Eligible businesses will receive business advisory services and up to $30,000
Southwestern Ontario has a rich and diverse hub of promising early-stage technology companies with innovative solutions to be commercialized to continue Canada’s transition to a green economy.
That is why TechAlliance of Southwestern Ontario is pleased to partner with Innovation Guelph to deliver the Government of Canada-supported i.d.e.a. Fund, a southwestern Ontario-focused initiative to help clean growth firms unlock their potential and access the capital and mentoring needed to commercialize innovative technologies.
Participating businesses (that apply and are accepted to receive support through the Fund) will be provided with seed funding as well as wrap-around support that includes access to specialized expertise and business strategies.
On April 29, the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced a non-repayable investment of $10 million for Innovation Guelph to partner with five southwestern Ontario Regional Innovation Centres (RICs): Haltech, Innovate Niagara, Innovation Factory, TechAlliance of Southwestern Ontario and WEtech Alliance to deliver the Fund.
The fund will support 240 businesses in key sectors connected to the green economy, including agri-innovation, cleantech, and advanced manufacturing, to create and maintain 840 jobs, and commercialize 135 new products, services, processes, and technologies.
As part of this partnership, TechAlliance of Southwestern Ontario will lead on delivering the Fund in London, Middlesex County, Lambton County, Elgin County, Oxford County, and Huron County. TechAlliance of Southwestern Ontario will help to provide eligible businesses in the region with advisory services and non-repayable contributions of up to $30,000 to provide the working capital needed to support commercialization efforts and growth. This support will assist firms from across the region’s urban and rural communities bring their technologies to market.
For additional details and eligibility criteria, visit TechAlliance.ca/Idea-Fund.
Quotes
“The i.d.e.a. Fund is an opportunity to stand behind our commitment to equity and sustainability by supporting founders who truly embody these values. We are thrilled to partner with Regional Innovation Centres across the province to pair industry expertise and financial support for founders and their teams with world-changing ventures. We welcome bold ideas to our innovation community and recognize the importance of diversity in our ecosystem, making impactful change, and working toward a sustainable ecosystem across Southwestern Ontario.”
Christina Fox
Chief Executive Officer, TechAlliance of Southwestern Ontario
“The Government of Canada is making smart investments to build a greener and more innovative Canadian economy. Today’s investment in Innovation Guelph and the i.d.e.a. Fund will provide 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
“As we continue to build a green and sustainable economic recovery that will create even more well‑paying jobs, our government is supporting projects that will help us reach our goal of a cleaner, greener economy. In collaboration with Innovation Guelph, TechAlliance is helping to deliver the i.d.e.a. Fund to support London businesses and entrepreneurs to grow our local economy and deliver a greener future.”
Peter Fragiskatos
Member of Parliament for London North Centre
Arielle Kayabaga
Member of Parliament for London West
“As London’s economy continues to transform, support for green innovation is more important than ever, and local businesses require the right tools to adapt. Delivered by TechAlliance, i.d.e.a. Fund will supply a financial boost and invaluable expertise to those such innovators, strengthening and diversifying our community.”
Josh Morgan
Acting Mayor, City of London
“The i.d.e.a Fund will help our Sarnia-Lambton businesses through sustainable innovation and extend an opportunity for a diverse pool of home-grown entrepreneurs to access critical funding and business advice.”
Mike Bradley
Mayor, City of Sarnia
“Supporting local businesses strengthens the backbone of our economy in St. Thomas. Through this partnership, innovation will lead the way to sustainability and equity.”
Joe Preston
Mayor, City of St. Thomas
“Engaging with local businesses and putting support behind green innovation will propel Oxford County into a healthy economy, mindful of our community’s future and the future of innovators yet to come.”
Connie Lauder
Acting Mayor, City of Woodstock
“I am pleased to support the unique, local entrepreneurs in Strathroy-Caradoc as they flourish. Coming together to champion green innovation and our distinct businesses starts with commitment to our most progressive innovators and their passion for change.”
Joanne Vanderheyden
Mayor, The Municipality of Strathroy-Caradoc
“Balance and inclusivity remain key pillars in moving our economy progressively forward. It is time to advise our green-focused entrepreneurs in Huron County and give them the resources which they need to succeed.”
John Grace
Mayor, Town of Goderich
Associated Links
- Government of Canada invests $10 million to support green innovators across southwestern Ontario
- i.d.e.a. Fund
- TechAlliance of Southwestern Ontario
- FedDev Ontario
Contacts
Karen Chalmers
Senior Director, Brand & Engagement
TechAlliance of Southwestern Ontario
519.870.2384
karen.chalmers@techalliance.ca
Monica Granados
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
monica.granados@feddevontario.gc.ca
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.
About FedDev Ontario
For more than 12 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 jobs, innovation and growth in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative.