Over $7.5 million in PrairiesCan funding creates opportunities and connects Manitoba to the world.

WINNIPEG, MB, June 28, 2024 /CNW/ - The Government of Canada is committed to building a strong, sustainable, and competitive Prairie economy that leaves no one behind.

Today, the Honourable Dan Vandal, Minister for PrairiesCan, announced strategic investments of over $7.5 million to help four Manitoba organizations continue to grow and thrive, and showcase the Government of Canada's priority of advancing trade, infrastructure, and new markets that propel Manitoba forward while ensuring the province's workforce has the training and tools needed to compete and win.

Manitoba is home to several world-class export clusters that produce high quality products. Clusters include digital industries within the creative and financial sector, heavy equipment manufacturing cluster that develops zero-emission technology, agriculture and ag-equipment, aerospace, transportation and logistics, and biosciences. Investments announced today through the Regional Innovation Ecosystem (RIE) program and the Jobs and Growth Fund (JGF) support projects that are showing positive results and contributing to building on Manitoba's economic strengths.

Quotes

"The economic well-being of Manitoba depends on exports and trade. Last year, Manitoba companies exported close to $21 billion, and we are supporting that momentum by investing in infrastructure and people, attracting capital, and moving the next big ideas to market. The investments announced today will further connect Manitoba to the world and bring new opportunities to our people, industries, and communities."
–The Honourable Dan Vandal, Minister for PrairiesCan

"We are grateful to PrairiesCan for their commitment to enhancing Manitoba's economic development ecosystem and investment-readiness. With support from PrairiesCan, CentrePort has been able to build new relationships within the advanced manufacturing and value-added agriculture sectors. We are actively working with companies that we engaged with through this project to help them establish or expand their operations at CentrePort."
–Carly Edmundson, President and CEO, CentrePort Canada Inc.

"Manitoba is known globally for ground-breaking artists and entrepreneurial music companies. Expanding export activity, developing markets, and facilitating business connections is the core of Manitoba Music's development work and critical to creating new pathways to success for our sector. Thank you to the Government of Canada for recognizing the value and impact of our province's music industry and working with us to build a strong future."
–Vanessa Kuzina, Executive Director, Manitoba Music

"PrairiesCan's investment has been pivotal in transforming our Founders Program for tech startups and launching initiatives like WiLab (Women in Innovation Lab), AMLab (Advanced Manufacturing Lab), and the North Forge Angel Network. These programs help entrepreneurs attract capital, empower women, and fuel innovation. Since September 2022, PrairiesCan has enabled us to support 120 startups, helping them raise over $8.5 million and achieve $7.7 million in revenue growth. Success stories like ConstructionClock and Win-Shield Devices highlight our significant impact. Our WiLab has supported 217 women, demonstrating our unwavering commitment to a diverse and inclusive entrepreneurial ecosystem."
–Joelle Foster, President & CEO, North Forge Technology Exchange

"Our partnership with PrairiesCan has enhanced our foreign direct investment (FDI) and talent attraction efforts, allowing us to leverage sophisticated market intelligence tools and better serve businesses. We've increased leads in our investment pipeline and established a sustainable talent pipeline, connecting businesses with expertise locally and internationally. This dual approach has enabled us to compete on the global stage, keeping Manitoba top-of-mind for investment and talent. We are grateful for our partnership with PrairiesCan as well as the contributions from the provincial government, which have helped us build a sophisticated economic development infrastructure to drive long-term job creation and capital investment in our region."
–Ryan Kuffner, President and CEO, Economic Development Winnipeg

Quick facts

• PrairiesCan makes strategic investments aimed at building a strong, competitive Canadian economy. This results-focused announcement showcases the positive impact of that funding.
• Working together with our ecosystem partners helps to connect Manitoba to the world, while also bringing global opportunities to Manitoba.
• The Regional Innovation Ecosystems (RIE) program makes targeted investments in not-for-profit organizations that support businesses in priority sectors to innovate, grow and compete globally. RIE is open to not-for-profit organizations that support businesses, innovators, and entrepreneurs, for start-up, growth, productivity, technology commercialization, technology adoption, export, and investment attraction.
• The Jobs and Growth Fund provides funding to businesses and organizations to help create jobs and position local economies for long-term growth. PrairiesCan is investing $122.9 million to help job creators and the organizations that support them to future-proof their businesses, build resiliency and prepare for growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs across the Prairies.

Backgrounder

The Government of Canada is investing $7,501,784 to support five projects in Manitoba.

This strategic funding will contribute to building a strong, competitive economy while placing a focus on workforce development, innovation, and trade.

Regional Innovations Ecosystem Program (RIE) – Investment of $5,662,000
The RIE program makes targeted investments in not-for-profit organizations that support businesses in priority sectors to innovate, grow and compete globally. RIE is open to not-for-profit organizations that support businesses, innovators, and entrepreneurs, for start-up, growth, productivity, technology commercialization, technology adoption, and export and investment attraction.

• North Forge ($2,070,000)
  Enhance incubator/accelerator programming to grow the Manitoba innovation ecosystem. To date, 120 Small- and Medium-Sized Enterprises (SMEs) or startups have raised over $8.5 million with over $7.7 million in revenue growth.
• Economic Development Winnipeg (EDW) ($2,500,000)
  Develop marketing initiatives to strengthen Foreign Direct Investment. Through this investment, EDW aims to attract foreign companies to fill gaps in key Manitoba sectors.
• Manitoba Music Industry Association ($1,092,000)
  Increase export market development and business growth of Manitoba-based music companies. This investment has resulted in artists being signed and Manitoba songwriters being published.

Jobs and Growth Fund (JGF) – Investment of $1,859,784
The JGF provides funding to businesses and organizations to help create jobs and position local economies for long-term growth. PrairiesCan is investing $122.9 million to help job creators and the organizations that support them to future-proof their businesses, build resiliency and prepare for growth by transitioning to a green economy, promoting an inclusive recovery, enhancing competitiveness, and creating jobs across the Prairies.

• CentrePort Canada ($260,000)
  Work to build supply chain efficiencies for CentrePort as well as other companies in Manitoba. As a direct result of this investment, more than
  50 business development meetings were held thanks to a proactive outreach and two open leads are in progress with companies exploring development opportunities at the inland port.
• Economic Development Winnipeg ($1,579,784)
  Implement a jobs portal and talent services to support key sectors in Manitoba. This is resulting in Manitoba being positioned as a leader in the creative sector.

Associated links

• Prairies Economic Development Canada (PrairiesCan)
• Regional Innovations Ecosystem Program
• Jobs and Growth Fund

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SOURCE Prairies Economic Development Canada