The Entrepreneurship and Innovation Fund supports development of the innovation network in York Region by supporting promising early stage start-ups, accelerators, incubators, and community partners.
ventureLAB and York Region are pleased to announce the recipients of the 2021 Entrepreneurship and Innovation Fund. The funds were presented to nine companies and organisations in York Region that demonstrate innovative solutions or services that support the development of the innovation network. Funded with the generous support of the Regional Municipality of York, the fund allows local organisations to increase innovation and elevate sustainability in York Region while expanding inclusion, diversity, and accessibility. Congratulations to each of the nine winners who were chosen amongst all of the incredible applications for their development of the innovation network in York Region. The fund is divided into two streams, one for non-profit community partners and the other for small businesses and entrepreneurs.
Stream One: Community Partners
Stream One of the Entrepreneurship and Innovation Fund program provides qualified community partners with $10,000 in funding for activities or initiatives that promote, support, or enhance entrepreneurship or innovation in York Region. Our 2021 recipients are:
ELLA Accelerator
The ELLA Accelerator is an award-winning accelerator and community for women entrepreneurs. They specialise in providing support for women-led product and service-based businesses. Their programs are created and hosted by women, for women, and have a highly intersectional reach.
This funding will support ELLA Express, a one-week bootcamp program that is designed to provide women entrepreneurs who have product and service-based business in York Region with a solid foundation for growth. The program will offer skills training in the areas of business plan writing, value proposition design, marketing and sales, finances, pricing as well as pitching. It will also offer expert feedback through office hours as well as an opportunity for entrepreneurs to connect with the larger ELLA network.
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TechConnex
TechConnex is a technology association with a vision of significant growth and success for the technology sector in York region. Their mission is to foster a collaborative, supportive community where organisations can connect, share, learn, and grow.
This funding will facilitate TechConnex’s Peer Group Program, which creates an inclusive, collaborative community for sharing, learning, growing and networking. The Program provides an impactful learning experience with a strong focus on personal and business growth, skills development and success.
Stream Two: Small Businesses and Entrepreneurs
Stream Two of the Entrepreneurship and Innovation Fund program provides qualified small businesses and entrepreneurs with $10,000 in funding solutions that boost productivity and innovation across supply chains by leveraging AI. Our 2021 recipients are:
ventureLAB would also like to acknowledge finalists EPIC Semiconductors, Fast Approach and Inc, and Low Power Futures who qualified for the second round of the application process.
AutoMetrics
AutoMetrics is an industrial automation startup introducing Inspection 4.0, a machine learning- powered system for quality inspection of welding operations in industries such as automotive suppliers and shipbuilding. They leverage advanced analytics enabled by a high-performing sensor and IoT system to provide manufacturers with a centralized quality-management platform to avoid defects in real-time and eliminate the risk of poor quality or mitigation costs.
DeepSight
DeepSight has developed a 3-1 software enabling manufacturing companies to create 3D work instructions through a no-code web-based authoring tool, view 3D work instructions on smart glasses and mobile devices through its cross-platform application, and manage training progression and track process efficiency through a web-based analytics dashboard.
Mech Solutions
Mech Solutions is a one-stop-shop for all 3D printing needs. In addition, Mech Solutions is creating their AIFocusBot software, an innovative product currently in the beta testing stage that will be launched to the market in early 2022. Mech Solutions uses AI and applied deep learning to train solutions to avoid errors and improve accuracy.
Mely AI Technologies
Mely AI Technologies is an AI-powered solution company, helping enterprises in Supply Chain and Logistics to accelerate their digital transformation journey. Their proprietary Smart Document Extraction engine automatically, accurately, and rapidly extracts key information from documents, including lengthy commercial invoices, complicated packing list, or non-standardized bill of lading or waybills, removing back-office inefficiencies.
OVA.ai
OVA's StellarX enables companies to create immersive and augmented reality content with drag-and-drop 3D objects. It empowers companies to save costs and time associated with training employees or clients by leveraging their digital twins.
Portable Intelligence
Portable Intelligence specialises in supply chain solutions for manufacturers and distributors. Through their Smart Warehouse project, they are developing the next generation of inventory management systems by leveraging the power of AI and location-based services to create dramatically greater levels of productivity.
Qoherent
Qoherent is driving the creation of intelligent radio technologies. They create data-driven solutions using modern machine learning techniques for passive sensing of the radio frequency spectrum to identify and analyse signals such LTE, 5GNR, RADAR, and more. Their product offering includes application-specific IP composed of datasets and pre-trained models, as well as design tools that help researchers and engineers bridge the knowledge gap between the radio frequency and machine learning domains. Qoherent also conducts deep technology research, and currently focuses on quantum computing algorithms that improve machine learning and apply them to real-world RF problems.
Congratulations to our 2021 recipients! ventureLAB launches new programs, funding opportunities, and competitions to support innovation for entrepreneurs throughout the year. Subscribe to our newsletter to be the first to know.
About ventureLAB
ventureLAB is a leading global founder community for hardware technology and enterprise software companies in Canada. Located at the heart of Ontario’s innovation corridor in York Region, ventureLAB is part of one of the biggest and most diverse tech communities in Canada. Our initiatives focused on raising capital, talent retention, commercializing technology and IP, and customer acquisition have enabled thousands of companies to create over 4,000 jobs and raise over $200 million in investment capital. At ventureLAB, we grow globally competitive tech titans that build-to-scale in Canada, for global markets.
