Kingston and the Islands Member of Parliament (MP) Mark Gerretsen was in Innovation Park to announce a considerable funding from the federal authorities to help “early-stage cleantech firms in southern Ontario.”
Gerretsen made the announcement at the moment, Thursday, Jul. 21, 2022, on behalf of the Honourable Helena Jaczek, Minister accountable to the Federal Financial Improvement Company for Southern Ontario (FedDev Ontario). Particularly, Gerretsen introduced an over $2.5 million funding for GreenCentre Canada, situated right here in Kingston and in Mississauga, to “assist companies within the cleantech sector commercialize their merchandise, scale-up their companies and create jobs in southern Ontario,” in response to a press launch from FedDev Ontario. The funding comes from the Jobs and Development Fund.
The funding is a non-repayable contribution, geared toward addressing “the necessity for clear know-how.” As that want grows, Canada’s cleantech sector is increasing with “modern concepts which might be able to be put to the check,” the federal authorities stated.
“That’s the reason the Authorities of Canada is dedicated to supporting development on this necessary sector that may create useful applied sciences and good jobs for Canadians,” FedDev Ontario said.
Gerretsen stated, “By help for GreenCentre Canada’s Advance-ON program, the Authorities of Canada is supporting the transition to a clear, inexperienced economic system. At this time’s funding displays our dedication to serving to native innovators succeed and to the equal participation of underrepresented teams in our economic system.”
The funding is meant to permit GreenCentre Canada to ship the Advance-ON program: a mix of entry to specialised laboratory gear and technical specialists for early-stage cleantech firms able to commercialize their applied sciences and broaden their companies. In keeping with FedDev Ontario, the businesses chosen for this system will every have a plan “tailor-made to deal with their particular must speed up their product and course of developments.”
By the funding, GreenCentre Canada will help as much as 30 small-to-medium-sized enterprises (SMEs), help 650 jobs – 350 throughout the venture interval and 300 extra inside two years of the venture’s completion – and leverage virtually $400,000 in personal sector funding, FedDev Ontario asserted.
Members may even obtain enterprise advisory helps by way of subject material specialists like chemists, chemical engineers, and specialists that may assist them with product improvement and commercialization actions. This may assist entrepreneurs get their merchandise to market sooner, the federal government defined.
“GreenCentre Canada thanks FedDev Ontario for his or her dedication to serving to high-potential firms develop and make important contributions to the Canadian economic system. Our group is uniquely positioned to deploy its assets, community of relationships, and experience to assist these firms de-risk and finally scale up their modern applied sciences,” stated Andrew Pasternak, Government Director of GreenCentre Canada.
GreenCentre Canada, based in 2009, is a not-for-profit group providing distinctive companies by way of technical specialists and specialised laboratories, all geared toward supporting the expansion of sustainable chemical and superior supplies firms in advancing improvements to the market. In keeping with FedDev Ontario, GreenCentre Canada has leveraged authorities funding to help over 130 Canadian SMEs, which have since raised over $1 billion and created greater than 700 jobs since 2014.
Now, by way of Advance-ON, GreenCentre Canada may even concentrate on supporting and prioritizing underrepresented teams within the cleantech sector and figuring out and supporting firms creating clear applied sciences that would profit Indigenous communities, the federal authorities stated.
“The target of our Advance-ON program is to speed up the commercialization of unpolluted applied sciences in southern Ontario to allow them to quickly profit each the surroundings and [the] Canadian economic system,” stated Pasternak.
Purposes for Advance-ON are at present being accepted. Begin-ups integrated on or after January 1, 2020, are inspired to use. Further particulars associated to this system and the applying course of might be discovered on the Advance-ON web site.
For extra info on GreenCentre Canada, go to their web site.
The precise quantity of the contribution is “as much as $2,568,188,” in response to FedDev Ontario.