INNOVATE NIAGARA
102-386 St. Paul Street
St. Catharines, ON L2R 3N2
News Release
For Immediate Release
September 4, 2024 St. Catharines, Ontario
Innovate Niagara continues partnership with Boundless Accelerator to deliver new cohort of the i.d.e.a. Fund
Government of Canada support helps drive clean-tech and circular growth in Niagara
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 succeed through access to capital and mentoring to commercialize innovative technologies.
Today, 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 new 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 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, Innovate Niagara will lead on delivering the i.d.e.a. Fund in Niagara. Innovate Niagara 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 will open on September 9, 2024. For more information, including how to apply, visit the i.d.e.a. Fund website.
Quotes
“Canada is ready to be a world leader in the green economy, and southern Ontario’s businesses and organizations are in a unique position to lead the way. The continuation of the i.d.e.a. Fund, Boundless Accelerator and its RIC partners will support clean-tech businesses across southern Ontario to commercialize innovative technologies while adopting new green processes to create sustainable economic growth for generations to come.”
- The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
“The Government of Canada, through FedDev Ontario, is investing in businesses and not-for-profit organizations in southern Ontario to create quality jobs and long-term growth in their communities. This investment in the continuation of the i.d.e.a. Fund will help Innovate Niagara strengthen our local economy, and support a resilient, green future for Niagara residents.”
- Chris Bittle, Parliamentary Secretary to the Minister of Housing, Infrastructure and Communities, and Member of Parliament for St. Catharines
“Innovate Niagara is pleased to partner with Boundless Accelerator, WEtech Alliance, Innovation Factory, Tech Alliance of Southwestern Ontario and Launchlab to deliver the Government of Canada supported i.d.e.a. Fund. This program will promote inclusion and diversity in Niagara while contributing to a green recovery in Ontario. We encourage all eligible companies in Niagara to apply for i.d.e.a. Fund to receive non-repayable seed funding of up to $20,000 with matching funds and up to 30 hours of fully funded mentorship from executive-level mentors.”
- Jeff Chesebrough, Chief Executive Officer, Innovate Niagara
Associated Links
- Boundless Accelerator launches the Southern Ontario Environmental Impact Fund
- i.d.e.a. Fund
- Innovate Niagara
- FedDev Ontario
Contacts
Chris Janzen
Director of Client Services, Innovate Niagara
cjanzen@innovateniagara.com
Edward Hutchinson
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
Edward.Hutchinson@feddevontario.gc.ca
About Innovate Niagara
As a non-profit and one of Ontario’s designated Regional Innovation Centres, Innovate Niagara helps innovation-based companies start, grow, and succeed. We offer free services, including expert business advice, tailored programs, funding opportunities, market intelligence, and workshops. Since 2011, we’ve supported over 1,350 clients, secured more than $109.5 million in funding, and provided extensive consulting and training sessions. Learn more here.
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.