Sarnia, ON [April 30, 2024] – FedDev Ontario has announced a significant funding initiative designed to empower the economic landscape of Ontario by supporting innovative businesses. With a commitment to nurturing potential and expanding possibilities, FedDev Ontario invites incorporated businesses to apply for substantial financial backing in the spring 2024 intake. The Sarnia-Lambton Economic Partnership is particularly eager to support local businesses in leveraging these funds to maximize their impact within the region.
Applications can be submitted for
No-interest, repayable contributions from $125,000 up to $10 million per project for incorporated businesses that:
- Develop, commercialize or produce innovative products, processes and services
- Improve productivity, capacity and competitiveness
- Scale up and expand to develop new business opportunities, enter new markets, or reach new customers
Spring 2024 Intake Priorities
FedDev Ontario is particularly interested in projects that align with the following priorities for spring 2024:
- Clean economic growth – projects that support the greening of the economy, that can contribute to emissions reductions, and that create sustainable and green jobs.
- Growth companies – projects that accelerate business development and growth.
- Technology – projects in cutting-edge sectors (e.g., artificial intelligence, cybersecurity, medical technologies, digital health and agri-tech).
- Industrial transition – projects that support change in traditional sectors to adopt new technologies and other innovations to improve their competitiveness and build new opportunities (e.g., the adoption of automation in manufacturing to increase efficiency and productivity).
Priority may be given to projects that support the transition to zero-emission vehicles and housing manufacturing innovation.
Inclusive growth and regional coverage are fundamental investment principles for FedDev Ontario. The organization aims to support business expansion and encourages projects that generate new opportunities for underrepresented groups and foster growth in both urban and small, rural communities.
Interested businesses must apply by June 24, 2024, to be considered for the spring intake. Visit https://feddev-ontario.canada.ca/en/funding-southern-ontario/funding-businesses-southern-ontario-what-we-support to learn more.
About FedDev Ontario
FedDev Ontario’s mission is to invest in people, potential, and possibilities, enhancing the economic and innovative landscape of Ontario through strategic funding and support.
About Sarnia-Lambton Economic Partnership
The Sarnia-Lambton Economic Partnership (SLEP) is the lead economic development agency for the Sarnia-Lambton area. Funded by the County of Lambton, we have a focus on promoting the distinct advantages that Sarnia-Lambton proudly offers companies and residents. By coordinating community-based economic development initiatives and maintaining a commercially attractive environment, we foster new business creation, help ensure that established firms remain and grow here, and work to attract growing businesses to the Sarnia-Lambton area.
For Media Inquiries:
Arianne Garcia
Marketing & Communications Manager
Sarnia-Lambton Economic Partnership
(519) 332 1820 ext 225
arianne@sarnialambton.on.ca