After my recent post on US government investment in Maine, here’s one from the Government of Canada with a $12 million funding to Bioindustrial Innovation Canada (BIC) to create 478 full-time equivalent jobs and result in 250 new industrial collaborations, especially among small and medium-sized businesses. The funding is going to be used to support the $27 million Centre for the Commercialization of Sustainable Chemistry Innovation (COMM SCI), launched by BIC and to be located at the Western Sarnia-Lambton Research Park, to provide businesses with the help they need to bring new products from final testing to market much faster.
The non-repayable contribution made through FedDev’s Ontario’s Investing in Regional Diversification (IRD) initiative, will also support small and medium-sized businesses access to the investment money they need to scale-up.
BIC and their partners will raise a minimum $12 million in matching contributions, and will also receive a $3 million grant from the Province of Ontario. COMM SCI will be the Ontario anchor and hub for the commercialization and collaboration of new clean technologies and technology companies in sustainable chemistry and bio-based innovation.