Today, 12 companies were selected to receive non-repayable contributions of up to $20,000 from WEtech Alliance, in partnership with Boundless Accelerator, through Cohort Four of the 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. It provides 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 driving sustainable and circular economy growth in Canada. Supported by a $5.2 million Government of Canada investment for Boundless Accelerator, 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): Boundless Accelerator, Innovate Niagara, Innovation Factory, Launch Lab, TechAlliance of Southwestern Ontario, and WEtech Alliance.
“Since its inception, the i.d.e.a Fund has made a profound impact, empowering over 310 innovative businesses across southern Ontario with up to $8.6 million in seed funding, targeted mentorship, and expert support to develop greener products, services, and technologies,” says WEtech Alliance President and CEO Yvonne Pilon. “We look forward to supporting Cohort Four as they leverage the program’s catalytic resources to scale their impact, drive economic growth, and leave a lasting mark on southern Ontario’s transition to a circular, sustainable economy.”
“Canada’s future depends on bold innovation and sustainable economic growth,” said the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario. “The work of the i.d.e.a. Fund and Regional Innovation Centre partners is helping southern Ontario’s entrepreneurs commercialize clean technologies and adopt sustainable practices. These investments are strengthening our communities, protecting our environment, and positioning Canada as a global leader in clean growth.”
The WEtech Alliance-supported companies in Cohort Four are:
To learn more about the i.d.e.a. Fund and the WEtech Alliance-supported companies in Cohort 4, visit wetech-alliance.com/idea.
Quick Facts
- Across southern Ontario, 75 companies have been selected to participate in Cohort Four of the i.d.e.a. Fund and will collectively receive non-repayable contributions of up to $1,485,000 https://www.idea-fund.ca/cohort-4-recipients/.
- To date, the i.d.e.a. Fund™ has supported nearly 390 businesses since its inception in 2022.
- WEtech Alliance is a Regional Innovation Centre in Windsor, Ontario, that works to foster entrepreneurship and the commercialization of innovations to help build globally competitive companies in the region.
- Regional Innovation Centres (RICs) help Ontario’s early-stage entrepreneurs succeed by offering mentorship, market intelligence, and connecting them to funding resources to help innovators work through the challenges of developing their ideas to make them marketable.
