FedNor, the Government of Canada’s economic development organisation for Northern Ontario, has pledged C$519,000 ($393,468) of investment to help the Northern Centre for Advanced Technology (NORCAT) continue to deliver its services to local entrepreneurs as well as implement an important new technology development project.
As part of this total, C$429,000 was provided through FedNor’s Regional Relief and Recovery Fund to assist NORCAT in bridging the financial gap caused by COVID-19. Specifically, the funding is helping to keep the organisation’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 C$90,000 will help NORCAT establish a technology hub to accelerate software, gaming, and app development in Greater Sudbury, FedNor said. Once fully operational, the new incubation space will help local tech entrepreneurs start-up, scale-up and access new markets.
Back in July 2019, FedNor agreed to invest C$1.4 million in the surface facility.
“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,” FedNor said. “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.”
Don Duval, CEO, NORCAT, said: “NORCAT is proud to partner with the Government of Canada, through FedNor, to ensure technology, innovation and skills training can continue to thrive in the region.
“As Northern Ontario’s largest innovation centre, we are thankful that the investment from the Regional Relief and Recovery Fund will allow us to maintain our operations, keep our community members working and allow us to continue building on our strategic initiatives to accelerate the growth of innovative companies that will drive future economic and social prosperity for Canada.”