Support for Innovation and SMEs in Yukon

From: Canadian Northern Economic Development Agency

Backgrounder

#1 Cold Climate Innovation – Building Yukon Innovation

  • CanNor invested $1,668,470 in this two-year project with a further $1,660,000 investment from the Government of Yukon.
  • Cold Climate Innovation (CCI) offers high potential innovation-based individuals and SME’s with the unique combination of focused and sustained funding and access to mentorship, guidance, and expert advice (both technical and business). CCI’s goal is to move a high potential idea and SME from start-up to sustained commercial success.
  • The five projects listed below have all been supported in their journey at CCI.
  • Funding went towards the relocation of Cold Climate Innovation (CCI) from Yukon College’s Ayamdigut campus to the NorthLight Innovation Hub in Downtown Whitehorse. Additional funding will go to CCI to expand its support services and broaden its reach into Yukon’s remote communities.
  • The total cost of the project is $3,328,470.

#2 Proskida – Integrated Performance Training Platform

  • CanNor invested $99,000 in this one-year project with a further $87,000 investment from Proskida and $7,000 from the Government of Yukon.
  • Proskida has developed an instrumented ski pole grip that provides cross-country skiers and biathletes with real-time data on their performance.
  • Funding went to Proskida to develop its performance measurement technology and refine its business strategy.
  • This project resulted in the creation of two new jobs as well as over $250,000 in private investment.
  • The total cost of the project was $193,000.

#3 Boreal Compost – Improved Compost Liberator System

  • CanNor invested $99,999 in this one-year project with a further $290,000 investment from Boreal Compost Enterprises Ltd. (BCE).
  • BCE designs and builds commercial-scale machines that reduce waste entering landfills by separating compostable materials from landfill materials.
  • Funding went towards the development of an improved machine system that is capable of processing larger loads.
  • This project allowed BCE to enhance its existing operations and maintain six jobs.
  • The total cost of the project is $389,999.

#4 Apprendo Learning System’s Public Launch

  • CanNor is investing $98,990 in this two-year project with a further $286,815 investment from Apprendo Learning Systems (ALS) and $38,525 from the Government of Yukon.
  • ALS is an international business with over 70,000 registered users in 4 countries that helps organizations to build meaningful relations with their learners while delivering training and education.
  • Funding is going to ALS to expand operations by transforming its online e-learning platform Apprendo into a public training system that is open to institutions, organizations and individuals.
  • This project will allow ALS to create three new jobs and expand one current position.
  • The total cost of the project is $424,330.

#5 Icefield Tools Corporation – Development Laboratory Upgrade

  • CanNor is investing $99,999 in this two-year project with a further $290,000 investment from Icefield Tools Corporation (ITC).
  • ITC designs and develops high-tech precision borehole equipment for use in surveys by the global mining, oil and gas, and civil engineering sectors.
  • Funding is going towards the development of an innovative navigation system that will significantly improve drilling efficiency and cut down on borehole costs.
  • This project is expected to result in the creation of two new jobs and the expansion of ITC’s product line.
  • The total cost of the project is $389,999.

#6 Proof Data Technology – Product Innovation, Piloting and Commercialization

  • CanNor is investing $99,999 in this two-year project with a further $101,430 investment from Proof Data Technology (PDT).
  • PDT develops software that helps government go paperless by streamlining approvals and improving data-driven decision making.
  • The company was recently selected to participate in the prestigious Techstars Toronto Accelerator Program as well as the Creative Destruction Lab at the University of Toronto. These programs provide intensive business-growth mentorship to high-potential start-ups.
  • Funding is going towards the acceleration of the company’s growth and will result in the creation of two new jobs as well as the expansion of three current positions.
  • The total cost of the project is $201,429.

#7 Yukonstruct Makerspace Society – Equipment purchase

  • In October 2018, CanNor announced $922,253 in funding to Yukonstruct’s Northlight Innovation project. This was in addition to a previous CanNor contribution to the first phase of NorthLight Innovation of $1,500,000 announced in March 2018.
  • The Government of Yukon also contributed $1,950,000 to the first phase, in addition to significant cash and in-kind contributions from the private sector.
  • The $73,495 being announced today represents a top-up in CanNor funding to Yukonstruct to purchase new equipment that will allow entrepreneurs and SMEs to build models and prototypes to further develop their products for commercialization.
  • The total cost of the additional equipment purchase is $73,495.

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