FedNor funding will help protect and boost local innovation ecosystem to ensure a strong economic recovery

October 14, 2020 – Sudbury, ON – Federal Economic Development Initiative for Northern Ontario – FedNor

Innovation centres are important hubs of technology, research and subject-matter expertise where knowledge is shared, and ideas and concepts can transform into viable business ventures. As our economy recovers from the impacts of COVID-19, the Government of Canada is working hard to ensure Northern Ontario innovation centres and the entrepreneurs they support, are well positioned to take part in our nation’s economic recovery.

Paul Lefebvre, Member of Parliament for Sudbury, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor, today announced a FedNor investment totalling $519,000 to help the Northern Centre for Advanced Technology (NORCAT) continue to deliver its services to local entrepreneurs as well as implement an important new tech development project.

As part of this total, $429,000 was provided through FedNor’s Regional Relief and Recovery Fund (RRRF) to assist NORCAT in bridging the financial gap caused by the pandemic. Specifically, the funding is helping to keep the organization’s staff working and construction on track for the innovation centre’s state-of-the-art surface facility at its Underground Testing Centre in Greater Sudbury. 

The remaining $90,000 will help NORCAT establish a technology hub to accelerate software, gaming, and app development in Greater Sudbury. Once fully operational, the new incubation space will help local tech entrepreneurs to start-up, scale-up and access new markets.

Northern Ontario has been hard hit by COVID-19 and today’s announcement is further proof of the Government of Canada’s commitment to families, communities and businesses, helping them to not just survive, but also thrive. It will help get Canadians back to work and ensure that Greater Sudbury is well positioned to fully participate in Canada’s economic recovery. 

Source link

Author: Editor
Editor represents multiple online news sites, including STL.News, RSSNews.Press and more. As a media company offering website hosting, design and SEO we create the news sites in part to illustrate our "search engine friendly" web hosting and design services. In addition, we believe that our "direct source news" concept helps provide accurate information to the public without bias.