Monday, August 15, 2022

Government of Canada invests C$2.5 million to support new cleantech companies

The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has announced an investment of C$2.5 million to the Advance-ON program, an initiative by GreenCentre Canada aimed at helping cleantech companies in southern Ontario develop and commercialize their technologies as well as grow and maintain jobs.

The Advance-ON program will provide the companies with specialized laboratory equipment, technical and business expertise, and a customized plan to address their business needs.  The program also seeks to support the participation of underrepresented groups in the cleantech sector as well as companies developing clean technologies that can benefit the Indigenous communities.

Part of FedDev Ontario’s Jobs and Growth Fund, this investment will assist 30 small to medium enterprises (SMEs), and support 650 jobs, 350 during the project period and another 300 within two years of project completion. An additional C$400,000 can be leveraged from the private sector.

“Through support for GreenCentre Canada’s Advance-ON program, the Government of Canada is supporting the transition to a clean, green economy,” said Mark Gerretsen, Member of Parliament for Kingston and the Islands. “Today’s investment reflects our commitment to helping local innovators succeed and to the equal participation of underrepresented groups in our economy.”

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Jim Love, Chief Content Officer, IT World Canada

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Ashee Pamma
Ashee Pamma
Ashee is a writer for ITWC. She completed her degree in Communication and Media Studies at Carleton University in Ottawa. She hopes to become a columnist after further studies in Journalism. You can email her at apamma@itwc.ca

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