Innovative businesses in southern Ontario focused on environmental impacts are receiving significant support from the federal government’s Ideas Fund, to the tune of $567,700.
The Idea Fund was created to help “clean growth” businesses grow and succeed through financial and business support to develop green products and services that reduce environmental impacts.
FedDev Ontario is providing about $10 million to help 240 businesses through the fund, including 17 Windsor-Essex-based businesses.
“The Ideas Fund funded by the Government of Canada provides Canadian entrepreneurs and businesses with the support they need to produce innovative solutions that continue Canada’s transition to a green economy,” said Helena Jaczek, Minister responsible for the Southern Ontario Economic Development Agency. “This investment will create good, secure jobs for Canadians, protect Canadian supply chains, and ensure that the Canadian economy is positioned to be a global leader, now and in the future.
The companies that will receive funding under this phase of the project are:
- Advanced Hi-Tech Center Ltd.
- Affinity Custom Designs Inc.
- CanGro AgriFoods Inc.
- Cedar Valley Selections Inc.
- DC Farms
- DockShield Inc.
- Port technologies
- IdeaCuria Inc.
- IPM Scoutek
- Metra Signs Inc.
- Intermediate Research Inc.
- ONtech Rapid Coatings Inc.
- Ortaliza Urban Farms
- REEL Overview
- Shantz Ag Products Ltd.
- TDL Systems Inc.
- THREESEVEN Consulting Services Inc.
- WaveDirect Telecommunications
“Today’s announcement is an example of what can be accomplished when industry and government work together to accelerate the evolution towards a green and net zero future,” said Yvonne Pilon, President and CEO of the management of WEtech Alliance.
Pilon says businesses in a wide variety of economic sectors stand to benefit from the funding, including regional food production, renewable energy, transportation, telecommunications, healthcare and manufacturing.
“Entrepreneurs are drivers of change and innovation and WEtech Alliance is proud to partner with FedDev Ontario and other regional innovation centers to help shape a more inclusive, equitable and sustainable future for Windsor-Essex. , Chatham-Kent and beyond,” Pilon said.
Adam Castle, director of venture capital services for WEtech Alliance, says the challenges these small businesses have faced in recent years have been overcome through innovative thinking.
“Climate change is a challenge facing our entire world, and again, entrepreneurs and their ability to adapt will be a major key to the perseverance of our communities, our economy and our country,” Castle said. . “It is an honor to help distribute these funds and execute the brilliant, equitable and environmentally sustainable projects that make up the first cohort of this transformative program.”