Innovation Village at Fanshawe College receives a $3 million investment from federal government
FANSHAWE COLLEGE IS getting a $3-million boost to its Innovation Village, a physical and virtual hub to help students and businesses with the goal of creating new jobs and helping the economy recover.
London West MP Kate Young and London North Centre MP Peter Fragiskatos made the announcement Friday on behalf of the Federal Economic Development Agency for Southern Ontario.
Fanshawe College president Peter Devlin referred to Innovation Village as the “town square” of the college.
“Now more than ever we need students who can quickly adapt and respond to emerging trends in every industry,” Devlin says. “This funding for Innovation Village allows us to provide exceptional learning opportunities using cutting-edge equipment to prepare Fanshawe graduates to make significant economic contributions to their community. We thank our federal partners for their continued support of Fanshawe College and our students.”
Innovation Village will also be available to community partners, allowing collaboration with local businesses, industries and non-profits.
In the first three years, it is hoped the resource will assist 40 businesses, produce 10 new products and services, create eight new jobs and support 28 student entrepreneurs.
In addition to Friday’s federal funding announcement, the City of London has already committed $2.5 million to Innovation Village.
The $58-million project is expected to be completed in 2023.