London, one of Canada’s fastest-growing cities, boasts strengths in agri-food, advanced manufacturing, digital technologies, and health and life sciences. The Government of Canada is committed to supporting businesses and organizations that drive sustainable growth and innovation, aiming to build a resilient and prosperous future for southern Ontario’s economy.
Peter Fragiskatos, Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship, visited TechAlliance of Southwestern Ontario to announce a $3.5 million investment to launch Polaris, on behalf of Minister Evan Solomon. Polaris, led by TechAlliance, is designed to help high-potential firms develop advanced technological solutions across sectors including artificial intelligence, cybersecurity, medical technologies, digital health, agricultural technologies, clean growth, housing manufacturing, and zero-emissions vehicles.
The project offers entrepreneurs comprehensive support, including training initiatives, mentorship, advisory services, seed funding, leadership development, and coaching. Polaris is expected to support the growth of over 115 high-potential firms, bridge gaps between rural and urban communities, foster sustainable job creation, encourage clean technology adoption, and enhance global competitiveness for participating businesses.
Officials emphasized the importance of this investment for driving innovation, creating jobs, and strengthening the regional economy. Minister Evan Solomon highlighted that supporting organizations like TechAlliance empowers businesses to develop cutting-edge Canadian solutions, strengthening global competitiveness. Parliamentary Secretary Peter Fragiskatos noted that Polaris will drive innovation and sustainability while supporting local businesses and jobs. Deputy Government House Leader Arielle Kayabaga emphasized the impact on local entrepreneurs and the creation of solutions that benefit Canadians, while TechAlliance CEO Christina Fox described Polaris as a transformative investment that maximizes economic opportunities and fosters growth for startups and scale-ups in southwestern Ontario.
London is recognized as a national test market city, providing an ideal environment for companies to pilot and refine new products before scaling. TechAlliance, incorporated in 2000, plays a pivotal role in supporting startups and high-potential firms through various programs. Polaris will extend its support to businesses across London and the surrounding counties of Lambton, Huron, Elgin, Oxford, and Middlesex, strengthening the regional innovation corridor.
Previously, TechAlliance delivered the FedDev Ontario-supported i.d.e.a. Fund, helping businesses adopt sustainable practices, launch new products, and create high-quality jobs. Since November 2015, FedDev Ontario has invested nearly $70 million in over 95 projects in the London region, supporting more than 1,700 jobs.
