$1.2 million to expand McMaster’s The Forge, double the number of start-ups supported and create 75 jobs
Hamilton, ON – December 14, 2018 // Fostering creativity, innovation and entrepreneurship is helping to transform and grow our economy. That is why the Government of Canada, through FedDev Ontario, is providing McMaster University with up to $1.2 million to expand its makerspace, a collaborative area where entrepreneurs can access advanced equipment to design and build innovative new products.
The Honourable Filomena Tassi, Minister of Seniors and Member of Parliament for Hamilton West–Ancaster–Dundas, made the announcement today on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario.
This funding will allow The Forge, McMaster University’s start-up incubator, to expand its makerspace as it moves into 10,000-square-feet shared with partner Innovation Factory. It will also purchase additional 3D printers and other fabricating equipment, and increase support to entrepreneurs through mentoring. As a result, the number of companies supported will almost double from 24 to up to 40 annually, and up to 75 new jobs will be created.
The Forge’s expansion enhances McMaster’s entrepreneurial ecosystem and reputation as a leader in developing innovative manufacturing assets, in particular within the McMaster Innovation Park, which is also home to the McMaster Automotive Resource Centre (MARC) and the Centre for Biomedical Engineering and Advanced Manufacturing (BEAM).
The Government of Canada recognizes FedDev Ontario’s contribution to ensuring businesses, organizations and communities across southern Ontario are able to seize new opportunities created by an innovation economy. Early last week, FedDev Ontario launched new funding streams now open for applications. New projects can now be submitted, using a single application form, through three simplified funding streams that have been designed to meet the needs of our innovators and job creators. For more information, including how to apply, visit www.FedDevOntario.gc.ca.
Quotes
“Innovation is about new ideas and approaches that help to grow our economy. This expansion at The Forge strengthens collaborations within the McMaster Innovation Park, which drives entrepreneurship, boosts the economy and creates jobs in the region.”
— The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“FedDev Ontario’s funding is providing invaluable support to the innovation community in Hamilton. The Government of Canada is proud to support McMaster – one of Canada’s premier research-intensive universities – to expand The Forge’s makerspace and allow more companies to develop and bring new products to market.”
— The Honourable Filomena Tassi, Minister of Seniors, and Member of Parliament for Hamilton West—Ancaster—Dundas
“This strategic investment from the Government of Canada will strengthen the entrepreneurial capacity of our region by providing McMaster’s students and the wider Hamilton community access to the centralized expertise and infrastructure so essential for creating start-ups and business growth opportunities.”
— Karen Mossman, Acting Vice-President, Research, McMaster University, and Chair, McMaster Innovation Park Board of Directors
Quick facts
- Founded in 2014, The Forge is McMaster’s incubator and accelerator, providing entrepreneurs with business and advisory services as well as access to mentors and investors. To date, 105 tech companies have graduated from The Forge, with more than 300 employees hired and $20 million of private and public investment raised.
- Total project costs are $2.4 million, with $1.2 million through FedDev Ontario and $1.2 million through partners McMaster University, the McMaster Innovation Park, The Forge and Innovation Factory. This project builds on previous FedDev Ontario investments made in MARC in 2011 and in BEAM in 2016, enhancing McMaster’s entrepreneurial ecosystem.
- McMaster University is a collaborator on Canada’s Advanced Manufacturing Supercluster, which brings together small, medium and large companies, academic institutions and not-for-profit organizations to build on the innovation strengths of southern Ontario and drive advanced manufacturing in Canada.
Associated links
Contacts
Dani Keenan
Press Secretary
Office of the Minister of Innovation, Science and Economic Development
Tel.: 343-291-1710
