Government Grants/Loans in Northern Ontario

Government Loan for Software Development in Northern Ontario

Nipissing-Timiskaming Ontario, October 31st, 2013

FedNor, a department of the Canadian Government created to foster economic development in Northern Ontario , announced an upcoming funding investment to create jobs and support development and growth in the technology and innovation sectors of Northern Ontario.

A repayable FedNor contribution of $500,000 has been provided to Funding Matters Inc., in partnership with Canadore College. The intention of this government loan is to help the Northern Ontario company develop software for the charitable financing industry and related online and mobile areas.

The investment will be used to hire a local project team to further the development of the GIFTABULATOR app and other new software and tools. Funding Matters Inc. will have the support it requires to create 10 new technology-related jobs and expand its North Bay operations by opening a new research, development, and marketing office in the community.

“We are very excited to partner with FedNor and the Government of Canada to expand our North Bay operations and enhance our product offerings,” said William Petruck, President of Funding Matters Inc. “Today’s announcement will help us grow our business, create jobs, expand into new markets and continue to deliver innovative services to our clients.”

The funding has been provided through FedNor’s Northern Ontario Development Program, which is intended to support projects that strengthen community economic development, enhance business development and growth, and facilitate innovation throughout the region. FedNor is one of several government agencies responsible for funding business projects in Ontario,

TAGS: GOVERNMENT GRANTS, GOVERNMENT GRANTS FOR BUSINESS, ONTARIO GRANTS, ONTARIO  LOANS, ONTARIO BUSINESS FUNDING, CANADIAN GOVERNMENT BUSINESS GRANTS, GOVERNMENT LOANS, GOVERNMENT, SECURED LOANS, GOVERNMENT FUNDING, BUSINESS NEWS, GOVERNMENT GRANTS CANADA, CANADIAN GOVERNMENT GRANTS, ONTARIO NEWS

Government Grants/Government Loans for Biolyse Pharma

 

Government of Canada invests in Ontario Drug Company

St. Catharines, Ontario September 26, 2013

The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), alongside Rick Dykstra, Member of Parliament for St. Catharines, today announced a Government of Canada investment that will allow Biolyse Pharma to expand its facilities and product line of injectable chemotherapy drugs.

“Today, our Government’s commitment to investing in the development of a supportive environment for the region’s pharmaceutical manufacturing cluster is being showcased,” said MP Dykstra. “Getting our small- and medium-sized businesses the tools they need to stay productive and competitive is imperative.”

St. Catharines-based Biolyse Pharma produces generic chemotherapy and anti-cancer drugs for Canadian and international markets. Through FedDev Ontario’s Prosperity Initiative, Biolyse Pharma will receive an investment of up to $2.9 million to complete an expansion of its facilities and production capacity. This project is expected to create up to 59 new highly skilled full-time jobs, allowing the company to reach new markets and increase product diversification. “The significance of this repayable contribution is an encouragement to Biolyse to move forward with its development program, which will expand its line of vital medicines made by Canadians for Canadians,” said Claude Mercure, Owner of Biolyse Pharma.

TAGS: GOVERNMENT GRANTS, GOVERNMENT GRANTS FOR BUSINESS, ONTARIO GRANTS, ONTARIO LOANS, ONTARIO FUNDING, CANADIAN GOVERNMENT BUSINESS GRANTS, GOVERNMENT LOANS, GOVERNMENT, SECURED LOANS, GOVERNMENT FUNDING, BUSINESS NEWS, GOVERNMENT GRANTS CANADA, CANADIAN GOVERNMENT GRANTS