Four Sault Ste. Marie organizations are the beneficiaries of recent FedNor funding announcements worth more than $540,000.
The largest chunk went to Algoma University, which received $218,750 to go towards new lab equipment and a research and development lab at the Sault Ste. Marie Innovation Centre.
The innovation centre, meanwhile, received $200,000 for the Innovation Accelerator Program, which will provide small and medium-sized enterprises with up to $5,000 toward projects that will grow their businesses, develop new products and seize market opportunities.
“These local initiatives will help support the specific needs of growing businesses in the region,” Algoma president Richard Myers said in a news release. “Furthermore, FedNor's investments will build on the community's demonstrated niche strengths in the information technology and science-based sectors.”
The City of Sault Ste. Marie received $100,000 to hire a consultant to complete a market assessment and business case for the development of a public harbour.
ServiceProbe Ltd. received $22,850 to hire a youth intern, who will integrate a new software module, enabling the company to offer a comprehensive suite of web-based training and development products and services.
“These initiatives will accelerate the development and growth of businesses in our region, helping them reach their full potential and become more productive and competitive,” Sault MP Bryan Hayes said in the release.
Funding comes through the Northern Ontario Development Program.
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