Feds invests $2.5M in support of cleantech
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To assist SMEs in Southern Ontario commercialize products, scale-up
FedDev Ontario has announced a non-repayable contribution of over $2.5 million for GreenCentre Canada to help businesses in the cleantech sector commercialize their products, scale-up their businesses and create jobs in southern Ontario.
As the need for clean technology grows, the cleantech sector in Canada is expanding with innovative ideas that are ready to be put to the test. Start-ups encounter challenges gaining access to the resources and tools they need to succeed. That is why the Government of Canada is committed to supporting growth in this important sector that will create valuable technologies and good jobs for Canadians.
With this investment, GreenCentre Canada is delivering the Advance-ON program, which will provide a combination of access to specialized laboratory equipment and technical experts – to early stage clean tech companies that are ready to commercialize their technologies and grow their businesses. Each company selected will have a plan tailored to address their specific needs to accelerate their product and process developments. Through this Jobs and Growth Fund investment, GreenCentre Canada will assist up to 30 SMEs, support 650 jobs, 350 during the project period and an additional 300 within two years of project completion, and leverage almost $400,000 in private sector investment.
Participants will also receive business advisory supports from a network of subject matter experts such as chemists, chemical engineers and specialists that will help them with product development and commercialization activities that will help entrepreneurs get their products to market faster.