December 13, 2024 London, Ontario 

Today, 12 companies received non-repayable contributions of $20,000 from TechAlliance, in partnership with Boundless Accelerator, through Cohort 3 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. 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-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. 

“The i.d.e.a. Fund is an opportunity for TechAlliance to continue to activate our deep commitment to equity and sustainability in Southwestern Ontario,” said Christina Fox, CEO of TechAlliance of Southwestern Ontario. “For a third year, we are thrilled to partner with Boundless Accelerator and peer Regional Innovation Centres across the province to pair industry expertise and non-dilutive investment to these promising 12 companies and their world-changing ventures.” 

“Canada is ready to be a world leader in the green economy, and southern Ontario’s businesses and organizations are in a unique position to lead the way,” said the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “Through the i.d.e.a. Fund, Boundless Accelerator and its partners are supporting businesses across southern Ontario to commercialize innovative technologies, while adopting new green processes to create sustainable economic growth for generations to come.” 

“Our government is making investments in clean growth firms so they can unlock their full potential. In collaboration with Boundless Accelerator, TechAlliance is helping to deliver the i.d.e.a. Fund in London and the surrounding region,” said Peter Fragiskatos, Parliamentary Secretary to the Minister of Housing, Infrastructure and Communities and Member of Parliament for London North Centre. “This will help create jobs, strengthen our local economy and support a resilient southwestern Ontario as we continue to transition to a greener, more innovative Canadian economy.”  

The TechAlliance-supported companies in Cohort 3 are: 

To learn more about the i.d.e.a. Fund, visit https://www.techalliance.ca/i-d-e-a-fund/. 

Quick Facts

  • Across southern Ontario, 73 companies will receive non-repayable contributions of $1,460,000 in Cohort 3 https://www.idea-fund.ca/cohort-3-recipients/. To date, the i.d.e.a. Fund has supported nearly 320 businesses. 
  • TechAlliance is a Regional Innovation Centre in London, 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, connecting them to funding resources and help innovators work through the challenges of developing their ideas to make them marketable. 

Associated Links

Contacts

Farida Abdelnabi       
Communications Manager, Brand & Engagement       
TechAlliance of Southwestern Ontario       
647.676.2461       
farida.abdelnabi@techalliance.ca  

Edward Hutchinson
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
edward.hutchinson@feddevontario.gc.ca 

About TechAlliance

Headquartered in London, Ontario – one of the top ten emerging tech markets in North America, TechAlliance is the lead voice for the most promising startups and highest potential scaling companies in Southwestern Ontario. Home to a concentration of made-in-Canada unicorns, and supporting pathways to capital, customers and talent, TechAlliance empowers world-class ventures and fuels growth in Canada’s innovation economy by supporting founders and ventures at every stage of the entrepreneurial journey. As the place for dreamers, innovators and world-changing ideas, TechAlliance fosters a vibrant tech community for founders, industry leaders, tech talent and capacity builders, and champions and coaches entrepreneurs, amplifies and impacts businesses across the region. 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. TechAlliance is also funded in part by the Government of Canada, the City of London and private sector investment.   

About FedDev Ontario 

For 15 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 investment profiles, our Southern Ontario Spotlight, and FedDev Ontario’s X, Facebook, Instagram and LinkedIn. 

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