Innovation Guelph Provides 19 companies with $570,000 through Cohort 1 of Government of Canada-funded i.d.e.a. Fund
Innovation Guelph provides 19 companies with $570,000 through Cohort 1 of Government of Canada-funded i.d.e.a. Fund
August 4, 2022 Guelph, Ontario
Companies in southern Ontario that focus on environmental impacts are vital to creating jobs and bringing new, innovative technologies to market that continue Canada’s transition to a green economy. The i.d.e.a. Fund was developed to help clean growth firms have the tools they need to succeed by providing financial and business advisory supports to develop or redesign green products, services, processes and technologies that reduce impacts to our environment and create made-in-Canada climate change solutions.
The Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) provided Innovation Guelph with $10 million to lead the delivery of the i.d.e.a Fund in partnership with five Regional Innovation Centres (RICs) across southwestern Ontario. Up to 240 high-potential clean growth companies will receive support through Cohorts 1 and 2 of the i.d.e.a. Fund.
Today, 19 companies received non-repayable contributions totalling $570,000 through the Government of Canada-supported i.d.e.a Fund.
The Innovation Guelph-supported companies in Cohort 1 are:
- Black & Blue Foods Inc.
- Cabin Office Company
- Escarpment Labs
- Gomedics Health
- Henry’s Tempeh Inc
- Maison Apothecare
- Material Futures
- New Earth Solutions
- Psigryph Inc
- Springbay Studio Ltd.
- Terra Bio
- Wishing Well Services Ltd.
Applications for Cohort 2 of the i.d.e.a. Fund will open in March 2023. For additional details and eligibility criteria, visit https://innovationguelph.ca/i-d-e-a-fund/ .
“The Government of Canada-funded i.d.e.a. Fund is providing Canadian entrepreneurs and businesses with the support they need to produce innovative solutions that continue Canada’s transition to a green economy. 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 into the future.”
The Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario
“We received applications from many worthy and interesting companies; the selection was challenging. We’re excited to work with the 19 companies who are creating positive change and furthering FedDev Ontario’s objectives to support green innovators across southwestern Ontario.”
Alison Crumblehulme, CEO, Innovation Guelph
• Across southern Ontario, approximately 120 companies received non-repayable contributions of up to $3,600,000 in Cohort 1.
• Led by Innovation Guelph, the fund is being delivered in partnership with five Regional Innovation Centres (RICs): Haltech (Halton Region), Innovate Niagara, Innovation Factory (Hamilton), TechAlliance of Southwestern Ontario (London) and WEtech Alliance (Windsor and Chatham-Kent).
• Fifty percent of the businesses receiving support through the fund will be owned or led by women and 30 percent owned or led by Indigenous peoples, persons with disabilities, Black communities, racialized communities and members of the LGBTQ2+ community.
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
About FedDev Ontario
For 13 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 pivotal projects, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.
About Innovation Guelph
Innovation Guelph is building prosperity for community well-being by providing mentorship and business support programs and services to help innovative enterprises start, grow and thrive. Innovation Guelph’s business acceleration programs are designed for high-potential start-ups, small- to medium-sized enterprises and women-led businesses across southern Ontario. Innovation Guelph also serves as a one-stop point of access to business support programs and services across the province.