June 14, 2023 Windsor, Ontario
Today, 20 companies received non-repayable contributions of $600,000 from WEtech Alliance, in partnership with Innovation Guelph, through Cohort 2 of the Government of Canada-supported i.d.e.a Fund.
The i.d.e.a. Fund is a southern Ontario-focused initiative that was developed to help clean growth firms access 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 program fosters inclusion and diversity, with a focus on continuing Canada’s transition to a green economy. Supported by a $10-million Government of Canada investment through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the i.d.e.a. Fund is being delivered by six Regional Innovation Centres (RICs): Innovation Guelph, WEtech Alliance, Haltech, Innovate Niagara, Innovation Factory and TechAlliance of Southwestern Ontario.
“Business owners in southern Ontario are making incredible strides to promote green products and build a clean economy. The i.d.e.a. Fund offers financial and advisory support to entrepreneurs who are creating made-in-Canada solutions to our everyday problems,” said the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “The Government of Canada is happy to support the i.d.e.a. Fund as they work with the next generation of Canada’s entrepreneurs to enable them to reach their full potential.”
The WEtech Alliance-supported companies in Cohort 2 are:
To learn more about the i.d.e.a. Fund and the WEtech Alliance-supported companies in Cohort 2, visit wetech-alliance.com/idea.
- Across southern Ontario, 125 companies will receive non-repayable contributions of $3,750,000 in Cohort 2.
- In 2022, 117 companies received non-repayable contributions of $3,500,000 through 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.
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
Director of Venture Services
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.