Canada invests in clean technology start-ups from around country

From: Innovation, Science and Economic Development Canada

September 16, 2020 – Ottawa, Ontario

Canada has made clean technology a priority in its economic growth and is continuing to position Canada as a global cleantech leader so that all Canadians can benefit from this fast-growing market.

Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Industry, announced an investment of $24.8 million in nine small businesses across Canada that are using innovative solutions to tackle climate change, support well-paying jobs and create a more sustainable future. The nine projects are receiving funding and support from Sustainable Development Technology Canada (SDTC), which finds, funds and fosters the game-changing technologies that are critical in a low-carbon economy. SDTC helps Canadian entrepreneurs accelerate the development and deployment of globally competitive clean technology solutions.

The announcement comes as Canadian and international clean technology leaders and entrepreneurs are meeting virtually for the SDTC Annual Public Meeting. The meeting features discussions around the commercialization of Canadian clean technologies, which will help Canada transition to an economy with net zero carbon dioxide emissions and help entrepreneurs tap into the growing global demand for carbon-neutral solutions.

The COVID-19 pandemic has offered an opportunity to think about common priorities within communities, mobilize Canadians’ ingenuity to solve tough challenges together, and reflect on the kind of future we want to build. Investments such as the one announced today will build a fairer and more resilient Canada that works for everyone.

Quick facts

  • Investments in clean new market technologies are part of the Government’s Innovation and Skills Plan.

  • Canada is number one in the G20 for clean technology innovation. In January 2019 and again in January 2020, 12 Canadian companies were recognized on the Global Cleantech 100 List. Ten of these were funded by SDTC.

  • The clean technology market is set to exceed $2.5 trillion by 2022.

  • Clean technology companies currently employ more than 195,000 Canadians in well-paying jobs that help reduce Canada’s environmental impacts and meet its climate change goals.

  • As Canada’s largest funder of cleantech entrepreneurs, SDTC took decisive action to support Canadian small businesses navigating this unprecedented economic reality during the pandemic crisis.

  • SDTC is an arm’s-length foundation created by the Government of Canada to support Canadian companies with the potential to become leaders as they develop and demonstrate new technologies to address some of our most pressing environmental challenges.

  • Clean technology companies can get advice from a team of experts from across government through the Clean Growth Hub. The Hub provides a single, easy point of contact for connecting with clean technology programs and services.

Contacts

John Power

Press Secretary

Office of the Minister of Innovation, Science and Industry

343 550-1456

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