Life sciences companies in the Kingston area got a funding boost from the federal government yesterday.
The Kingston Economic Development Corp. received $3.4 million from FedDev Ontario to help life sciences companies commercialize and scale-up. The organization will offer the Kingston Life Sciences and Helix Funding initiatives, as well as establish a new wet lab space at Providence Care Hospital. The project is expected to support more than 100 businesses, FedDev said in a news release.
“This investment from FedDev Ontario is transformative for Kingston and Eastern Ontario’s life sciences sector,” said Donna Gillespie, CEO of the Kingston Economic Development Corp. “By expanding access to critical wet lab space and enhancing business programming, we are strengthening the region’s capacity for innovation and commercialization.
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“The Kingston Life Sciences and Helix Funding initiatives will provide essential support for scaling life science startups and small and medium enterprises, ensuring they have the resources needed to grow and thrive,” she added. “This new initiative will take Kingston’s life sciences to the next level and reinforce Kingston’s role as a hub for cutting-edge health innovation.”
The government also announced Wednesday approximately $400,000 for le Centre de services à l’emploi de Prescott-Russell Inc. in Hawkesbury to enable it to expand its services for small and medium-sized enterprises (SMEs). The project will help up to 150 SMEs attract and retain newcomer francophone or bilingual workers, according to the release.
