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 made to help clean growth companies have the tools they need to succeed by providing financial and business 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 provided Innovation Guelph with $10 million to lead the i.d.e.a Fund in partnership with five Regional Innovation Centres 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, 20 companies received non-repayable contributions totalling $600,000 from TechAlliance of Southwestern Ontario.
“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.
The TechAlliance supported companies in Cohort 1 are:
-Adaptis Technologies Inc.
-Apricotton Inc.
-Carmina de Young Fashion Inc.
-ChargerQuest Inc.
-CondoWorks
-Electric Vehicle Network
-Haggerty AgRobotics Company Ltd.
-interVal
-Kabo Labs Inc.
-Marlow
-OCI Vacuum Microengineering Inc.
-Peacasa Snacks
-Polar Imaging Inc.
-RideShark Corporation
-SoilOptix Inc.
-Speak Ai
-Tenomix
-Terra Optima Labs
-Top Shelf Canada Inc.
-Wilma Technologies Inc.
“The i.d.e.a. Fund is an opportunity to stand behind some of Ontario’s most promising startups and fastest growing companies who are committed to equity and sustainability. We are thrilled to welcome the first cohort of i.d.e.a. Fund, providing them with unique industry expertise and financial support. TechAlliance recognizes the importance of the cohort’s potential within our innovation corridor, and we can be counted on to amplify the growth of bold ventures our tech community, working toward a sustainable ecosystem across Southwestern Ontario.” Christina Fox, Chief Executive Officer, TechAlliance of Southwestern Ontario.
Applications for Cohort 2 of the i.d.e.a. Fund will open in March 2023. For additional details and eligibility criteria, visit https://techalliance.ca/idea-fund/