FedDev Ontario investment to support over 145 SMEs and create and maintain 500 jobs in southern Ontario
July 12, 2022 - Cobourg, Ontario
The Government of Canada is committed to supporting businesses as they develop, commercialize and manufacture innovative technologies to build a greener, more resilient economy.
Today, the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced an investment of over $7.7 million for Northumberland Community Futures Development Corporation (NCFDC) to deliver thriveFORWARD-an initiative to help southern Ontario businesses in the tech sector scale-up and support the transition of businesses in the industrial sector to greener business processes.
New technology companies will be eligible to receive up to $25,000 to help bring their products to market and accelerate their growth. In addition, Canadian businesses in the industrial sector will be eligible to receive up to $100,000 to support the cost of adopting new digital and/or clean technologies to ensure they have the tools for continued growth to build a stronger Canadian economy and protect Canadian jobs. NCFDC will work with thriveFORWARD participants to promote collaborative innovation and connectivity across sectors, to strengthen the flow and exchange of information, ideas and investments in the sustainable industries of the future. By project completion, this investment will assist 145 companies and create and maintain 500 jobs, and leverage over $7 million in additional support from the private sector.
With a commitment to support a more diverse and inclusive southern Ontario, NCFDC is prioritizing applicants from diverse organizations and equity-deserving entrepreneurs that are investing in clean inclusive growth.
