August 4, 2022 Windsor, Ontario
Companies in southern Ontario that focus on environmental impacts are vital to creating jobs and bringing new, innovative technologies to market that continue Canada’s transition to a green economy. The i.d.e.a. Fund was developed to help clean growth firms have the tools they need to succeed by providing financial and business advisory supports to develop or redesign green products, services, processes and technologies that reduce impacts to our environment and create made-in-Canada climate change solutions.
The Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), provided Innovation Guelph with $10 million to lead the delivery of the i.d.e.a Fund in partnership with five Regional Innovation Centres (RICs) across southwestern Ontario. Up to 240 high-potential clean growth companies will receive support through Cohorts 1 and 2 of the i.d.e.a. Fund.
Today, 19 companies received non-repayable contributions totalling $567,700 from WEtech Alliance, in partnership with Innovation Guelph, through the Government of Canada-supported i.d.e.a Fund.
The WEtech Alliance-supported companies in Cohort 1 are:
President & CEO, WEtech Alliance
“Today’s announcement is an example of what can be accomplished when industry and government work together to accelerate the evolution to a green, net-zero future. Among the 19 successful projects announced, a wide variety of economic sectors will benefit including regional food production; renewable energy; transportation; telecommunications; healthcare; and manufacturing. Entrepreneurs are drivers of change and innovation and WEtech Alliance is proud to partner with FedDev Ontario and fellow Regional Innovation Centres to help shape a more inclusive, equitable and sustainable future for Windsor-Essex, Chatham-Kent and beyond.”
The Honourable Helena Jaczek
Minister responsible for the Federal Economic Development Agency for Southern Ontario
“The Government of Canada-funded i.d.e.a. Fund is providing 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.”
Director of Venture Services, WEtech Alliance
“In recent years, we have seen our entrepreneurial community rise to every occasion they have encountered. The challenges in front of them proved insignificant compared to the innovative thinking that drove them forward through adversity. Climate change is a challenge that our entire world faces, and once again, entrepreneurs and their ability to adapt will be a major key to the perseverance of our communities, our economy, and our country. It is an honour to assist in the delivery of these funds, and in the execution of the brilliant, equitable, and environmentally sustainable projects that make up the first cohort of this transformative program.”
- Across southern Ontario, approximately 120 companies received non-repayable contributions of up to $3,600,000 in Cohort 1.
- Led by Innovation Guelph, the fund is being delivered in partnership with five Regional Innovation Centres (RICs): Haltech (Halton Region), Innovate Niagara, Innovation Factory (Hamilton), TechAlliance of Southwestern Ontario (London) and WEtech Alliance (Windsor and Chatham-Kent).
- Fifty percent of the businesses receiving support through the fund will be owned or led by women and 30 percent owned or led by Indigenous peoples, persons with disabilities, Black communities, racialized communities and members of the LGBTQ2+ community.
About FedDev Ontario
For 13 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 innovation, growth and job creation 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 productivity, growing revenues, creating jobs, 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 pivotal projects, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.
About WEtech Alliance:
WEtech Alliance is one of seventeen Regional Innovation Centres, funded by the Province of Ontario, serving the Windsor-Essex and Chatham-Kent regions. They provide entrepreneurs with business services, training, mentorship and strategic connections to help bring new ideas to market, scale to the next level and build a dynamic culture and a community of innovation. WEtech Alliance has served as the catalyst for technology and innovation in the Windsor-Essex and Chatham-Kent regions since 2011. Learn more about WEtech Alliance by signing up for our Tech It Out newsletter, visiting our website, or by following us on Twitter, Facebook, Instagram and LinkedIn.
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