Federal government invests over $2.5M in cleantech companies in southern Ont.
by CM Staff
GreenCentre Canada is delivering the Advance-ON program, which will provide a combination of access to specialized laboratory equipment and technical experts – to early stage clean tech companies.
KINGSTON — On Jul. 21, Mark Gerretsen, Member of Parliament for Kingston and the Islands, announced a non-repayable contribution of over $2.5 million for GreenCentre Canada to help businesses in the cleantech sector commercialize their products, scale-up their businesses and create jobs in southern Ontario.
With this investment, GreenCentre Canada will be delivering the Advance-ON program, which will provide a combination of access to specialized laboratory equipment and technical experts – to early stage clean tech companies that are ready to commercialize their technologies and grow their businesses. Each company selected will reportedly have a plan tailored to address their specific needs to accelerate their product and process developments. Through this Jobs and Growth Fund investment, GreenCentre Canada will assist up to 30 SMEs, support 650 jobs, 350 during the project period and an additional 300 within two years of project completion, and leverage almost $400,000 in private sector investment.
Participants will also receive business advisory supports from a network of subject matter experts such as chemists, chemical engineers and specialists that will help them with product development and commercialization activities that will help entrepreneurs get their products to market faster.
Through Advance-ON, GreenCentre Canada will reportedly focus on supporting underrepresented groups in the cleantech sector. This includes prioritizing participation of underrepresented groups to be supported by the program, as well as identifying and supporting companies developing clean technologies that could benefit Indigenous communities.
“Today’s investment for GreenCentre Canada’s Advance-ON program represents the Government of Canada’s hands on commitment to supporting entrepreneurs while building towards a cleaner, green future and an inclusive recovery for all. This project will support 650 jobs and help up to 30 SMEs in southern Ontario to scale-up their business, commercialize products and improve resilience, strengthening Canada’s green economy for years to come,” says Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario.