Who got funded in June 2021
$2.7 billion in project funding, down from $4.9 billion in June 2020
June 2021 resulted in close to $2 billion in funding across 18 industries, and the 2021 halfway mark has seen some shifts compared to June 2020.
Government and non-profits received the most funding for June in both 2020 and 2021. However, sectors that did not make the top ten for funding in June 2020, such as transportation and warehousing, energy, telecommunication and broadcasting and accommodations and tourism, all appear on the list for June 2021.
Fundingportal IMS, the leading incentives management system, is tracking the top ten industries funded month over month, starting with June 2021, with a spotlight on the top funded project for each industry. Comparative YoY rankings give readers insight into funding changes & market shifts.
Top ten funded industries for June 2021
- Non-profits and government (#1 in June 2020 as well): $1.2 billion were awarded to 854 community and non-profit projects. The largest award went to the Buffalo Pound Water Treatment Corporation owned by the cities of Regina and Moose Jaw. The project’s goal is to continue providing quality water to the citizens of the region while also improving the facility’s environmental sustainability and use of renewable energy. The federal government has invested $89.1 million through the green infrastructure stream of the Investing in Canada Infrastructure Program and the government of Saskatchewan has contributed an additional $74.2 million to the project.
- Telecommunications and broadcasting (up from #15 in June 2020): $263 million were awarded to 29 telecommunications and broadcasting projects. Videotron, a telecommunications company serving Quebec as well as parts of New Brunswick and Eastern Ontario, was the recipient of the largest award for a sum of $121 million. The project will provide 13 300 households in the Abitibi-Témiscamingue and Northern Quebec regions with access to high-speed internet by September 2022. Access to high speed, affordable internet is considered essential to Quebec’s economic and community development.
- Academics & research (down from #2 in June 2020): $164.3 billion was awarded to 48 academic and research projects. The largest award of $77.1 million was provided to the Greater Victoria School District in British Columbia under the Seismic Mitigation Program. The award is part of the province of British Columbia’s continued efforts to provide optimal and safe learning environments for its students.
- Healthcare & life sciences (up from #9 in June 2020): $70.5 million were awarded to 58 healthcare and life sciences projects. The largest award of $46.4 million went to AlayaCare to support its growth and allow the company to simultaneously develop its sales force and its service offering. Quebec’s Ministère de l’Économie et de l’Innovation provided $22.3 million through the Fund for the Growth of Quebec Businesses (FCEQ), while Investissement Québec provided the remaining $24.1 million. The project’s goal is to empower healthcare providers around the world to leverage transformative innovations to propel themselves into the healthcare of the future.
- Business & finance (down from #3 in June 2020): $66.3 million were awarded to 57 business and finance projects. Quidnet Energy and Emissions Reduction Alberta (ERA) was the recipient of the largest award, for a sum of $5 million. The project aims to develop an ultra-low-cost geologic energy storage resource in Alberta as a step toward generating reliable renewable energy.
- Accommodations & tourism (up from #12 in June 2020): $53.6 million were awarded to 48 accommodations and tourism projects. The largest recipients were three hotels in the Montreal region that received $5 million each under the PADAT program, which supports the development of tourist attractions. The goal is to help the hotels recover from the impact of COVID-19 on the Montreal tourism industry.
- Manufacturing (down from #5 in June 2020): $42.9 million were awarded across 17 manufacturing projects. The largest award of 28.9 million went to Meltech Innovation Canada under the Strategic Innovation Fund: Streams 1-3. The goal of the project is to build a facility in Montreal that will manufacture respirators and surgical masks domestically to ensure Canada is prepared for any future pandemics.
- Transportation & warehousing (up from #16 in June 2020): $39.6 million were awarded to 23 transportation and warehousing projects. The largest award of $15 million went to Nova Bus with the aim of modernizing its fleet of buses, including the production of all electric and battery-powered buses. The funding will help the Canadian transportation industry toward its goal of becoming a global leader in zero-emission vehicles.
- Energy (up from #13 in June 2020): $21. 5 million were awarded to 5 energy projects. The recipient of the largest award of $15 million was Air Products, the world leader in hydrogen production. The funding is part of a larger multi-billion-dollar plan to build a landmark new net-zero hydrogen energy complex that will make Edmonton, Alberta the centre of western Canada’s hydrogen economy.
- Agriculture, agri-food & farming (down from #4 in June 2020): $19.7 million were awarded to 13 agriculture, agri-food and farming projects. Emblème Canneberge was the recipient of the largest award of $11.6 million being provided by the Government of Quebec, Investissement Québec and the Financière agricole du Québec. The goal of the project is to expand the company’s facilities and acquire innovative technological equipment to clean and freeze berries and vegetables. The total project is valued at more than $28 million and will lead to the creation of 20 jobs.
With billions of dollars being allocated and thousands of new programs being launched, it can be difficult to find, apply for and leverage available funding. Since many grants and incentives are disbursed on a first-come, first-served basis, it is critical to stay on top of program intake periods, criteria and end dates. Incorporating available funding into overall project planning can help companies prioritize projects, and plan for growth initiatives that may have otherwise been put on hold.
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