Harper Government Announces New Initiative to Support Innovation and Entrepreneurship in Western Canada
OTTAWA – Earl Dreeshen, Member of Parliament for Red Deer, is pleased to share with local entrepreneurs and business owners in Central Alberta that an exciting new Initiative was announced earlier this week by the Honourable Michelle Rempel, Minister of State for Western Economic Diversification.
“Our Government is excited to support the growth and development of western Canadian businesses,” said Dreeshen. “With the Western Innovation (WINN) Initiative, we will be able to assist our entrepreneurs in taking innovative products out of the hands of researchers and into the hands of consumers.”
Under WINN, small- and medium-sized enterprises (SMEs) secure the capital necessary to taking a product from the R&D stage to the market, such as product testing and technology demonstrations, equipment purchases and installation, regulatory approval, marketing, and intellectual property protection.
Over the next five years, WINN will provide up to $100 million in repayable assistance to businesses and entrepreneurs working to commercialize their products, processes, and services. Part of Canada’s Economic Action Plan, this initiative will provide timely to support to innovators across a range of sectors.
The Initiative is expected to help stimulate greater private sector investment, while also making it easier for innovative businesses to secure funding.
Western Economic Diversification Canada, in partnership with the provinces, businesses, industry associations, and communities, promotes the development and diversification of the western economy, coordinates federal economic activities in the West and advances the interests of western Canadians in national decision-making.
SMEs interested in applying can find more information on WD’s website: www.wd-deo.gc.ca