20 companies supported by Hamilton’s Innovation Factory will share in funding that will create jobs and bring new technologies to market that continue Canada’s transition to a green economy. The i.d.e.a. Fund was developed to help clean growth firms 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.
20 innovative companies received non-repayable contributions of $600,000 from Innovation Factory, in partnership with Innovation Guelph, through the Government of Canada-supported i.d.e.a Fund.
The Innovation Factory-supported companies in Cohort 1 are:
• Enhanced Medical Nutrition
• Women’s Global Health Innovations
• Aposys Technologies Inc
• Skygauge Robotics
• Bug Mars
• StrongBo Agritech
• Ecosystem Informatics Inc
• AP Renewables
• Rally Video
• ImaginAble Solutions
• A.I. VALI Inc
• Hydrogen Works
Across southern Ontario, approximately 120 companies received non-repayable contributions of up to $3,600,000 in Cohort 1.
Led by Innovation Guelph, the fund is being delivered in partnership with five Regional Innovation Centres (RICs): Haltech (Halton Region), Innovate Niagara, Innovation Factory (Hamilton), TechAlliance of Southwestern Ontario (London) and WEtech Alliance (Windsor and Chatham-Kent).
Fifty percent of the businesses receiving support through the fund will be owned or led by women and 30 percent owned or led by Indigenous peoples, persons with disabilities, Black communities, racialized communities and members of the LGBTQ2+ community.
David Carter, Executive Director with the Innovation Factory, welcomed the announcement: “today’s investment allows us to reach even further into our region’s innovation ecosystem and support entrepreneurs who are contributing to a greener economy for the future. In addition to the i.d.e.a Fund investments, we are proud to support these companies on the next stage of their commercialization journey with mentorship, strategic connections and networking opportunities.”