Through FedDev Ontario, the Government of Canada committed up to $1.2 million to Hamilton’s McMaster University to expand the makerspace of its startup incubator, The Forge.
“FedDev Ontario’s funding is providing invaluable support to the innovation community in Hamilton,” said Filomena Tassi, the Minister of Seniors and Member of Parliament for Hamilton West—Ancaster—Dundas. “The Government of Canada is proud to support McMaster – one of Canada’s premier research-intensive universities – to expand The Forge’s makerspace and allow more companies to develop and bring new products to market.”
As a result, the number of companies supported will almost double from 24 to up to 40 annually, and up to 75 new jobs will be created.
This funding will allow The Forge to expand as it moves into a 10,000-square-feet facility shared with partner Innovation Factory. Proceeds will go towards mentoring support for entrepreneurs, as well as the purchase of additional 3D printers and other fabricating equipment, and increase support to entrepreneurs through mentoring.
“This strategic investment from the Government of Canada will strengthen the entrepreneurial capacity of our region by providing McMaster’s students and the wider Hamilton community access to the centralized expertise and infrastructure so essential for creating start-ups and business growth opportunities,” said Karen Mossman, the acting vice-president of research at McMaster University and chair of the McMaster Innovation Park Board of Directors.
The cash injection will allow The Forge to almost double the number of companies it can support from 24 to up to 40 annually, with the potential to create up to 75 new jobs. McMaster claims that more than 105 tech companies have graduated from The Forge since its founding in 2014.
StartUp HERE Toronto is a publishing partner of Betakit and this article was originally published on their site.