Innovation Guelph Awarded $10 Million From the Federal Government For Cleantech Program
Source：canada.ca
From：Taiwan Trade Center, Toronto
Update Time：2022/05/23
The development and growth of Canada’s green technology sector is a priority for the Government of Canada. The diverse network of promising Canadian businesses has the ability to be a vital contributor to making Canada a global leader in green technology and manufacturing.
Innovation Guelph has secured $10 million from the federal government to partner with five southwestern Ontario regional innovation centers (RICs) and bring cleantech innovations to market through inclusion, diversity, environment, and acceleration (i.d.e.a) Fund.
“Since its inception, Innovation Guelph and the province’s Regional Innovation Centres (RICs) have been fostering innovation and entrepreneurship,” said Alison Crumblehulme, executive director and CEO of Innovation Guelph. “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.”
Founded in 2011, Innovation Guelph is a non-profit organization that provides mentorship and business support programs to startups. Over the last decade, Innovation Guelph claims that it has supported more than 1,327 businesses, from startups to scale-ups, through its accelerator programs, which led to the creation of 1,756 jobs.
The five RICs that will help disburse the funding are Haltech in Burlington, Innovate Niagara in St. Catherines, Innovation Factory in Hamilton, TechAlliance of Southwestern Ontario in London, and WEtech Alliance in Windsor – which will support 240 businesses, and create and maintain 840 jobs. The project's aim is also to see 135 new products, services, processes, and technologies commercialized.
According to a news release from the federal government, “This southwestern Ontario-focused initiative will help Canadian businesses focused on green technology and clean innovation succeed through access to capital and mentoring to commercialize innovative technologies,”
“By ensuring Canadian green innovators have the necessary support to succeed, this investment will create good jobs for Canadians and continue the growth of a greener, 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,” said Helena Jaczek, the federal minister responsible for FedDev Ontario, in the release.
“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.”
To create a more inclusive and diverse economy, the release addressed all RICs will ensure 50 percent of eligible businesses for this fund are owned or led by women, and 30 percent is owned or led by Indigenous peoples, persons with disabilities, Black communities, racialized communities and members of the LGBTQ2+ community.
Source: https://www.canada.ca/en/economic-development-southern-ontario/news/2022/04/government-of-canada-invests-10-million-to-support-green-innovators-across-southwestern-ontario.html