Fifty Ontario companies have been pick out to receive seed funding from Bioenterprise Corporation and its deliverance spouse Innovation Guelph , through the most late round of their respective program , Seed Fund and Fuel Injection , fund by the Government of Canada through the Federal Economic Development Agency for Southern Ontario ( FedDev Ontario).These companies will receive coaching job and mentorship to encourage regional economic development , along with a Hiram Ulysses Grant of up to $ 30,000 each in non - repayable germ funding to aid them found innovational fresh product and services , blow up their surgical operation , access Modern food market , attract investment funds and create job . This fresh round of companies will add to the more than 120 southerly Ontario innovators that have participate in previous rounds of the programs since 2016 .
As President and CEO of Bioenterprise , Dave Smardon , explicate , “ Programs that permit companies to get at not only funding but also the resources to make deep impact for the sector are so critical to southern Ontario ’s continued leadership . The Seed Fund Program is institute new solutions to market place , new advanced players to the sector , and the results are phenomenal . ”
“ Fuel Injection , funded through FedDev Ontario , is contribute to the economical ecosystem right away , ” said Anne Toner Fung , Executive Director , Innovation Guelph . “ authorize innovation through seed funding , as well as mentorship and breeding across sectors , builds a rich and sustainable economy . ”
The funding supply by FedDev Ontario for these two programs has result in more than $ 55 million in follow on individual investment funds and $ 53 million in sales , coupled with the creation of more than 520 jobs , and 460 intersection being successfully launched since the programme ’ inception .
“ Bioenterprise , Innovation Guelph and all of the recipients of these rounds of funding can be majestic of their incredible work in reenforcement of conception across southern Ontario . The Government of Canada is proud of to be a partner in this enterprise to attend entrepreneur at all points along the innovation continuum , ” said Lloyd Longfield , Member of Parliament for Guelph , on behalf of the Honourable Navdeep Bains , Minister of Innovation , Science and Economic Development and Minister responsible for for FedDev Ontario .
Through FedDev Ontario , the Government of Canada has adorn $ 7.12 million into innovation in the region through Bioenterprise ’s Seed Fund and Innovation Guelph ’s Fuel Injection program . This support has reach former - phase southern Ontario businesses in agriculture , agri - solid food , sustainable and environmental technology , forward-looking manufacturing and societal innovation .
For more entropy : Bioenterprisewww.bioenterprise.ca
