Innovation centre gets business funding.

• Position: Brief article

The Northwestern Ontario Innovation Centre (NOIC) has received close to $700,000 in funding to support innovative small and medium-sized businesses, and youth recruitment and retention.

Of the $698,400 in funding, $499,000 will support the launch of the Business Growth and Talent Development project. Through this initiative, innovative small and medium-sized enterprises (SMEs) in northwestern Ontario will have access to funding to help them hire young professional employees for 15-month placements.

The goal of the project is to assist companies with business growth and market development.

The remaining $199,400 will enable the innovation centre to introduce its Youth Effect project that will provide entrepreneurial, innovative youth (aged 18-29) with experiential learning and training through 15-week placements with innovative small and medium-sized enterprises.

Under this program, SMEs that identify a need for support with a specific project will be matched with qualified youth based on their skills, interest, and need. The project is expected to lead to full-time employment for...