FedNor investment supports business innovation in Greater Sudbury
March 17, 2022
Investment of $418,500 to help innovative start-up and high-growth firms commercialize new technologies, and create 30 full-time jobs in the region
Innovation accelerators help Canada’s most promising start-up and high-growth firms establish themselves, and gain access to mentorship, financing and other assistance to fast-track the commercialization of new products, increase productivity and create middle-class jobs. In Northern Ontario, the Government of Canada, through FedNor, is working closely with its community partners to create employment, fuel business growth and accelerate research and development in key sectors of the economy.
Today, Viviane Lapointe, Member of Parliament for Sudbury, announced that NORCAT will receive $418,500 through FedNor to extend its highly successful Innovation Acceleration Program until 2025. Marc G. Serré, Member of Parliament for Nickel Belt and Parliamentary Secretary to the Minister of Official Languages, was also on hand for the announcement, which was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, and Member of Parliament for Thunder Bay–Superior North.
NORCAT’s Innovation Acceleration Program will help high-tech businesses in Greater Sudbury improve productivity and competitiveness through the use of innovative technologies, processes or practices. Eligible companies can receive up to $10,000 in non-repayable funding for services or direct costs for innovation-related product development such as software and application development, product testing and certification. This third phase of the program is expected to support eight business start-ups and the modernization or expansion of an additional 12 local firms. Once complete, this three-year initiative will lead to the creation of 30 jobs, three new services and 18 new products or technologies, 10 of which will be commercialized.
Northern Ontario has been hard hit by COVID-19 and today’s announcement is further proof of the Government of Canada’s commitment to support innovative entrepreneurs, businesses and start-ups so they can overcome the impacts of COVID-19, ramp up quickly and fully participate in our economic recovery.
Quotes
“Strong local economies rely upon the prosperity and growth of innovative businesses and entrepreneurs. Through investments in innovation accelerators, our government is fostering the next generation of Canadian innovation and maximizing opportunities for businesses to start up, scale up, and create middle-class jobs. We are proud that our continued support is helping entrepreneurs adapt to the quickly evolving social and economic realities, while positioning Northern Ontario for sustainable growth.” - The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, and Member of Parliament for Thunder Bay–Superior North
“Today’s announcement will help create 30 high-quality jobs by unleashing the economic potential of innovative start-up and high-growth businesses in Greater Sudbury. This investment in NORCAT will help fuel our economy by fast-tracking technology development, improving business success rates and maximizing opportunities within Sudbury’s innovation ecosystem.” - Viviane Lapointe, Member of Parliament for Sudbury
“I am thrilled that innovators and job creators throughout Greater Sudbury-Nickel Belt will have continued access to NORCAT’s Innovation Acceleration Program until 2025. During the previous phase, this exciting program helped create 28 news businesses and 46 full-time jobs, while serving as a launching pad for 32 innovative new products, services, processes and technologies.” -Marc G. Serré, Member of Parliament for Nickel Belt and Parliamentary Secretary to the Minister of Official Languages
“As a longstanding partner, we are excited to work with the Government of Canada to deliver the FedNor Innovation Acceleration Program to support the growth of emerging tech start-ups in our community. This initiative will not only bolster our in-demand service offerings, but also it will ultimately fuel economic growth, job creation and prosperity for our region." -Don Duval, CEO, NORCAT
Quick Facts
The funding announced today is provided through FedNor’s Regional Growth Through Innovation Fund (REGI), which supports the growth of Northern Ontario businesses, their expansion into new markets and their adoption of new technologies and processes.
Since 2018, FedNor has provided more than $78 million in REGI funding to support 110 projects. Once complete, these projects are expected to help create and maintain more than 4,570 jobs in communities and First Nations across Northern Ontario.
NORCAT is focused on developing and providing world-class programs, services, and resources to reduce injuries, save lives, and enhance productivity in the mining industry and beyond. In addition, NORCAT is the only non-profit regional innovation centre in the world that has an operating mine designed to enable start-ups, small and medium-sized enterprises, and international companies to develop, test, and showcase new and innovative technologies in an operating mine environment.
Associated links
To find out more about our programs and services, please visit: gc.ca
