London-area businesses share $600K in federal cash to go green
London and area businesses are getting federal government cash to develop green products and support economic diversity.
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London and area businesses are getting federal government cash to develop green products and support economic diversity.
FedDev Ontario, through its I.D.E.A. Fund, is giving $600,000 to 20 businesses, partnering with TechAlliance in London, which is channeling the money.
“This is about innovation, supporting the green economy and creating new jobs and growth with an environmental footprint,” said Karen Chalmers, vice-president of TechAlliance in London. “This funds sustainable, equitable projects.”
TechAlliance has partnered with regional innovation centres that support small business startups and growth in their communities to share the money. Those centres are in Guelph, Niagara, Windsor, Halton and Hamilton.
Businesses have to offer up matching funding to get the $30,000. But businesses that are founded by persons of colour, LGBTQ community members or those facing physical challenges have to offer up just 25 per cent of the $30,000, Chalmers said.
Carmina Young owns Carmina de Young Fashion Design Inc. on Saskatoon Street. She will use the cash to transition from making medical gowns in the COVID pandemic back to her fashion roots, making clothing for men and women again.
“We delivered federal contracts making (personal protective equipment) and now we have to rethink what we do. We’re going back to fashion. It’s where we have expertise,” she said.
In business since 2000, Young plans on buying new equipment that will help implement green production practices with the federal money. “It makes sense for us to go back to fashion.”
Not all the businesses are headquartered in Southwestern Ontario, but have a presence here, added Chalmers.
A second phase in the fund will be offered March 2023.
The business that received money in the first phase are: Adaptis Technologies Inc.; Apricotton Inc.; Carmina de Young Fashion Inc.; ChargerQuest Inc.; CondoWorks; Electric Vehicle Network; Haggerty AgRobotics Company Ltd.; Interval; Kabo Labs Inc.; Marlow; OCI Vacuum Microengineering Inc.; Peacasa Snacks; Polar Imaging Inc.; RideShark Corporation; SoilOptix Inc.; Speak Ai; Tenomix; Terra Optima Labs; Top Shelf Canada Inc.; and Wilma Technologies Inc.
Across southern Ontario, about 120 companies received non-repayable contributions of up to $3.6 million.
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