Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexEconomic EventsPress releases

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
0
09/23/2013 | 09:47pm CEST

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
[email protected]

Stay connected:
distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
01:17p Defiant Kurds shrug off risk of trade war after independence vote
01:16p ICS INTERNATIONAL CHAMBER OF SHIPPING : ‘Deeply Concerned’ by Canadian Legislation that Will Interfere with International Maritime Trade
01:16p SELBY DISTRICT COUNCIL : New conference - how can planning policies influence wellbeing?
01:16pDJNEWS HIGHLIGHTS : Top Company News of the Day
01:16pDJNEWS HIGHLIGHTS : Top Global Markets News of the Day
01:16pDJNEWS HIGHLIGHTS : Top Financial Services News of the Day
01:11p COAL AUTHORITY : Free of charge coal mining information
01:11p UFU ULSTER FARMERS' UNION : calls for further debate on milk pricing
01:07p GARY COHN : Factbox - Who will Trump pick to lead the Federal Reserve?
01:06p MEDIA ADVISORY : Press point by High Representative/Vice-President Federica Mogherini and Foreign Minister of South Korea Kang Kyung-wha on Friday 20 October
Latest news "Economy & Forex"
Advertisement