Innovate Niagara in partnership with Innovation Guelph has recently funded 19 companies with almost $550,000 in total funding through the Government of Canada funded program the i.d.e.a Fund.
The Fund was developed to help clean growth firms have the tools they need to succeed by providing 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 Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), provided Innovation Guelph with $10 million to lead the delivery of the i.d.e.a Fund in partnership with five Regional Innovation Centres (RICs) across southwestern Ontario. Up to 240 high-potential clean growth companies will receive support through Cohorts 1 and 2 of the i.d.e.a. Fund.
On August 4, 19 companies received non-repayable contributions of $547,619 from Innovate Niagara, in partnership with Innovation Guelph, through the Government of Canada-supported i.d.e.a. Fund. Notable Niagara companies included Bench Brewing Company, Intuitive Shipping, Caddle, Tailwind, Destiny Copper, Goldnote Corporation, and Enereau.
See the full list of Innovate Niagara-supported companies in Cohort 1 here
Applications for the 2022 i.d.e.a. Fund in Cohort 1 Closed on June 7th, 2022. Successful applicants will be notified in late June and the full list of Cohort 1 recipients will be announced publicly on August 3rd, 2022. Cohort 2 applications will open in March 2023. For more information on full selection criteria, please consult the i.d.e.a. Fund Program Guide