Catapult Grey Bruce Receives FedDev Ontario Investment
Catapult Grey Bruce is receiving $345,000 from FedDev Ontario to provide acceleration and incubation services to local entrepreneurs.
The funding was announced virtually today by Marie-France Lalonde, Parliamentary Secretary to the Minister of Economic Development and Official Languages (FedDev Ontario and Official Languages). The grant is part of an $845,000-non-repayable contribution to Grey County that will enhance service offering and business programming at the Sydenham Campus Regional Skills Training, Trades and Innovation Centre in Owen Sound.
"Catapult Grey Bruce is excited to be part of this rural innovation hub. This funding will allow us to engage more entrepreneurs and provide acceleration and incubation support locally to help businesses scale and grow faster," said Catapult Grey Bruce Chairperson Courtney Denard.
Catapult Grey Bruce is a not-for-profit organization that was founded by local entrepreneurs who recognized the need for mentorship and support that accounted for the unique differences of being a rural-based entrepreneur.
Catapult launched a pilot mentorship program earlier this year and is finalizing plans to initiate its first acceleration program this fall, Fast Lane Plus, developed and licensed by Innovation Guelph.
Also announced today, Grey County is receiving $500,000 to develop a maker space and fabrication lab in Sydenham Campus. The co-location of this facility and Catapult Grey Bruce will enable future programming to help users experiment, prototype their ideas, and commercialize new products and services.
Grey County Warden Selwyn Hicks said, “Having access to the latest equipment and tools is a big advantage for our local entrepreneurs and people learning new skills. This funding is outstanding news and we are delighted the Federal Government recognizes the importance of rural entrepreneurs in Grey County.”
FedDev’s contribution of $845,000 is part of an investment of $2,664,695 into Sydenham Campus with contributions coming from the private sector and Grey County.
