WETechAlliance Supports 12 Companies with $240,000 in Funding from Government of Canada’s i.d.e.a. Fund™ Cohort 3

Today, WETechAlliance, in collaboration with Boundless Accelerator and backed by the Government of Canada, awarded non-repayable contributions of $20,000 each to twelve companies through the i.d.e.a. Fund, specifically part of its third cohort. This initiative targets southern Ontario and aims to support clean growth firms by offering financial resources and business advisory support. The goal is to facilitate the development or redesign of green products, services, processes, and technologies that minimize environmental impact and contribute to climate change solutions made in Canada.

The i.d.e.a. Fund promotes diversity and inclusion while driving sustainable growth in the circular economy across Canada. The program is funded by a $5.2 million investment allocated to Boundless Accelerator through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). It is being administered by six Regional Innovation Centres (RICs), including Boundless Accelerator, Innovate Niagara, Innovation Factory, Launch Lab, TechAlliance of Southwestern Ontario, and WETechAlliance.

Yvonne Pilon, President and CEO of WETechAlliance, highlighted the i.d.e.a. Fund's role in facilitating innovation through collaboration, expressing enthusiasm for assisting the twelve selected companies as they develop sustainable solutions that can bolster economic growth and position southern Ontario as a leader in clean technology innovation.

The twelve companies supported in Cohort 3 include: DuroByte Inc., Evolution Data, Crop Defenders, Wild Ones Organics, Grays Shop Inc., Frugalicious, Fetherstill Inc., Terranova UAV, Iceberg Cyber, Handy Bros Home Comfort Inc., Sherwood Innovations Inc., and Estare Inc. These businesses are recognized for their potential to contribute to the development of the green economy.

The Honourable Filomena Tassi, who is the Minister responsible for FedDev Ontario, emphasized Canada’s readiness to lead in the green economy, citing the unique positioning of southern Ontario's businesses to spearhead this movement. She stated that the i.d.e.a. Fund is not just supporting the commercialization of innovative technologies, but also encourages the adoption of new environmentally-friendly processes that ensure sustainable economic growth for future generations.

Irek Kusmierczyk, the Parliamentary Secretary to the Minister of Employment, Workforce Development and Official Languages, also underscored the necessity of investing in environmentally friendly solutions for Canada’s sustainable economic future. He reiterated that the companies that received funding from the i.d.e.a. Fund will drive innovative technological solutions which in turn will contribute to a greener future for southwestern Ontario.

Overall, the i.d.e.a. Fund aims to empower clean growth startups in southern Ontario, fostering initiatives that protect the environment while enhancing economic resilience. Through targeted financial support and strategic partnerships, this program is positioned as a catalyst for sustainable innovation that aligns with national and global calls for actionable climate change solutions.