IION is receiving an injection of $1.25 million in funding from the Federal government.
IION, short for Innovation Initiatives Ontario North, based out of the Canadore College Commerce Court Campus, will use the new money to help expand a pair of priority initiatives in the Nipissing-Timiskaming and Parry Sound-Muskoka regions.
Anthony Rota, Member of Parliament for Nipissing–Timiskaming, made the announcement today on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor.
“This funding supports two key programs led by IION that will ensure small and medium-sized enterprises have continued access to the tools and resources they need to develop, grow and thrive in the modern economy,” stated Anthony Rota, Member of Parliament for Nipissing–Timiskaming, in a release.
Specifically, a FedNor investment of $800,000 will support Phase 4 of IION’s popular Step Forward Entrepreneurs Program (SFEP). Building on the success of the first three phases of SFEP, this strategic initiative will provide qualifying businesses with up to $10,000 to enhance and expand their operations, commercialize new products, conduct market research and capitalize on export opportunities.
In addition, a FedNor contribution of $450,000 will enable IION to respond to the growing demand for the organization’s Triple-P (Productivity, Prototype, Process improvements) initiative and expand the program’s reach to assist even more small and medium-sized enterprises enhance productivity.
The Triple-P initiative is expected to assist more than 80 Northern Ontario entrepreneurs to grow their businesses and create or maintain up to 180 middle-class jobs in the region.
“Today’s announcement clearly demonstrates confidence in our organization, while highlighting FedNor’s commitment to support technology adoption and the pursuit of innovation by businesses in Northeastern Ontario as they grow and compete in new and larger markets,” said Rob Deline, Executive Director at IION.
“Through strategic programs like SFEP and Triple-P, IION will continue to help businesses develop, innovate, grow and prosper."
