The federal government has given
another $2.28 million to Bioenterprise to deliver the Bioenterprise Seed Fund
and the Innovation Guelph Fuel Injection program.
Both invest in start-ups and
entrepreneurs in southwestern Ontario.
Guelph MP Lloyd Longfield made the
announcement at the inaugural Innovation Expo in Gueph.
“Starting a business is knowing who can
help you – and people know that Guelph is a hotbed for innovation,” Longfield
said.
FedDev gave Bioenterprise $4.84
million in 2016 so it could launch the two lending programs.
So far 115 companies have received
support to create more than 135 new products, services and processes that
generated about $37 million in revenues and private-sector investment.
“This is all about partnerships, and
our goal is to find the best innovation we can in agriculture, agri-food and
agtech, whereas Innovation Guelph has a bit of a broader mandate,” said
Bioenterprise chief executive Dave Smardon.
