December 13, 2024 – Hamilton & Halton, Ontario // Today, 13 innovative companies received non-repayable contributions of $20,000 from Innovation Factory, 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.
“By supporting this new group of clean technology innovators, we are investing in the future of a sustainable Canadian economy,” said David Carter, CEO of Innovation Factory. “Through the i.d.e.a. Fund, we’re equipping the 13 businesses announced today with the funding and mentorship they need to scale their technologies into impactful climate solutions.”
“The Government of Canada is making investments in clean growth businesses so entrepreneurs can unlock their full potential,” 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 like Innovation Factory in Hamilton are providing these successful recipients with access to business support and seed funding to develop green products, services, processes and technologies to reduce their environmental footprint and support Canada’s clean technology sector.”
The Innovation Factory supported companies in Cohort 3 are:
- Concrete Flatwork Innovation
- AraMill Inc.
- AWAKE
- Cropinno
- EarthSuds
- Ettractive Inc.
- Niima
- TOMI
- Harvest Systems Inc.
- Infinite Harvest Technologies Inc.
- Jitto
- Tression
- Sleaks
To learn more about the i.d.e.a. Fund, visit innovationfactory.ca/idea-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.
- Innovation Factory is a Regional Innovation Centre in Hamilton, Ontario that works to foster entrepreneurship and the commercialization of innovations to help build globally competitive companies in the Hamilton 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
- Boundless Accelerator launches the Southern Ontario Environmental Impact Fund
- Innovation Factory i.d.e.a Fund
- i.d.e.a. Fund
- FedDev Ontario
Contacts
Jennifer Gauvreau
Director, Marketing
Innovation Factory
[email protected]
Edward Hutchinson
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
[email protected]
About Innovation Factory
Innovation Factory is a not-for-profit business accelerator, serving as the catalyst for technology innovation in the Brant, Halton, Hamilton and Norfolk regions since 2010. Innovation Factory provides business services, training, mentorship, and strategic connections to drive market adoption, leverage intellectual property, and increase revenues, investment, and jobs. Innovators can also access sector-specific resources including exclusive smart transportation test environments and data; and a formal life science and health innovation ecosystem.
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.
