Province invests $2.4 million to advance auto tech in Hamilton
Published January 13, 2023 at 3:12 pm
Hamilton’s Innovation Factory received $2.4 million from the Ontario government this week to advance the automotive, transportation, smart infrastructure, and energy industries.
Vic Fedeli, the province’s Minister of Economic Development, Job Creation, and Trade, took a tour through Innovation Factory on Longwood Rd.
The not-for-profit business accelerator is home to the Centre for Integrated Transportation and Mobility (CITM), which helps companies advance their electric and autonomous vehicle innovations.
The government investment will allow the CITM to expand programs and services.
“The continued investment in CITM has enabled our team to deliver on its commitment to support and develop Ontario-based (small and medium-sized enterprises) through enhanced resources and expertise,” said David Carter, Executive Director of Innovation Factory. “Our partnership with (the Ontario Vehicle Innovation Network) helps us expand our partner ecosystem and promote collaborations between emerging companies and industry leaders.”
As part of the Ontario Vehicle Innovation Network (OVIN), Innovation Factory established CITM in 2018 to provide business and technology advisory services, resources, and collaboration opportunities to start-ups and small and medium-sized enterprises developing smart and sustainable transportation innovations.
It also promotes innovation and economic growth in Hamilton.
“Our government is proud to support business accelerators like Innovation Factory, who are helping Ontario-based innovators, start-ups and SMEs focused on electrified, connected and autonomous vehicle innovations launch, scale and succeed,” said Minister Fedeli. “With support from our OVIN program, Innovation Factory will be able to expand its programs and services, strengthening the technology sector in Hamilton.”insauga's Editorial Standards and Policies advertising