Government of Canada support helps drive clean-tech and circular growth in Southwestern Ontario.
Southern Ontario’s diverse network of promising entrepreneurs and businesses fuels Canada’s potential as a leader in clean technology. This is why the i.d.e.a. Fund was launched in 2022, and has provided support for nearly 245 businesses focused on green technology and clean innovation succeed through access to capital and mentoring to commercialize innovative technologies.
Today, on behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Lloyd Longfield, Member of Parliament for Guelph, announced Government of Canada support towards the continuation of the i.d.e.a. Fund, while visiting Boundless Accelerator in Guelph, Ontario.
As part of a larger $5.2 million-investment for Boundless Accelerator, delivered by FedDev Ontario, this support will enable i.d.e.a. Fund to launch a new cohort of its important programming, in partnership with five Regional Innovation Centres (RIC) partners: Innovation Factory, Innovate Niagara, LaunchLab, TechAllliance of Southwestern Ontario and WEtech Alliance. This new intake will provide companies across Ontario with access to business support and seed funding to develop and/or re-design green products, services, processes and technologies to reduce their environmental footprint.
As part of this partnership, TechAlliance will lead on delivering the i.d.e.a. Fund in Southwestern Ontario. TechAlliance will help to provide eligible clean-tech businesses in the region with advisory services and non-repayable contributions of up to $20,000 to contribute to the growth and expansion of clean-tech and circular economy solutions.
Application intake will open on September 9, 2024. For more information, including how to apply, visit the i.d.e.a Fund website.
Quotes
“Our government is making investments in clean growth firms so they can unlock their full potential. In collaboration with Boundless Accelerator, TechAlliance is helping to deliver the i.d.e.a. Fund in London and the surrounding region. This will help create jobs, strengthen our local economy and support a resilient southwestern Ontario as we continue to transition to a greener, more innovative Canadian economy.”
– Peter Fragiskatos, Parliamentary Secretary to the Minister of Housing, Infrastructure and Communities and Member of Parliament for London North Centre
“Launching our next round of the i.d.e.a. Fund marks our third consecutive year of collaborating with FedDev Ontario and other key ecosystem partners in the region to support the most promising startups and highest potential clean growth companies who are committed to equity and sustainability. TechAlliance remains dedicated to ambitious, forward-thinking ventures, offering bespoke advisory services and non-dilutive capital investment necessary for Southwestern Ontario companies to thrive.”
– Christina Fox, CEO, TechAlliance of Southwestern Ontario
“Canada is ready to be a world leader in the green economy, and southern Ontario’s businesses and organizations are in a unique position to lead the way. The continuation of the i.d.e.a. Fund, Boundless Accelerator and its RIC partners will support clean-tech businesses across southern Ontario to commercialize innovative technologies while adopting new green processes to create sustainable economic growth for generations to come.”
– The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
