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 TechAlliance of Southwestern Ontario is pleased to partner with Innovation Guelph to deliver 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 WEtech Alliance 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, TechAlliance of Southwestern Ontario will lead on delivering the Fund in London, Middlesex County, Lambton County, Elgin County, Oxford County, and Huron County. TechAlliance of Southwestern Ontario will help to provide eligible businesses in the region with advisory services and non-repayable contributions of up to $30,000 to provide the working capital needed 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 TechAlliance.ca/Idea-Fund.