Government of Canada Invests $5 Million in Jobs, Growth and Innovation in Southern Ontario

The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), today announced a contribution of up to $5 million for the Research Innovation Commercialization Centre that will provide graduates in the fields of science, technology, engineering and math (STEM) with the skills and support they need to start their own businesses.

With this funding, the Research Innovation Commercialization Centre will provide mentoring and financial support for 160 innovative new start-up businesses in southern Ontario.

The funding is being provided through the Federal Economic Development Agency for Southern Ontario's Scientists and Engineers in Business initiative, designed to assist graduates and graduate students in STEM fields in developing their business skills and drive them toward the commercialization of their product or service idea.

In addition, the Research Innovation Commercialization Centre will use the contribution to provide business skills development and entrepreneurship training to up to 450 graduates, and help them develop their ideas and launch new start-up businesses. This will improve the entrepreneurs' access to the financing and business mentoring needed to commercialize their innovations and successfully manage their businesses.

The Centre has teamed up with the Canadian Innovation Centre and Communitech in Waterloo, MaRS in Toronto, Lead-to-Win in Ottawa, and Conestoga College in Kitchener, to develop and deliver the online tools that will provide learning opportunities and business development support to eligible graduates in all parts of southern Ontario.

Entrepreneurs who successfully complete the training may be eligible for up to $30,000 in support to launch their businesses. The Research Innovation Commercialization Centre has deemed 30 entrepreneurs from Ottawa, Toronto (5 MaRS clients were announced today) and Waterloo as already eligible for support under the program.

Waterloo, Ontario, Canada

Founded by a group of entrepreneurs in 1997, Communitech is an industry-led innovation centre in Waterloo Region, supporting a tech cluster of nearly 1,000 companies. Communitech supports tech companies at all stages of their growth and development – from startups to rapidly growing mid-sized companies and large global players. A member of the Ontario Network of Entrepreneurs, Communitech... more

Toronto, Ontario, Canada

MaRS, one of the world’s largest urban innovation hubs, connects the communities of science, business and capital and fosters collaboration among them. This happens physically through location of research labs, companies of all sizes, business advisors, investors and professional services within the MaRS Centre and more broadly through hands-on advisory services, entrepreneurial programming,... more

Lead to Win
Ottawa, Ontario, Canada

If you are serious about starting a profitable tech-based business in Canada's Capital Region during the current economic situation, we invite you to apply to Lead to Win (LTW). Ontario’s Talent First Network is pleased to announce the launch of the Lead To Win program for talented individuals or teams who want to launch a new technology-based business in Canada's Capital Region. The program... more

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