Over $7.5 million in
PrairiesCan funding creates opportunities and connects Manitoba to the world.
WINNIPEG, MB, June 28,
2024 /CNW/ - The Government of Canada is committed to building a strong,
sustainable, and competitive Prairie economy that leaves no one
behind.
Today, the Honourable Dan Vandal, Minister for PrairiesCan,
announced strategic investments of over $7.5
million to help four Manitoba organizations continue to grow and
thrive, and showcase the Government of Canada's priority of advancing trade,
infrastructure, and new markets that propel Manitoba forward while ensuring the province's
workforce has the training and tools needed to compete and win.
Manitoba is home to several
world-class export clusters that produce high quality products.
Clusters include digital industries within the creative and
financial sector, heavy equipment manufacturing cluster that
develops zero-emission technology, agriculture and ag-equipment,
aerospace, transportation and logistics, and biosciences.
Investments announced today through the Regional Innovation
Ecosystem (RIE) program and the Jobs and Growth Fund (JGF)
support projects that are showing positive results and
contributing to building on Manitoba's economic strengths.
Quotes
"The economic well-being of Manitoba depends on exports and trade. Last
year, Manitoba companies exported
close to $21 billion, and we are
supporting that momentum by investing in infrastructure and people,
attracting capital, and moving the next big ideas to market. The
investments announced today will further connect Manitoba to the world and bring new
opportunities to our people, industries, and communities."
–The Honourable Dan Vandal, Minister for PrairiesCan
"We are grateful to PrairiesCan for their commitment to
enhancing Manitoba's economic
development ecosystem and investment-readiness. With support from
PrairiesCan, CentrePort has been able to build new relationships
within the advanced manufacturing and value-added agriculture
sectors. We are actively working with companies that we engaged
with through this project to help them establish or expand their
operations at CentrePort."
–Carly Edmundson, President and CEO, CentrePort Canada
Inc.
"Manitoba is known globally for
ground-breaking artists and entrepreneurial music companies.
Expanding export activity, developing markets, and facilitating
business connections is the core of Manitoba Music's development
work and critical to creating new pathways to success for our
sector. Thank you to the Government of Canada for recognizing the value and impact of
our province's music industry and working with us to build a strong
future."
–Vanessa Kuzina, Executive
Director, Manitoba Music
"PrairiesCan's investment has been pivotal in transforming our
Founders Program for tech startups and launching initiatives like
WiLab (Women in Innovation Lab), AMLab (Advanced Manufacturing
Lab), and the North Forge Angel Network. These programs help
entrepreneurs attract capital, empower women, and fuel innovation.
Since September 2022, PrairiesCan has
enabled us to support 120 startups, helping them raise over
$8.5 million and achieve $7.7 million in revenue growth. Success stories
like ConstructionClock and Win-Shield Devices highlight our
significant impact. Our WiLab has supported 217 women,
demonstrating our unwavering commitment to a diverse and inclusive
entrepreneurial ecosystem."
–Joelle Foster, President
& CEO, North Forge Technology Exchange
"Our partnership with PrairiesCan has enhanced our foreign
direct investment (FDI) and talent attraction efforts, allowing us
to leverage sophisticated market intelligence tools and better
serve businesses. We've increased leads in our investment pipeline
and established a sustainable talent pipeline, connecting
businesses with expertise locally and internationally. This dual
approach has enabled us to compete on the global stage, keeping
Manitoba top-of-mind for
investment and talent. We are grateful for our partnership with
PrairiesCan as well as the contributions from the provincial
government, which have helped us build a sophisticated economic
development infrastructure to drive long-term job creation and
capital investment in our region."
–Ryan Kuffner, President
and CEO, Economic Development Winnipeg
Quick facts
- PrairiesCan makes strategic investments aimed at building a
strong, competitive Canadian economy. This results-focused
announcement showcases the positive impact of that funding.
- Working together with our ecosystem partners helps to connect
Manitoba to the world, while also
bringing global opportunities to Manitoba.
- The Regional Innovation Ecosystems (RIE) program makes targeted
investments in not-for-profit organizations that support businesses
in priority sectors to innovate, grow and compete globally. RIE is
open to not-for-profit organizations that support businesses,
innovators, and entrepreneurs, for start-up, growth, productivity,
technology commercialization, technology adoption, export, and
investment attraction.
- The Jobs and Growth Fund provides funding to businesses and
organizations to help create jobs and position local economies for
long-term growth. PrairiesCan is investing $122.9 million to help job creators and the
organizations that support them to future-proof their businesses,
build resiliency and prepare for growth by transitioning to a green
economy, fostering an inclusive recovery, enhancing
competitiveness, and creating jobs across the Prairies.
Backgrounder
The Government of Canada is
investing $7,501,784 to support five
projects in Manitoba.
This strategic funding will contribute to building a strong,
competitive economy while placing a focus on workforce development,
innovation, and trade.
Regional Innovations Ecosystem Program (RIE) – Investment of
$5,662,000
The RIE program
makes targeted investments in not-for-profit organizations that
support businesses in priority sectors to innovate, grow and
compete globally. RIE is open to not-for-profit organizations that
support businesses, innovators, and entrepreneurs, for start-up,
growth, productivity, technology commercialization, technology
adoption, and export and investment attraction.
- North Forge ($2,070,000)
Enhance incubator/accelerator programming to grow the Manitoba innovation ecosystem. To date, 120
Small- and Medium-Sized Enterprises (SMEs) or startups have raised
over $8.5 million with over
$7.7 million in revenue growth.
- Economic Development Winnipeg (EDW) ($2,500,000)
Develop marketing initiatives to strengthen Foreign Direct
Investment. Through this investment, EDW aims to attract foreign
companies to fill gaps in key Manitoba sectors.
- Manitoba Music Industry Association ($1,092,000)
Increase export market development and business growth of
Manitoba-based music companies.
This investment has resulted in artists being signed and
Manitoba songwriters being
published.
Jobs and Growth Fund (JGF) – Investment of $1,859,784
The JGF provides funding to
businesses and organizations to help create jobs and position local
economies for long-term growth. PrairiesCan is investing
$122.9 million to help job creators
and the organizations that support them to future-proof their
businesses, build resiliency and prepare for growth by
transitioning to a green economy, promoting an inclusive recovery,
enhancing competitiveness, and creating jobs across the
Prairies.
- CentrePort Canada ($260,000)
Work to build supply chain efficiencies for CentrePort as well as
other companies in Manitoba. As a
direct result of this investment, more than
50 business development meetings were held thanks to a proactive
outreach and two open leads are in progress with companies
exploring development opportunities at the inland port.
- Economic Development Winnipeg ($1,579,784)
Implement a jobs portal and talent services to support key sectors
in Manitoba. This is resulting in
Manitoba being positioned as a
leader in the creative sector.
Associated links
- Prairies Economic Development Canada (PrairiesCan)
- Regional Innovations Ecosystem Program
- Jobs and Growth Fund
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Toll-Free Number: 1-888-338-9378
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impaired): 1-877-303-3388
SOURCE Prairies Economic Development Canada