September 5, 2024 – Hamilton & Halton, Ontario – Southern Ontario’s diverse network of promising entrepreneurs and businesses fuels Canada’s potential as a leader in clean technology. This is why the i.d.e.a. Fund was launched in 2022, and has provided support for nearly 245 businesses focused on green technology and clean innovation to succeed through access to capital and mentoring to commercialize innovative technologies.
Yesterday, on behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Lloyd Longfield, Member of Parliament for Guelph, announced Government of Canada support towards the continuation of the i.d.e.a. Fund, while visiting Boundless Accelerator in Guelph, Ontario.
As part of a larger $5.2 million-investment for Boundless Accelerator, delivered by FedDev Ontario, this support will enable i.d.e.a. Fund to launch a third cohort of its important programming, in partnership with five Regional Innovation Centres (RIC) partners: Innovation Factory, Innovate Niagara, LaunchLab, TechAllliance of Southwestern Ontario and WEtech Alliance. This new intake will provide up to 145 companies across Ontario with access to business support and seed funding to develop and/or re-design green products, services, processes and technologies to reduce their environmental footprint.
As part of this partnership, Innovation Factory will lead on delivering the i.d.e.a. Fund in the Brant, Halton, Hamilton, and Norfolk regions. Innovation Factory will help to provide eligible clean-tech businesses in the region with advisory services and non-repayable contributions of up to $20,000 to contribute to the growth and expansion of clean-tech and circular economy solutions.
Application intake for the third cohort will open on September 9, 2024. For more information, including how to apply, visit the i.d.e.a. Fund website.
Quotes
“Our government is making investments in clean growth businesses so entrepreneurs can unlock their full potential. In collaboration with Boundless Accelerator, Innovation Factory is helping to deliver the i.d.e.a. Fund in the Hamilton and Burlington areas. This initiative will help create jobs, strengthen our local economy and support a resilient southern Ontario as we continue to transition to a greener, more innovative Canadian economy.”
The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
“At Innovation Factory, we’re excited to continue advancing clean-tech innovation through the i.d.e.a. Fund. With the support of the Government of Canada, this initiative strengthens a vibrant ecosystem of innovation. By providing new companies with crucial advisory services, mentorship and non-repayable contributions, we are advancing the development of sustainable technologies and driving economic impact.”
David Carter — CEO, Innovation Factory
Associated links
- Boundless Accelerator launches the Southern Ontario Environmental Impact Fund
- i.d.e.a. Fund
- Innovation Factory
- FedDev Ontario
Contacts
Jennifer Gauvreau
Director, Marketing
Innovation Factory
[email protected]
905-802-7308
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.
