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FedNor Investment Helps Establish Innovation Acceleration Program in Northern Ontario
FedNor announced today that it is investing $200,000 to enable the Northern Centre for Advanced Technology (NORCAT) to fire up its Innovation Acceleration Program.
The announcement was made by Sudbury MP Paul Lefebvre, on behalf of Navdeep Bains, the minister of Innovation, Science and Economic Development, and the minister responsible for FedNor.
“Technology and innovation are key priorities for our government and I am thrilled that this investment will create jobs and new opportunities right here in the North,” Lefebvre said.
Aimed at private-sector businesses and entrepreneurs, the Innovation Acceleration Program is designed to help high-tech businesses improve productivity and competitiveness through the use of innovative technologies, processes or practices, a FedNor press release stated.
“We are committed to investing in strategic initiatives that encourage businesses to become more innovative, productive and competitive through the adoption and commercialization of new technologies,” said Bains in the news release.
Under the program, businesses can access up to $10,000 in non-repayable funding to support services or direct costs for innovation-related product development. Supported activities include planning and development, sales and marketing, software and application development, as well as product testing and certification.
“NORCAT has a long history of success working with the private sector and I look forward to the positive results this project will deliver for our clients as well as the people, businesses and communities we serve,” said NORCAT CEO Don Duval in response to the announcement
