Feddev ontario investing in business innovations
CNW/ - Today, the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, announced a $6 million investment. Investing in Business Innovation Investor Requirement (cont.): • Angel or venture capital investor must be prepared to submit a report to FedDev Ontario. Investing in Business Innovation – New FedDev Program · Amount: Repayable loan up to $1M with 33% contribution from federal government based on a. MULTI FAMILY PROPERTY INVESTING AUSTRALIA
With this investment, IWE will offer a full spectrum of first-in-Canada training and other programming to support the upskilling of 1, automobility entrepreneurs and scaling firms. Tailored to the needs of start-ups and scale-ups in the automobility ecosystem, with a focus on electric vehicles EV , connected and autonomous vehicles CAV , and cyber security firms, this support will help entrepreneurs to accelerate the commercialization of their technologies while positioning the region as a hub for automobility innovation and investment.
It is this type of innovation and action that will help Canada achieve its plan for a green recovery that fights climate change and builds a net-zero economy by investing in world-leading technologies that make industry cleaner. Our government is committed to advancing the world-class automobility innovation cluster in the region, while doing what is necessary to accelerate the transition to net zero future.
We continue to make investments to create jobs, help Canada build capacity and stay at the forefront of technology as we build back better. Capitalizing on our location advantages, highly skilled workforce and growing automobility sector, this funding will continue to encourage diversification and continued prosperity in Windsor-Essex.
This automobility project does precisely that, and I commend FedDev Ontario for its support and investment. Clair students and faculty in potentially dozens of programs have the potential to make research and development contributions to what could be one of the most important economic advancement initiatives to occur in our community in recent memory. For Martello, receiving support through funding initiatives like IBI increases the potential to thrive and helps develop partnerships with business and investors that will drive us to become market leaders.
With the Martello offices located in the heart of Kanata-North, we have access to an exceptional pool of skilled and talented employees. At Martello in the past few years we have worked hard and experienced huge growth. Going global is critical to our successful growth. By accelerating the development of our SaaS, this investment also allows us to expand our reach into new global markets.
We are currently working in 20 countries around the globe and the funding from FedDev Ontario has had a direct impact on the expansion of our current export markets.
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Story continues Additional details related to BioCreate and the application process can be found here. The Government of Canada is committed to supporting innovation in this important sector to help SMEs grow and commercialize technologies and improve the well-being of Canadians, create quality jobs, and boost Canada's economy.
Quotes "Supporting Canadian innovators is a priority for the Government of Canada and today's investment in Ontario Genomics and the BioCreate Program will provide Canadian genomics companies within the health, food and agriculture and cleantech sectors with access to the tools, mentorship and lab space they need for growth and success.
This program will create highly skilled jobs across Southern Ontario and help secure Canada's place as a global leader in research and innovation. This project will support the development of a healthy pipeline of high-potential start-up companies in health, agri-food and cleantech sectors, and create and maintain up to highly skilled jobs across southern Ontario.
Engineering or synthetic biology is a convergence of genomics and molecular biosciences with computing, automation, miniaturization, artificial intelligence AI , and the application of engineering principles to biological systems. Southern Ontario businesses with private funding that require additional cash flow can use IBI to help accelerate late-stage development and early-stage commercialization activities.
Early-stage businesses who have already received private funding investments should consider seeking Investing in Business Innovation repayable funding to increase their cash flow and further accelerate their growth activities. Below, you can find the answers to our most frequently received questions.
The remaining balance of project funding must be paid by the business in cash contributions, since in-kind contributions are not accepted through Investing in Business Innovation repayable small business funding. What projects are eligible under IBI? Investing in Business Innovation will fund a wide range of projects, including: Early-stage commercialization of innovative products and processes; Business development projects including high-performance team building, improving governance and investment readiness, and adopting best-practices for management ; Late-stage product development including market diversification and growth strategies, customer development, and market development ; and Development and implementation of distribution strategies.
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