FedNor investment supports business innovation in Greater Sudbury – Canada.ca

Investment of $418,500 to help innovative start-up and high-growth firms commercialize new technologies and create 30 full-time jobs in the region  

March 17, 2022 – Sudbury, ON – Federal Economic Development Agency for Northern Ontario – FedNor

Innovation accelerators help Canada’s most promising start-up and high-growth firms establish themselves and gain access to mentorship, financing and other assistance to fast-track the commercialization of new products, increase productivity and create middle-class jobs. In Northern Ontario, the Government of Canada, through FedNor, is working closely with its community partners to create employment, fuel business growth and accelerate research and development in key sectors of the economy.

Today, Viviane Lapointe, Member of Parliament for Sudbury, announced that NORCAT will receive $418,500, through FedNor, to extend its highly successful Innovation Acceleration Program until 2025. Marc G. Serré, Member of Parliament for Nickel Belt and Parliamentary Secretary to the Minister of Official Languages, was also on hand for the announcement, which was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor.

NORCAT’s Innovation Acceleration Program will help high-tech businesses in Greater Sudbury improve productivity and competitiveness through the use of innovative technologies, processes or practices. Eligible companies can receive up to $10,000 in non-repayable funding for services or direct costs for innovation-related product development, such as software and application development, product testing and certification. This third phase of the program is expected to support 8 business start-ups and the modernization or expansion of an additional 12 local firms. Once complete, this three-year initiative will lead to the creation of 30 jobs, 3 new services and 18 new products or technologies, 10 of which will be commercialized.

Northern Ontario has been hard hit by COVID-19 and today’s announcement is further proof of the Government of Canada’s commitment to support innovative entrepreneurs, businesses and start-ups so they can overcome the impacts of COVID-19, ramp up quickly and fully participate in our economic recovery.