WD launches $100-million tech fund for SMEs

Western Economic Diversification Canada (WD) is introducing a $100-million, five-year fund to help western-based small- and medium-sized enterprises (SMEs) develop, validate and market new products in a range of technology sectors. The Western Innovation Initiative (WINN) will provide 50 cent dollars to each project, matched with private sector funding. WINN funds are repayable to a maximum of $3.5 million per project and no one applicant can receive more than $7.5 million from the program. It targets the health, life sciences, clean tech, aerospace, energy, defence, nanotechnology and information and communications technology sectors. Projects can involve the introduction or improvement of a new product, process or service, technology development/acceleration, product certification, pilots and demonstrations, validation of market potential and support directly related to commercialization. WINN will hold competitions twice annually and is expected to be made permanent....