Feds give $5.6 million to Genomics Ontario

 

The federal government is investing more than $5.6 million in Ontario Genomics to deliver the BioCreate program.

The program will provide seed funding and support to help genomics in the health, food and agriculture, and cleantech sectors to bring new products and technologies to market.

Participating businesses are expected to create and maintain up to 160 highly skilled jobs, as well as create eight new products, services, or processes and more than 30 new patents. 

As well, approximately 25 percent of the firms participating in the program will be directed to an investment fund, the Firehood, which connects women founders with mentors, partners and/or customers to help develop their business.