I.D.E.A Fund

Overview of the I.D.E.A Fund program:

The i.d.e.a. Fund (Inclusion, Diversity, Environment, Acceleration) is a unique, entrepreneur-first funding initiative designed to foster an inclusive economy and support the development and commercialization of environmentally sustainable solutions. Delivered through TechAlliance of Southwestern Ontario and five other Regional Innovation Centres (RICs) across Southwestern Ontario, this program is supported by the Government of Canada through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). It provides high-potential businesses with funding, targeted mentorship, and access to specialized resources to grow and scale innovations that create a positive environmental impact. Now entering Cohort 3, the i.d.e.a. Fund continues to focus on empowering entrepreneurs who are creating solutions that advance clean growth technologies and sustainable development goals. Participating businesses benefit from individualized business advisory services, growth coaching, peer support, and the opportunity to pitch to potential funders. In addition to financial support, the program promotes the advancement of underrepresented groups in entrepreneurship—including women, Indigenous Peoples, racialized communities, 2SLGBTQIA+, newcomers, and persons with disabilities—by embedding equity, inclusion, and diversity into its structure. The program specifically prioritizes business ventures that are mission-driven and environmentally responsible, with scalable market potential.

Benefits of the I.D.E.A Fund program:

• Non-repayable funding of up to $30,000 with a required 1:1 match.
• Up to 40 hours of expert mentorship and business advisory services.
• Support in developing environmentally sustainable solutions and validating environmental impact.
• Access to a network of regional innovation centres and clean-tech resources.
• Equity, diversity, and inclusion focus, with programming designed to empower underrepresented entrepreneurs.
• Opportunities to pitch to investors and expand market reach.
• One-on-one guidance to scale innovations and commercialize sustainably.

Eligibility criteria of the I.D.E.A Fund program:

• To be eligible for the i.d.e.a. Fund, applicants must meet the following criteria:
• Business Location: Operate in Southwestern Ontario and be affiliated with a participating Regional Innovation Centre.
• Business Stage: Must be a small- or medium-sized enterprise (SME) with a strong potential for growth and market impact.
• Contribution Match: Must contribute an equal matching amount of up to $30,000, which can be in cash or eligible in-kind.
• Environmental Innovation: Must have an innovation or product that creates positive environmental outcomes (e.g., clean technology, waste reduction, carbon reduction, sustainable processes).
• Inclusive Values: Preference is given to companies led by underrepresented groups, or those with inclusive hiring and impact practices.
• Corporate Status: Must be incorporated and have an eligible business number.
• Program Readiness: Must demonstrate readiness to scale and participate in advisory and coaching sessions.