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$12 Million FedDev Funding Announcement

In Events, news, Research & Innovation, Uncategorized by James Tost

Government of Canada Invests $12M to Support Bio-Based Innovation in Sarnia-Lambton

Residents of the Sarnia-Lambton region will benefit from more jobs for the middle class – and those working hard to join it – as a result of a $12-million investment to support the sustainable chemistry and bio-based industrial sector.

The investment to Bioindustrial Innovation Canada by the Government of Canada was announced July 25, 2016 by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

The Government’s Innovation Agenda aims to make Canada a global centre for innovation – one that creates jobs, drives growth across all industries and improves the lives of all Canadians. This investment is a prime example of that vision in action.

The investment is expected to create 478 full-time equivalent jobs and result in 250 new industrial collaborations, especially among small and medium sized businesses. The funding will be used to support the Centre for the Commercialization of Sustainable Chemistry Innovations, located at the Western Sarnia-Lambton Research Park. The centre will provide businesses with the help they need to bring new products from final testing to market much faster.

The non-repayable contribution, made though FedDev Ontario’s Investing in Regional Diversification initiative, will also support a fund to help small and medium-sized businesses access the investment money they need to scale-up their business.

It will position the region to transition strategically from an economy based on petrochemicals and refined petroleum to an emerging economy based on clean technologies that emit lower carbon emissions and are more energy-efficient, while also helping to strengthen the region’s middle class.