Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Department of Finance of Canada : Harper Government Opens National Competition to Support Incubators and Accelerators to Help Create Jobs, Growth and Innovation in Canada

09/23/2013 | 03:47pm US/Eastern

Toronto, September 23, 2013
2013-125

The Honourable Jim Flaherty, Minister of Finance, and the Honourable Greg Rickford, Minister of State (Science and Technology, and Federal Economic Development Initiative for Northern Ontario), today announced the next step in implementing the Harper Government's Venture Capital Action Plan by helping to ensure that Canada's promising innovative start-up firms have the resources required to grow and succeed.

The National Research Council of Canada's Industrial Research Assistance Program (NRC-IRAP) today issued a Request for Proposals under the Canada Accelerator and Incubator Program (CAIP) to solicit applications for funding support from leading business incubators and accelerators in Canada. CAIP represents a significant investment by the Government of Canada to support the growth and development of promising entrepreneurs and start-up firms.

"Business accelerators and incubators are long recognized as crucial players in the venture capital system," said Minister Flaherty. "These organizations bring entrepreneurs together and provide them with hands-on mentorship by successful innovators and access to specialized business services to develop their ideas and grow their businesses and the jobs of tomorrow. Graduates of these programs will be better prepared to attract customers, form strategic partnerships and secure private investment."

The Request for Proposals is the latest step in the Venture Capital Action Plan, a $400-million strategy launched in January to help increase private sector venture capital investments in Canada. Economic Action Plan 2013 provided $60 million over five years to help outstanding and high-potential incubator and accelerator organizations expand their services to worthy entrepreneurs.

"Our Government is strongly committed to initiatives that support science, technology and the growth of innovative Canadian firms, which strengthen our communities," said Minister Rickford, highlighting CAIP during his visit to TeraXion Inc. in Québec City. "The Canada Accelerator and Incubator Program will be a boost to organizations that provide the tools Canadian entrepreneurs need to grow, innovate, bring ideas to the marketplace and create jobs to secure Canada's long-term prosperity."

Guided by feedback from venture capital stakeholders during government consultations last year, the new incubator and accelerator program will maximize the impact of new funding by focusing on proven, best-in-class organizations and providing them with the support needed early on to scale up their activities for the benefit of Canadian entrepreneurs.

Financial contributions would support new, incremental activities at outstanding and high-potential accelerators and incubators that promote:

  • The development of investment-ready early-stage firms by accelerators and incubators;
  • An increased range, availability and quality of services available to innovative early-stage firms, such as mentorship and business plan development; and
  • Stronger entrepreneur networks that link recipient organizations with other important innovation organizations in Canada and internationally, including other accelerators and incubators, public research institutions, investor networks and venture capital funds.

Details are available on NRC-IRAP's website.

For further information, media may contact:

Marie Prentice
Press Secretary
Office of the Minister of Finance
613-996-7861

Jack Aubry
Media Relations
Department of Finance
613-996-8080

Mary Ann Dewey-Plante
Director of Communications
Office of the Minister of State (Science and Technology, and Federal Economic Development Initiative for Northern Ontario)
613-943-6177

Media Relations
Industry Canada
613-943-2502
1-800-328-6189
media-relations@ic.gc.ca

Stay connected:
distributed by
React to this article
Latest news
Date Title
06:08a MANCHESTER UNITED : PSG condemn United to first preseason defeat
06:08a HUTTIG BUILDING PRODUCTS : Results of Operations and Financial Condition (form 8-K)
06:08a SANTANDER CONSUMER USA : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K)
06:08a ID GLOBAL SOLUTIONS : Unregistered Sale of Equity Securities, Financial Statements and Exhibits (form 8-K/A)
06:07a LEO MOTORS : Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year (form 8-K)
06:07a FIRST ENERGY INCOME & GROWTH FUND : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
06:07a PUBLIC STORAGE : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K)
06:07a FINANCIAL FEDERAL : FIRST TRUST ENERGY INFRASTRUCTURE FUND : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
06:07a WTTJ : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)
06:07a AMERESCO : Results of Operations and Financial Condition (form 8-K)
Latest news
Advertisement
Hot News 
ACCESSO TECHNOLOGY : *numis raises accesso technology price target to 910 (730) pence - 'buy'
HELLERMANNTYTON : Surges Higher On Delphi Automotive Takeover
TP : Trading update and notice of half-year results
DISTIL : 30 July 2015 - Director's Dealing
CHIME COMMUNICATIONS : Set To Be Acquired By WPP And Providence
Most Read News
12:17a Patent Issued for Organic Light Emitting Diode Display and Method for Manufacturing the Same
07/29 Patent Issued for Canceling Narrowband Interfering Signals in a Distributed Antenna System
07/29 Patent Issued for Projection Display Apparatus and Control Method Therefor
07/29 BOEING MAY MOVE WORK ABROAD WITH EX-IM FUTURE UNCERTAIN : chairman
07/29 Patent Issued for Receiver Circuit
Most recommended articles
06:06aDJRenault Shares Plunge Despite Strong Results -- Update
06:06a BANCO SANTANDER : Santander's UK arm won't be spun off in next two years - UK CEO
06:04aDJNTPC April-June Net Profit Falls 3%
06:02a Shell to axe 6,500 jobs and cut spending to cope with lower oil prices
05:59a Shell to axe 6,500 jobs and cut spending to cope with lower oil prices