INNOVATE NIAGARA
102-386 St. Paul Street
St. Catharines, ON L2R 3N2
News Release
For Immediate Release
December 16, 2024 St. Catharines, Ontario
Innovate Niagara provides 12 companies with $240,000 through Cohort 3 of Government of Canada-funded i.d.e.a. Fund™
Government of Canada support helps drive clean-tech and circular growth in Niagara
Today, 12 companies received non-repayable contributions of $20,000 from Innovate Niagara in partnership with Boundless Accelerator, through Cohort 3 of the Government of Canada-supported i.d.e.a. Fund.
The i.d.e.a. Fund is a southern Ontario-focused initiative that was developed to help clean growth firms access the tools they need to succeed. It provides 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 program fosters inclusion and diversity, with a focus on driving sustainable and circular economy growth in Canada. Supported by a $5.2 million-investment for Boundless Accelerator through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the i.d.e.a. Fund is being delivered by six Regional Innovation Centres (RICs): Boundless Accelerator, Innovate Niagara, Innovation Factory, Launch Lab, TechAlliance of Southwestern Ontario, and WEtech Alliance.
“We’re excited to introduce 12 incredible companies selected for Cohort 3 of the i.d.e.a. Fund and support them as they bring their innovative technologies to life. Through the support of FedDev Ontario, we are excited to award $20,000 to these 12 innovative companies,” said Jeff Chesebrough, CEO of Innovate Niagara. “These investments will support the continued growth of the clean-tech and innovation ecosystem in Niagara and southern Ontario. At Innovate Niagara, we’re proud to be part of the i.d.e.a Fund program, contributing to the growth of Niagara and southern Ontario’s innovation ecosystem and driving positive change in our communities.”
“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,” said the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “Through the i.d.e.a. Fund, Boundless Accelerator and its partners are supporting businesses across southern Ontario to commercialize innovative technologies, while adopting new green processes to create sustainable economic growth for generations to come.”
“The i.d.e.a. Fund is helping Innovate Niagara support a resilient, green future here in Niagara and across Canada,” said Chris Bittle, Parliamentary Secretary to the Minister of Housing, Infrastructure and Communities, and Member of Parliament for St. Catharines. “The new cohort announced today will help to strengthen Canada’s potential as a leader in the clean technology sector and bring green innovations to market.”
The Innovate Niagara supported companies in Cohort 3 are:
- Botanical Symbiotics
- Khetibuddy Agritech Limited
- Magnestar Inc
- Mave and Chez
- Merq Inc
- MiON Forest
- NerView Surgical
- Shannon Passero Inc
- Swish
- The Bare Home
- Easework AI
- Drink Wild
To learn more about the i.d.e.a. Fund, visit https://www.innovateniagara.com/site/idea-fund
Quick Facts
- Across southern Ontario, 73 companies will receive non-repayable contributions of $1,460,000 in Cohort 3 https://www.idea-fund.ca/cohort-3-recipients/. To date, the i.d.e.a. Fund has supported nearly 320 businesses.
- Innovate Niagara is a Regional Innovation Centre in Niagara, Ontario that works to foster entrepreneurship and the commercialization of innovations to help build globally competitive companies in the Niagara region.
- Regional Innovation Centres (RICs) help Ontario’s early-stage entrepreneurs succeed by offering mentorship, market intelligence, connecting them to funding resources and help innovators work through the challenges of developing their ideas to make them marketable.
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
Innovate Niagara is a non-profit organization supporting tech-driven entrepreneurs and businesses across Ontario. As one of the province’s 17 Regional Innovation Centres and a proud member of Canada’s Tech Network, Innovate Niagara provides the expertise and resources needed for companies to thrive from idea development to market success. Through personalized mentorship from experienced advisors, access to critical market intelligence, and a suite of programs and events, Innovate Niagara empowers entrepreneurs with essential tools for growth. Since its founding in 2011, the organization has secured over $108 million in funding for client ventures, delivered more than 18,000 hours of consulting support, and conducted numerous training sessions, all aimed at fostering a vibrant and collaborative innovation ecosystem in Niagara and beyond. 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.