The primary purpose of the Southern Ontario Fund for Investment in Innovation (SOFII) is to support the growth of knowledge-based small and medium size enterprises (SMEs) through the provision of loans addressing all aspects of innovative SME growth challenges.
The objective is to foster the creation of jobs in SMEs and improve the competitiveness, market penetration/share and stability of participating companies. Knowledge-based Industry includes, but is not limited to, firms involved in pharmaceuticals, health biotech, new materials, telecommunications, information technology, software, medical equipment and avionics.
SOFII has been developed as a long-term sustainable fund offering a stable source of capital for SMEs working on introducing innovative and competitive products, services, processes or technologies from concept to market launch. SOFII is one element in the emerging climate of support for innovative SMEs and high-growth companies.
The Federal Economic Development Agency (FedDev Ontario) has invested in the SOFII project through their Prosperity Initiative. These funds will be delivered through two regional Community Futures Development Corporation (CFDC) Associations. CFDCs are not-for-profit organizations that support communities with economic development activities and access to capital when it may not be available through traditional sources.
The WOCFDCA services the following areas as outlined in the census divisions: Brant, Bruce, Chatham-Kent, Dufferin, Elgin, Essex, Grey, Haldimand-Norfolk, Halton, Hamilton, Huron, Lambton, Middlesex, Niagara, Oxford, Peel, Perth, Simcoe, Waterloo, and Wellington.
For more information, for South Eastern Ontario, please visit www.eocfdc.ca
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