Government of Canada invests $9M to help Waterloo region companies grow

The Government of Canada is committed to supporting businesses and the organizations that support them as they drive sustainable growth and innovation and shape a resilient and prosperous future for southern Ontario’s economy.

Today, the Honourable Ruby Sahota, Minister of Democratic Institutions and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), visited the Waterloo Accelerator (Accelerator Centre) to learn about how the organization is enhancing the AC:Studio program to help more clean tech companies bring products and solutions to market. Minister Sahota was joined by the Honourable Bardish Chagger, Member of Parliament for Waterloo; Bryan May, Parliamentary Secretary to the Minister for Small Business and to the Minister responsible for the Federal Economic Development Agency for Southern Ontario and Member of Parliament for Cambridge and Valerie Bradford, Member of Parliament for Kitchener South–Hespeler.

While there, Minister Sahota announced nearly $9 million for organizations in the Waterloo Region to support Canadian solutions in clean technology and advanced manufacturing.

Avidrone Aerospace in Breslau will receive around $700,000 to help accelerate creation of zero-emission cargo drones for medical and defense supplies. They can carry 20 kgs for up to 100 kms, making delivery of supplies more efficient.

Other companies that got a significant funding boost locally include Alchemy, ($1,800,00) Ball Service Group, ($800,00) FluidAI Medical, ($2,000,000) GeoMate Inc., ($600,000) Planitar ($1,500,00) and Smarter Alloys Inc. ($1,800,00).

These investments underscore the Government of Canada's ongoing commitment to supporting our businesses and entrepreneurs as they foster sustainable, homegrown innovation while contributing to the growth of southern Ontario and Canada’s economy.  

Since November 2015, FedDev Ontario has invested over $290 million in more than 240 projects in the Waterloo Region, supporting more than 57,000 jobs.