Guelph to partner with five southwestern Ontario Regional Innovation Centres (RICs): Haltech, Innovate Niagara, Innovation Factory, TechAlliance of Southwestern Ontario and WETechAlliance to deliver the Fund.
The Fund will support 240 businesses in key sectors connected to the green economy, including agri-innovation, cleantech, and advanced manufacturing, to create and maintain 840 jobs, and commercialize 135 new products, services, processes and technologies.
As part of this partnership, Innovation Guelph will provide eligible businesses in the Guelph-Wellington region with advisory services and non-repayable contributions of up to $30,000 to support commercialization efforts and growth. This support will assist firms from across the region’s urban and rural communities bring their technologies to market.
For additional details and eligibility criteria, visit https://innovationguelph.ca/i-d-e-a-fund/.
“Since its inception, Innovation Guelph and the province’s Regional Innovation Centres (RICs) 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.”
“The Government of Canada is making smart investments to build a greener and more innovative Canadian economy. 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.”
“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.”
Senior Communications Officer
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
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. www.innovationguelph.ca
About FedDev Ontario
For more than 12 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 jobs, innovation and growth 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 their productivity, growing their revenues, 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 Southern Ontario Spotlight, pivotal projects, Twitter, Facebook, Instagram and LinkedIn.