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June 25, 2024

Entrepreneurs in Georgian Bay area to benefit from expanded business services, bringing new products to market

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Entrepreneurs grow our economy through their ideas and innovations while bringing various experiences to our communities and to Canadians. The Government of Canada is working with partners to ensure that businesses and entrepreneurs have the support they need to thrive for years to come.

On June 25, Ryan Turnbull, Parliamentary Secretary to the Deputy Prime Minister and Minister of Finance and to the Minister of Innovation, Science and Industry and Member of Parliament for Whitby, visited Spark Commercialization and Innovation Centre (Spark Centre), which provides support to early-stage and growing technology and innovation entrepreneurs.

While at Spark Centre, PS Turnbull learned about the new Landing-Pad Accelerator Program, which will offer a range of supports, including workshops and coaching to newcomer and female founders and skilled talent in Environment, Energy and Engineering (EN3). With a $2-million investment, the Centre will help entrepreneurs grow their businesses in areas such as emission reduction, biodiversity protection, electrification, smart mobility/technology, and renewable energy. This program will support 80 businesses to commercialize new products and provide mentoring to more than 200 entrepreneurs.

Located in Collingwood, Ontario, GB Accelerator is expanding its capacity to support more businesses, including in the surrounding counties of Simcoe, Grey and Bruce. With a $400,000 investment over three years, this expansion will help support clean and advanced technology businesses through training, mentorship and individualized programming. The project is expected to support over 35 businesses to commercialize new products and provide training/mentorship to 400 entrepreneurs.

Organizations that equip businesses with necessary tools and essential resources are helping to sustain and accelerate them during their initial stages of development. The Government of Canada understands the importance of these organizations and the impact they are having for businesses and on Canada’s economy.

“Here in Oshawa and across southern Ontario, incubators and accelerators play a vital role in nurturing local businesses, providing them with the support and resources they need to thrive," said Turnbull. "Today’s investment demonstrates the Government of Canada’s continued support for innovation, cultivating local talent, and providing businesses with the tools they need to succeed.”

“Accelerators and incubators play an important role in supporting new businesses so they can grow and succeed. By providing invaluable resources, like mentorship and networking opportunities, these organizations empower entrepreneurs to turn their ideas into successful businesses, ultimately contributing to Canada’s thriving entrepreneurial ecosystem.” said the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario

"The Landing-Pad Accelerator Program, for Newcomer and Female Entrepreneurs in EN3, will strengthen the EN3 sector across eastern Ontario and build a robust innovation ecosystem that nurtures the diverse talents of newcomer and female entrepreneurs. We are immensely grateful for the financial support of FedDev Ontario and for the opportunity this funding brings to our many newcomer and female founders,” said Sherry Colbourne, President and CEO, Spark Commercialization and Innovation Centre.

"We are incredibly excited and thankful to FedDev Ontario," said Peter Heinke, Executive Director, GB Accelerator. "This funding will allow us to extend our programs to support the dynamic entrepreneurs in the Grey Bruce region, particularly in the vital sectors of clean and advanced technologies. Our success lies in the lean and impactful programs we've developed, which draw heavily on the wealth of entrepreneurial mentorship available right here in the Georgian Bay area."

 


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