Archive for year: 2021
Rural innovation and growth in Southern Ontario
FedDev Ontario is dedicating $100 million over the next three years, from its funding streams, for projects in rural southern Ontario that:
- Promote business scale-up and diversification;
- Lead to increased business, talent and investment attractions
- Foster innovation, technology adoption and digital connectivity;
- Leverage local assets;
- Connect smaller communities to the globally competitive economies.
Support is available to businesses, not-for-profit organizations, Indigenous organizations, economic development organizations, including Community Futures Development Corporations that are driving innovation and growth, municipalities and other innovation enablers located in rural southern Ontario.
Scope & Objectives
The Community Economic Development and Diversification Stream aims to develop, diversify and transform local economies by promoting small business development, community innovation and strategic collaborations.
Through this Stream, FedDev Ontario seeks to enable communities to leverage their economic strengths and unique assets to:
- Enhance business attraction, investment, retention and employment opportunities in southern Ontario communities.
- Develop and expand collaborative efforts that strengthen regional competitiveness.
- Support regional businesses, hubs and communities with the goal of economic diversification, integration and transformation.
FedDev Ontario will make targeted investments to support the development and diversification of communities, including those in transition or facing economic hardship and decline. These investments aim to generate sustainable, inclusive growth and help small and rural communities in southern Ontario to fully participate in, and benefit from economic opportunities.
II. Eligible Activities
FedDev Ontario is targeting investments structured around the following activities:
Strengthening Community Ecosystems
Projects will normally enable not-for-profit organizations to improve economic outcomes by addressing gaps or opportunities in the community, and support the advancement of underrepresented groups.
Examples of eligible project activities could include:
- Developing and/or expanding collaborations that: connect smaller communities with larger firms or supply chains in urban centres, innovation centres, business consortia or other innovation platforms; enable communities or firms to work with post-secondary and research institutions; and/or, support small communities to attract investment to their region.
- Business attraction, growth and retention programs and services, including supply chain development and succession planning.
- Business incubators and accelerators addressing needs at a sub-regional or community level.
- Supporting businesses through programs and services, including training and mentoring.
- Development of new technologies, processes, prototypes, testbeds and/or commercially relevant technology platforms.
- Improving the availability of risk capital in the region, including by establishing or capitalizing an investment fund.
- The implementation of community and/or regional action plans.
Businesses Supporting Resilient Communities
Projects will normally support legally incorporated businesses that foster community economic diversification and transformation. These projects would improve productivity, capacity and competiveness of businesses to increase employment and growth opportunities, as well as enhance the resilience of communities.
Examples of eligible project activities could include:
- Facilities improvement or expansion to support greater economic diversification.
- Adoption of new equipment.
- Market development, diversification and expansion.
Other activities deemed reasonable to support the transformation and diversification for communities facing economic challenges.
We can help with your strategy & submission: info@thesectorinc.ca
Western Ontario Community Futures Development Corporation Association (WOCDFCA) set up by FedDev Ontario aims to support the growth of small- and medium-sized enterprises in southwestern Ontario. It offers business services & business financing to small & medium-sized startup companies in Southwestern Ontario.
WOCFDCA has 20 Community Futures Development Corporations (CFDCs) located throughout Southwestern Ontario that have been helping owners of small to medium-sized businesses for over 25 years
At WOCFDCA, they actively encourage and pursue ways to assist small to medium businesses in Southwestern Ontario through the implementation of the Community Futures Development Corporations (CFDCs). There are 20 of these CFDCs located throughout the region in order to help enterprises grow in relation to the needs of their communities.
Each CFDC has personal mandates that are specific within the community in which they serve. However, similar goals of each CFDC include the desire to create jobs, help small and medium business owners thrive, and implement initiatives that will promote community development.
The CFDC program is nothing new. Organizations like these have been in operation throughout Southwestern Ontario for over 25 years. Until just recently, these CFDCs collaborated on an as-needed basis and worked together in smaller regions. However, on September 29, 2011, twenty of these CFDCs made the decision to combine three of their regions and form WOCFDCA.
Now that the efforts of the CFDCs throughout the region have been combined, their approach to helping business owners in their communities is more standardized and successful. However, each CFDC is still operated in accordance with the needs of those that come to them. For example, each CFDC is composed of a board of directors that come from the same community in which they serve. This way, the programs and services that each individual CFDC offers local businesses are catered to the needs of those living in their community.
#funding #entrepreneurship #financing #investing #impactinvesting #sdgs #socialimpact #socialentrepreneurship #mba #consulting #thesectorinc #bradfordturner #wbs
During the Ontario 2021 Budget, it was announced that a pool of funding would be allocated through the creation of a new funding agency called Invest Ontario. This new agency is being built to increase Ontario’s global competitiveness in attracting businesses from around the world to establish themselves in the province.
Ontario is Open for Business.
Invest Ontario will be the central agency for businesses and investors to discover what others from around the province and globe have already realized – that Ontario is a top-tier destination for investment and strategic business growth. The new agency will drive greater economic growth, support strategic domestic firms and attract business from around the world.
Whether already located in Ontario and looking to grow, or considering Ontario for the first time, Invest Ontario will provide the business development and planning expertise needed business thrive. By investing in Ontario, companies will benefit directly from Ontario’s high quality of life, highly skilled talent pool, competitive business costs, access to global markets and strong innovation ecosystem.
As Ontario continues to reopen for business, Invest Ontario will initially focus on three strategic sectors where the province has a global competitive advantage — advanced manufacturing, life sciences, and technology — all while moving at the speed of business. .
Invest Ontario Board Members
The Chair of Invest Ontario is Elyse Allan, an accomplished executive with experience in driving growth, technology, and innovation. The board members have been chosen to help bring extensive experience and expertise in advanced manufacturing, technology, and life science sectors that serve as initial areas of focus for the agency. These board members include Anna Barrett, Janet Ecker, Ernie Eves, Cecil Hawkins, Andrew MacLeod, Joseph S. Mancinelli, Gadi Mayman, Carmine Nigro, Ajay Virmani, and James Wallace.
These members will report to Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade and will advise on key opportunities to showcase the province’s unique value propositions in an increasingly competitive global marketplace.
In this session, socially purposed entrepreneurs will gain insight into strategies and approaches to measure their impact.
About this Event
How can you tell If your brilliant idea to change the world is working? Impact measurement, although sometimes difficult, is vital for us to communicate to our stakeholders (customers, beneficiaries, key partners, donors, and/or investors) and confirm if the world-changing idea is doing just that. Socially purposed organizations and entrepreneurs are invited to hear about an organization’s learnings and the results of transitioning to data-driven service delivery. Attendees will gain insight into strategies and approaches to measure their impact.
Learn more about the speakers
About Robbie Babins, CEO, Calgary Counselling Center
Over the course of her 35-year career, Dr. Robbie Babins-Wagner, PhD, RSW, has transformed the way Albertans receive, perceive and deliver mental health services. With her outstanding leadership as CEO of Calgary Counselling Centre, she has been leading the industry and the province in best practices in mental health services, stigma reduction, research and training. An entrepreneur and innovator in the field of mental health, Robbie has worked to ensure that Albertans have access to effective and affordable mental health programs. Since 1986, her extensive contributions have led to fundamental changes within the mental health sector.
About Bradford Turner, Founder and Managing Director, The Sector Inc.
Bradford Turner founded the Sector Inc. in 2015 and is now the Managing Director. He has provided guidance and counsel to social enterprises, charities, iNGO’s, and governments for over 15 years. Additionally, he has held executive leadership positions in a variety of organizations. Past roles include Executive Director at Toronto Workforce Innovation Group; Director, Impact Investments at Engineers Without Borders Canada, and Senior Manager, Impact Investing and Social Finance at Save the Children Canada.
Beena Tharakan, Principal Consultant, The Sector Inc.
Beena Tharakan is Principal Consultant at The Sector Inc with over 15 years of experience at IBM, Deloitte and EY providing management consulting across the health and human services sectors to provide strategic and operational advice on improvement and innovation initiatives. She is currently completing an advanced academic program in Government Analytics at Johns Hopkins University. Beena understands the power of data in shaping programs to create positive, sustainable social impacts and is passionate about harnessing data science for social good. She has a wealth of experience advising government, policy makers and service providers on program design. She fully appreciates the benefit of using innovative technologies to produce meaningful analysis for evidence-based decision-making.
Register here: https://www.eventbrite.ca/e/measuring-what-matters-tickets-148826099871
#impactivesting #socialenterprise #venturecapital #fundraising #publicsector #consulting #mba #wbs #toronto #canada #sdgs #socialinnovation #thesectorinc #bradfordturner #beenatharakan