8 BC cleantech firms secure seed funding from Sustainable Development Technology Canada
Audette and Moment Energy were among the recipients.
As part of its Seed Fund Program, Sustainable Development Technology Canada announced funding of $3.8M for 38 promising new cleantech companies across Canada. Eight of the companies are BC-based.
The Seed Fund Program supports promising early-stage Canadian cleantech entrepreneurs by providing grants of $50,000 to $100,000 to innovative technology projects with the potential for important environmental sustainability. Seed Fund applicants are nominated by SDTC’s partnership of Canadian accelerators, incubators and entrepreneurial service organizations.
The cross-country funding is meant to showcase the regional diversity of Canadian entrepreneurs. What’s more, according to SDTC, the announcement also includes the largest cohort of women-led firms approved in a single seed fund round, representing 32% of the funded companies.
The funded firms span data technologies, IoT, lab-cultivated meat, satellites and space, and more.
“In their early stages of growth, businesses have the biggest challenges ahead of them,” said Leah Lawrence, president and CEO of SDTC, in a statement. “At SDTC we are proud to support and invest in small Canadian cleantech businesses to help them reach their full potential.”
The BC companies that are receiving funding are noted below with the accelerator partner that nominated each company also listed.
Ava Technologies Inc., supported by Alacrity Foundation of B.C., has developed AI-powered smart gardens that enable customers to grow their own fresh, nutritious produce on a micro-scale indoors at home.
SDTC said its also working in partnership with the Innovation Asset Collective (IAC) on supporting the companies to develop intellectual property (IP) knowledge and strengthen their strategic positions and IP portfolios. SDTC’s new Seed Fund cohort will be offered complimentary associate membership with IAC.
“We congratulate each of these entrepreneurs as they realize their visionary cleantech ideas, which will create well-paying jobs across the country and contribute to the fight against climate change,” said the Honourable François-Philippe Champagne, minister of innovation, science and industry, in a statement. “These SDTC Seed Fund investments will further position Canada as a global cleantech leader and help build a cleaner, more resilient and sustainable future for all Canadians.”
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