BIC gets $12M from FedDev for bio-based innovation in Sarnia
Accelerator will help SME’s bring biomass chemicals and energy projects to market faster.
SARNIA, Ont. — Bioindustrial Innovation Canada (BIC) is getting $12 million in funding from FedDev Ontario to support the Sarnia area’s sustainable chemistry and bio-based industrial sector.
The Sarnia, Ont. accelerator based at the Sarnia Lambton Campus of the Western University Research Park has been set up to bridge the gap between research and the marketing of chemicals and energy production from biomass.
The investment aims to create 478 jobs as it helps to develop 250 new industrial collaborations, especially among SMEs.
The funding will support the Centre for the Commercialization of Sustainable Chemistry Innovations, which will help businesses speed up the commercialization of new products from final testing to market.
Part of the non-repayable funding will help SMEs access the investment money they need to scale-up their businesses.
Since 2009, BIC has invested $5.5 million in 13 small- and medium-sized businesses in the region, including BioAmber Inc., an anchor firm of the region’s sustainable chemistry and bio-based manufacturing sector.