TechAlliance of Southwestern Ontario provides 20 companies with $600,000 through Cohort 1 of Government of Canada-funded i.d.e.a. Fund
LONDON, ON. AUGUST 4, 2022
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 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, 20 companies received non-repayable contributions totalling $600,000 from TechAlliance of Southwestern Ontario.
The TechAlliance supported companies in Cohort 1 are:
- Adaptis Technologies Inc.
- Apricotton Inc.
- Carmina de Young Fashion Inc.
- ChargerQuest Inc.
- Electric Vehicle Network
- Haggerty AgRobotics Company Ltd.
- Kabo Labs Inc.
- OCI Vacuum Microengineering Inc.
- Peacasa Snacks
- Polar Imaging Inc.
- RideShark Corporation
- SoilOptix Inc.
- Speak Ai
- Terra Optima Labs
- Top Shelf Canada Inc.
- Wilma Technologies Inc.
Applications for Cohort 2 of the i.d.e.a. Fund will open in March 2023. For additional details and eligibility criteria, visit: https://techalliance.ca/idea-fund/
“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.”
— The Honourable Helena Jaczek
Minister responsible for the Federal Economic Development Agency for Southern Ontario
“The i.d.e.a. Fund is an opportunity to stand behind some of Ontario’s most promising startups and fastest growing companies who are committed to equity and sustainability. We are thrilled to welcome the first cohort of i.d.e.a. Fund, providing them with unique industry expertise and financial support. TechAlliance recognizes the importance of the cohort’s potential within our innovation corridor, and we can be counted on to amplify the growth of bold ventures our tech community, working toward a sustainable ecosystem across Southwestern Ontario.”
— Christina Fox
Chief Executive Officer, TechAlliance of Southwestern Ontario
- 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: Haltech (Halton Region), Innovate Niagara, Innovation Factory (Hamilton), TechAlliance of Southwestern Ontario (London, Oxford, Middlesex, Elgin, Lambton and Huron) 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.
- TechAlliance i.d.e.a. Fund Portal
- TechAlliance of Southwestern Ontario
- i.d.e.a Fund
- FedDev Ontario
- Jobs and Growth Fund (JGF)
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
TechAlliance of Southwestern Ontario
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 TechAlliance of Southwestern Ontario
We are the place for dreamers, innovators, and world-changing ideas. We empower world-class ventures and fuel growth in Canada’s innovation economy. We do this collaboratively by championing, coaching, and amplifying businesses, fostering a vibrant technology community of innovators. Funded by the Government of Ontario, Regional Innovation Centres help Ontario-based innovators and entrepreneurs clear commercialization hurdles – accelerating the growth of companies so that they can compete and succeed globally and create high quality jobs in our province. Explore Southwestern Ontario’s innovation economy via our website and connect with us on Twitter, LinkedIn, and Instagram.