$ 1.2 Million to Expand McMaster University’s The Forge Incubator, Double New Businesses Supported and Create 75 Jobs
December 14, 2018 – Hamilton, Ontario
Encouraging creativity, innovation and entrepreneurship helps transform and grow our economy. That’s why the Government of Canada, through FedDev Ontario, is providing up to $ 1.2 million to McMaster University to expand its open laboratory, a collaborative space where entrepreneurs can access advanced equipment to design and manufacture new and innovative products.
The Honorable Filomena Tassi, Minister of Seniors and Member of Parliament for Hamilton West-Ancaster-Dundas, made the announcement today on behalf of the Honorable Navdeep Bains, Minister of Innovation, Science and Economic Development. and Minister responsible for FedDev Ontario.
This funding will allow The Forge, McMaster University’s business incubator, to expand its open laboratory by installing it in a 10,000-square-foot space shared with its Innovation Factory partner. It will also be able to purchase additional 3D printers and other manufacturing tools, and help entrepreneurs through mentoring. As a result, the number of businesses supported will almost double, from 24 to 40 per year, and a potential 75 new jobs will be created.
The Forge expansion strengthens McMaster’s entrepreneurial ecosystem and its reputation as a leader in the creation of innovative manufacturing assets, including the McMaster Innovation Park, home of the McMaster Automotive Resource Center (MARC) and the Center for Biomedical Engineering and Advanced Manufacturing (BEAM).
The Government of Canada recognizes the contribution FedDev Ontario is making to ensure that businesses, organizations and communities in southern Ontario can seize the new opportunities created by an innovation-driven economy. Earlier this week, FedDev Ontario launched new funding streams for which it is now accepting applications. It is therefore possible to submit new projects through one application form under three streamlined funding streams to meet the needs of our innovators and job creators. For more information (including how to apply), visit www.FedDevOntario.gc.ca.