Tuesday, June 05, 2012

Some FedDev fundings from January, February, March

FedDev has disclosed its contributions for the final quarter of the 2012 fiscal year —covering January, February and March of this year. Here are the top 10 projects for the period by dollars committed:

University Of TorontoToronto$20,000,000
Alliance Of Manufacturers And Exporters Of CanadaMississauga$18,900,000
York UniversityToronto$15,549,290
Western Ontario CFDC Association Inc.Brantford$12,000,000
Ontario Brain InstituteToronto$10,971,133
Cytec Canada Inc.Niagara Falls$10,000,000
Dr. Oetker Canada Ltd.Mississauga$10,000,000
Ivaco Rolling Mills (2004) L.P.L'Orignal$10,000,000
Eastern Ontario CFDC NetworkPeterborough$8,000,000
Royal Conservatory Of MusicToronto$7,500,000

The announcement of the $10 million repayable contribution to Dr. Oetker Canada was made on May 24 in London, but the actual funding was made two months earlier. There's often quite a lag between the funding and the announcement.

I don't think we've heard an announcement about the $12 million given to the Western Ontario CFDC Association, but two months ago they were advertising a job opening for someone to manage a business loan fund "intended to support community innovation and business development" under FedDev's Prosperity Initiative. So now we know the amount of money involved (over a two-year period). It will be interesting to see the details once the formal announcement is made. The Western Ontario CFDC Association covers an area that includes all of Southwestern Ontario.

Four of the five biggest FedDev fundings of the year took place in Q4, and U of T's $20 million was the largest of the year, edging out the University of Waterloo's $19.6 million, awarded in August.

Some other notable FedDev fundings in the quarter:

Sunnybrook Research Institute Toronto$6,910,000
Yves Landry Foundation Toronto$5,000,000
Research Innovation Commercialization Centre Mississauga $4,999,575
Vineland Research And Innovation CentreVineland Station $2,511,035
Perimeter Institute For Theoretical Physics Waterloo $1,730,000
Ontario Centres Of ExcellenceToronto $1,102,500
Primal Fusion (Primal)Waterloo $987,500
Perth County IngredientsSt. Marys $947,500
Bigroad Incorporated Waterloo $750,000
Huron Business Development Corporation Seaforth$719,154
Sarnia-Lambton Business Development Corporation Sarnia$645,000
Qwalify Inc. Waterloo $250,000

The Sunnybrook funding involves Western University as a partner and was announced last month. The CFDCs across Southern Ontario are funded through FedDev, so there are several of them on the list.

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