Feds invest $5.2M in CME tech program
by CM Staff
Up to 175 manufacturers in southern Ontario will be provided technology assessments
WINDSOR, Ont. — The federal government announced on March 10 a FedDev Ontario investment of over $5.2 million for Canadian Manufacturers & Exporters (CME), the country’s largest trade and industry association, to deliver the launch of its new Technology Assessment Program.
In collaboration with the Windsor-Essex Regional Chamber of Commerce, CME will provide up to 175 small- to medium-sized manufacturers in southern Ontario with productivity and technology assessments, aimed at stimulating investments and the adoption of new technology solutions.
Eligible businesses will receive an assessment by a vetted technical qualified service provider, valued at up to $25,000.
FedDev says these assessments will position businesses to improve their overall productivity, grow and diversify into new markets, increase competitiveness, and bring higher-paying jobs and skills into southern Ontario.
“Businesses that invest in new technologies have a considerably better growth outlook than their non-adopting counterparts, at home and in global markets,” said CME president and CEO Dennis A. Darby in a statement. “This program will help manufacturers adopt new technologies sooner and access its wide range of potential benefits like lower operating costs, increased product quality, higher innovation capacity, and increased customer satisfaction.”
FedDev’s support for the Technology Assessment Program is expected to generate up to $40 million in follow-on investments.
Since 2009, FedDev invested more than $58 million through CME, which has helped to fund more than 1,600 projects and created or maintained more than 22,000 direct jobs.
For more information, including how to apply, visit CME’s website.