Government of Canada support helps drive clean-tech and circular growth in southern Ontario

September 4, 2024 – Guelph, Ontario

Southern Ontario has a diverse network of promising entrepreneurs and businesses. They are fueling Canada’s potential as a leader in clean technology. That is why the Government of Canada is committed to supporting the growth of businesses and organizations by providing them with the resources they need to bring green innovations to market and support a strong economy.

Today, on behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Lloyd Longfield, Member of Parliament for Guelph, visited Boundless Accelerator (formerly known as Innovation Guelph) to celebrate the launch of the Southern Ontario Environmental Impact Fund (SOEIF). With a Government of Canada investment of $5.2 million, through FedDev Ontario, Boundless Accelerator will deliver SOEIF, which will consist of two programs, a revised cohort of the i.d.e.a. Fund and the Sustainable Impact Program (SIP), to accelerate clean-tech and circular economy growth in southern Ontario.

Through the i.d.e.a. Fund program, Boundless Accelerator will work with a network of Regional Innovation Centres (RIC) partners, including Innovation Factory, Innovate Niagara, LaunchLab, TechAllliance of Southwestern Ontario and WEtech Alliance to co-deliver the i.d.e.a. Fund. This program will provide companies with access to business support and seed funding to develop and/or re-design green products, services, processes and technologies to reduce their environmental footprint. The application intake will open on September 9, 2024. For more information, including how to apply, visit the i.d.e.a. Fund website.

Through the soon-to-be-launched SIP program, Boundless Accelerator will work with partner organizations that are targeting innovations to reduce their environmental impact. They will also work to support commercialization activities of high-potential scale-ups, providing them with the tools they need to become export and investor-ready.

The Government of Canada is committed to supporting clean growth while strengthening and building on existing measures that fight climate change and transform the economy.

Quotes:

“Canada is ready to be a world leader in green recovery, and southern Ontario’s businesses and organizations are in a unique position to lead the way. The Southern Ontario Environmental Impact Fund will help grow clean-tech businesses, helping us to transition to a cleaner, stronger economy.”
– The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario

“Now, more than ever, supporting environmentally-friendly solutions and processes is essential for Canada’s future and economic sustainability. Organizations like Boundless Accelerator in Guelph and the southern Ontario RIC partners are paving the way for businesses and organizations to work together to green operations and fight climate change.”
– Lloyd Longfield, Member of Parliament for Guelph

“We are thrilled to launch the Southern Ontario Environmental Impact Fund (SOEIF) in partnership with FedDev Ontario. This investment will empower innovative companies across southern Ontario to lead the way in clean-tech and circular economy advancements. By working closely with our Regional Innovation Centre and university partners, the i.d.e.a. Fund and the new Sustainable Impact Program will provide vital resources and support to businesses committed to making a positive environmental impact. Together, we are fostering a greener, more sustainable future for our region and beyond.”
– Alison Crumblehulme, CEO, Boundless Accelerator

Quick Facts:

• Established in 2011, Boundless Accelerator equips entrepreneurs with expert mentorship, resources, education, and connections to help them build innovative, sustainable ventures, with more than 1,400 entrepreneurs supported to date.
• To date, the i.d.e.a. Fund has supported nearly 245 businesses, helped to commercialize nearly 480 products, services or processes and supported nearly 1,290 jobs.
• Regional Innovation Centres (RICs) help Ontario’s early-stage entrepreneurs succeed by offering mentorship, market intelligence, connecting them to funding resources and help innovators work through the challenges of developing their ideas to make them marketable.
• Boundless Accelerator will also partner with four organizations supporting circular economy activities, including the University of Guelph, McGill University, Ontario College of Art & Design (OCAD) and City of Guelph Solid Waste Resources to support both SOEIF program streams.
• Since 2015, the Government of Canada, through FedDev Ontario, has invested over $700 million in more than 300 projects to support clean growth initiatives in southern Ontario.