A father-and-son entrepreneurial team has been recognized by Innovation Initiatives Ontario North (IION) for their contributions to the North Bay economy.
Joe and Dillon Guido received IION’s 2018 Innovation Award of Excellence on Oct. 26. The award is given to an outstanding company, individual(s) or organization that has notably fostered economic prosperity in their region, through initiative and collaborative efforts to support science, technology, innovation and entrepreneurship.
Joe Guido is founder and president of Premier Mining Products, which manufactures diamond tools used in the mining industry. The company is comprised of a group of professionals with experience in the mining industry, each selected for their expertise in a specific field.
Dillon Guido co-owns and operates J&D Power Sports, which specializes in power sports such as boats and their accessories. He’s also the owner-operator of DGRP, which designs and manufactures a ramp used to easily load equipment like snowmobiles and ATVs into the bed of a pickup truck.
The award presentation followed a federal funding announcement for IION, which will receive $1.25 million for two initiatives in the Nipissing-Timiskaming and Parry Sound-Muskoka regions.
Of the funding, $800,000 will go toward Phase 4 of IION’s Step Forward Entrepreneurs Program, which provides qualifying businesses with up to $10,000 to enhance and expand their operations, commercialize new products, conduct market research and capitalize on export opportunities.
Another $450,000 will go toward IION’s Triple-P (Productivity, Prototype, Process improvements) initiative, expanding the program’s reach to assist small and medium-sized enterprises enhance productivity. Once fully implemented, Triple-P is expected to assist more than 80 Northern Ontario entrepreneurs to grow their businesses and create or maintain up to 180 middle-class jobs in the region.
“Businesses and entrepreneurs engaged in innovation are vital to the economic growth of our region,” said IION’s executive director, Rob Deline, in a news release.
“Today’s announcement clearly demonstrates confidence in our organization, while highlighting FedNor’s commitment to support technology adoption and the pursuit of innovation by businesses in Northeastern Ontario as they grow and compete in new and larger markets.
“Through strategic programs like SFEP and Triple-P, IION will continue to help businesses develop, innovate, grow and prosper."
Innovation Initiatives Ontario North is a not-for-profit organization that provides business advisory services, strategic planning advice, and helps businesses and communities to secure the resources required to foster growth and economic development in Northern Ontario.