Applications are now open for business growth and artificial intelligence projects
News release
Eligible southern Ontario businesses and organizations can now apply for support to grow, innovate and diversify, including targeted investments for artificial intelligence projects
October 22, 2024 – Ottawa, Ontario
The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) works with businesses and organizations to support strong and inclusive economic growth throughout Canada’s most populous region.
Today, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario, announced that the fall intake is open for eligible small- and medium-sized businesses, and the organizations that support them, for projects that support business growth and artificial intelligence (AI).
FedDev Ontario is delivering the national Regional Artificial Intelligence Initiative (RAII) in southern Ontario. Support is available for projects that accelerate the development of the AI sector in the region and for businesses and organizations to adopt or integrate AI to improve operational efficiency, productivity and competitiveness.
Targeted regional support is available for projects that help businesses grow, innovate and diversify so they can launch new products, compete in a changing marketplace, or reach new customers. Not-for-profit and community economic development organizations can apply for funding to support businesses, grow economic networks and strengthen the economic resilience of our communities.
Applications for all initiatives are being accepted until December 20, 2024. For more information and to apply, visit the FedDev Ontario website. Indigenous businesses and organizations are encouraged to contact the Agency’s dedicated team at 1-877-553-5507 or visit Funding and support for Indigenous businesses and organizations.
Quotes
“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. Available programming will provide more opportunities for made-in-Canada solutions that will have impacts here at home and around the world.”
– The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
Quick facts
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FedDev Ontario is one of seven regional development agencies (RDAs) across Canada, working closely with businesses and innovators in their regions to fuel economic growth that creates more well-paying middle-class jobs for Canadians.
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Canada’s RDAs are delivering $200 million through the Regional Artificial Intelligence Initiative over five years. In southern Ontario, FedDev Ontario is delivering nearly $60 million.
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Since November 2015, FedDev Ontario has invested more than $2.6 billion to support over 3,400 projects across southern Ontario. Learn more about the impacts the Agency is having in southern Ontario by exploring our investment profiles.
Associated links
Contacts
Edward Hutchinson
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
Edward.Hutchinson@feddevontario.gc.ca
FedDev Ontario
Media Relations
media@feddevontario.gc.ca
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