Innovative early-stage businesses and entrepreneurs in southern Ontario will have greater opportunities to develop, grow and export, thanks to an additional investment of up to $2.28 million in Bioenterprise Corporation.
In 2016, FedDev Ontario announced a contribution of $4.84 million for Bioenterprise Corporation to deliver the Bioenterprise Seed Fund and Innovation Guelph’s Fuel Injection program, which provides entrepreneurs and early-stage businesses with seed funding, access to specialized industry expertise and business coaching. To date, 115 Ontario companies have received support, resulting in more than 135 new products, services and processes brought to market and more than $37 million in new revenue and private sector investment.
Through the new funding announced today, up to an additional 52 start-up companies in the agri-technology, sustainable and environmental technologies, advanced manufacturing and social innovation industries will be supported. In total, the overall project will support over 160 businesses and create up to 290 jobs in southern Ontario.