Each of the above companies have been selected to receive up to $30,000 in matching seed fund money from FedDev Ontario, made possible through a recent top-up of funding. The program is designed to assist in the commercialization of innovative products and/or services and boost revenue and profitability for all those who take part.
These participants were chosen as a result of a thorough selection process that involved, among others, Fuel Injection event sponsor MNP. The process is designed to ensure the companies are well-positioned to make the most of the program. These twenty-one companies stood out above the rest in this highly competitive process.
“It is rewarding and exciting to meet with the companies, get to know their teams and watch the growth,” says Mickey Campeau, Program Manager at Innovation Guelph (IG). “In addition to providing the seed funding, the ongoing mentorship is important too – to better assist with recipients’ business challenges and support their ongoing success”.
“Fuel Injection is not just about funding (for us), it is also about the mentoring we receive through Innovation Guelph. With a robust roster of mentors specializing in different areas of business development, we hope to receive guidance from product development to supply chain management for our products,” said Geet Sheth, Green Circle Dine Ware. Green Circle manufactures and distributes naturally biodegradable, paper straws and dinnerware for the Canadian restaurant industry and will be Canada’s first manufacturer of paper straws that are FDA and FSC approved Canadian pulp paper.
New Fuel Injection client, Judy Roeder with Urban Cottage Landscapes hopes this program will help them to gain the knowledge and experience needed to successfully grow healthy trees in our cities and urban homes, both locally and globally.
Although the funding is very important, a strong component of the program is the accompanying mentorship and guidance these companies will be receiving. The depth of IG’s roster of dedicated mentors ensures support is available to address all business objectives.
Don Thompson, one of the experienced Innovation Guelph mentors involved in the program, says he has seen the positive impact on clients; “Clients can expect to look at their business and ideas from perspectives they have not considered. The market is ever changing and with Innovation Guelph’s support, we can help them navigate their idea to customers,” Don said.
We look forward to officially welcoming this group with a celebration in the weeks to come. As we learn more about these companies, you will too! Look for more information later this winter.
The Innovation Guelph Fuel Injection Seed Funding Program supports business scale-up projects of start-ups and small and medium-sized enterprises (SMEs) located in southern Ontario. The Fuel Injection program facilitates enterprise growth through generation of new jobs and revenue, attraction of follow-on private investment, the launch of new products or services, and cost savings through energy, water or waste innovations. Since 2015, the Fuel injection program has been providing support and mentorship to innovative companies in Southwestern Ontario. It is funded by the Government of Canada through the Federal Economic Agency for Southern Ontario (FedDev Ontario).