Canadian Government Funding Supports Innovation in Waterloo Region

Communitech Corporation is receiving a Canadian government funding for small business contribution of up to $6.4 million through FedDev Ontario’s Technology Development Program to construct two next-generation satellites.  Members of Parliament for Kitchener Centre and Kitchener-Waterloo were on-hand, on behalf of Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) at the Tannery to announce Canadian government funding for research and development investments in support of four information and communication technology development and start-up business projects in the Waterloo region.

FedDev Ontario Small Business Grants

“The investment announced today in the Region of Waterloo recognizes that southern Ontario is uniquely positioned to become a leader in information and communication technology development and support of start–up businesses,” said MP Woodworth.

In addition to the research and development funding contribution via the Technology Development Fund, exactEarth Ltd. is receiving up to $2.49 million through FedDev’s Prosperity Initiative to upgrade its satellite data gathering and processing capabilities in order to strengthen southern Ontario’s competitive advantage.  FedDev Ontario also announced its investment in TribeHR Corp through the Investing in Business Innovation initiative to the tune of $542,399 to help its effort to commercialize human resource management software, and Dejero Labs Inc. will receive up to $925,000 to further develop a technology enabling the transmission of live HD video through mobile devices.

Info on Related Canadian Government Grants and Business Loans Ontario:

Investing in Business Innovation: The Investing in Business Innovation small business funding grant is positioned to support the growth of investments through Angel or Venture Capital in Southern Ontario.   IBI provides a 33.3% Canadian government funding contribution up to $1M.  The Venture Capital Organization involved must be registered with Canada’s Venture Capital & Private Equity Association.

Technology Development Program: The Technology Development Program helps research and innovation organizations, the private sector, post-secondary institutions and not-for-profit organizations work together to accelerate the development of technologies that will result in new market opportunities for southern Ontario businesses.  Total program funding is up to $75 million over four years. Applicants may request contributions of up to $20 million per project.  For more information please contact a Canadian Government Funding Expert.

FedDev Prosperity Initiative: FedDev’s Prosperity Initiative’s purpose is to help develop a more diversified and competitive economy in Southern Ontario.   The Canadian government funding mechanism will be doled out in the form of repayable contributions of up to 50 percent of eligible direct capital project costs and up to 75 percent of direct eligible non-capital costs to a maximum of $20 million for projects completed by the end of March next year.  $210 million has been set aside for this program in hopes that it will give Southern Ontario businesses the tools they need to expand geographically and at the same time create opportunities for people and businesses in the region.

Would You Like to Know More About Investing in Business Innovation Canadian Government Funding?

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Mentor Works Ltd.: Canadian Government Funding Experts

Mentor Works provides a number of free online resources to help businesses stay up-to-date on Canadian government grants opportunities.  We invite you to stay informed of Canadian government funding news by subscribing to our Weekly Small Business Funding Grants & Loans E-Newsletter and offer you an opportunity to learn all about the Canadian government funding opportunities available for you and your company by attending one of our Free Canadian Government Funding Workshop in your area this month.