Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News


Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
09/23/2013 | 09:47pm CEST

Toronto, September 23, 2013

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

Jack Aubry
Media Relations
Department of Finance

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

Media Relations
Industry Canada

Stay connected:
distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news
Date Title
12:02a OTHERLEVELS HOLDINGS LIMITED (ASX : OLV) Announces Real-Time Messaging Content Option
12:02a MAGELLAN FLAGSHIP FUND : Update - Dividend/Distribution - MFF
12:02a EVOLUTION MINING : 2016 Annual Report
12:01a GENWORTH FINANCIAL : Announces Preliminary Charges For The Third Quarter
12:01a GENWORTH FINANCIAL : China Oceanwide To Acquire Genworth Financial
12:01a WCITIES : Content Available on All Major Inflight Entertainment & Communications Systems
10/23 AT&T-Time Warner deal sparks calls for scrutiny in Washington
10/23 BRAMBLES : Completes Hoover Ferguson Group Transaction
10/23 TD AMERITRADE : and TD bank nearing $4 billion deal to buy Scottrade - source
10/23 THE LATEST : Traffic slowed for maintenance ahead of crash
Latest news
Hot News 
-5.41%MOODY : Says Justice Department Preparing Complaint
4.21%Microsoft shares hit high as cloud business flies above estimates
-3.00%AT&T Is in Advanced Talks to Acquire Time Warner
-7.87%LA Z BOY INCORPORATED : Z-Boy Lowers Expectations for Current Quarter
6.43%TOURMALINE OIL : Shell sells non-core Canadian oil and gas assets for $1 billion
Most Read News
06:01p GENWORTH FINANCIAL : Announces Preliminary Charges For The Third Quarter
06:02p EVOLUTION MINING : 2016 Annual Report
06:02p MAGELLAN FLAGSHIP FUND : Update - Dividend/Distribution - MFF
06:02p OTHERLEVELS HOLDINGS LIMITED (ASX : OLV) Announces Real-Time Messaging Content Option
05:39p AT&T-Time Warner may signal start of new media industry consolidation
Most recommended articles
10/21 Second wind for stocks as earnings turn positive
10/21DJTWITTER : Hundreds Evacuated from London's City Airport
10/21DJFACEBOOK : Employees Pushed to Remove Trump Posts as Hate Speech
10/19DJGold Prices Boosted by Weaker Dollar