The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has opened the fall intake for funding applications aimed at boosting economic growth and fostering innovation in Canada’s most populous region.
The announcement was made by Filomena Tassi, Minister responsible for FedDev Ontario. The initiative focuses on supporting small and medium-sized businesses and organizations that help these enterprises grow and adopt innovative technologies. Funding is available for projects related to business expansion and advancements in artificial intelligence (AI) within the region. As part of the national Regional Artificial Intelligence Initiative (RAII), the program aims to accelerate the development of AI capabilities and facilitate the adoption of AI solutions to enhance productivity, competitiveness, and operational efficiency.
“With this new funding, we are continuing to foster the right environment for our businesses and the organizations that support them, while also accelerating the growth of key sectors and bringing new innovative technologies to market, including in AI,” said Minister Tassi. She emphasized that the initiative would help create more opportunities for “made-in-Canada solutions” with both local and global impacts.
The funding opportunities are open to both businesses and non-profit community development organizations. Eligible projects include those that aim to launch new products, adapt to market changes, or explore new market opportunities. Additionally, community-based organizations can apply for financial support to enhance local economic networks and contribute to regional resilience.
FedDev Ontario is one of seven regional development agencies (RDAs) across Canada. These agencies work closely with businesses and innovators in their regions to fuel economic growth and create more well-paying middle-class jobs for Canadians. Over five years, RDAs will deliver $200 million through the RAII. In southern Ontario, FedDev Ontario is delivering nearly $60 million.
Applications are accepted until December 20. The FedDev Ontario website has more details and application forms. The agency also encourages Indigenous businesses and organizations to explore dedicated support by contacting a specialized team at 1-877-553-5507 or visiting the relevant section on the FedDev Ontario website.