FedDev Ontario investing $5.2 million for CME to deliver program to help small and mid-size businesses
Called the Technology Assessment Program, CME will provide up to 175 SMEs in southern Ontario with in-depth productivity and technology assessments designed to encourage investments in new technologies.
Canada’s federal government is providing approximately $5.2 million to the Canadian Manufacturers & Exporters (CME) trade association for a new program designed to benefit small and medium-sized manufacturers in southern Ontario.
The investment is being made through the government’s FedDev Ontario agency.
Called the Technology Assessment Program, CME will provide up to 175 SMEs in southern Ontario with in-depth productivity and technology assessments, aimed at stimulating investments and the adoption of new technology solutions. In a March 10 statement, the government said that these assessments “will position businesses to improve their overall productivity, grow and diversify into new markets, increase competitiveness and bring higher-paying jobs and skills into southern Ontario.”
CME will collaborate with the Windsor-Essex Regional Chamber of Commerce to deliver the program to approximately 35 manufacturers in the Windsor-Essex region.
FedDev Ontario’s support for the Technology Assessment Program is expected to generate up to $40 million in follow-on investments, the statement said. Eligible businesses will receive an assessment by a vetted technical Qualified Service Provider valued at up to $25,000.
“Manufacturing is the backbone of many communities across southern Ontario,” the statement said. “Advancements such as Industry 4.0, artificial intelligence, machine learning, robotics, and Internet of Things are driving this industry into the future. To remain competitive in the global economy, manufacturers need to continually innovate and embrace new technologies. However, many smaller manufacturers delay adopting new technology because of the risk of making large, upfront investments with uncertain return.”
“This program will help manufacturers adopt new technologies sooner and access its wide range of potential benefits like lower operating costs, increased product quality, higher innovation capacity and, increased customer satisfaction,” said the Honourable Mélanie Joly, Minister of Economic Development and Official Languages.
For more information on the program, including how to apply, visit CME’s website.