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

4-Traders Homepage  >  News

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
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
media-relations@ic.gc.ca

Stay connected:
distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
07:25p ABOITIZ POWER : unit to raise P1.4 B from debt market
07:19p TECHNOGYM : Hotel gyms offer fitness with plenty of frills
07:18p ELAN MICROELECTRONICS : August Revenue of NT$692 Million, Hit a New High in 26 Months
07:18p UTTARA FINANCE AND INVESTMENTS : Three new export-oriented sectors to get cash subsidy
07:17p DOW CHEMICAL : HHW event brings large turnout
07:14p JOHNSON & JOHNSON : The Philadelphia Inquirer Kellie Patrick Gates column
07:13p BANKINTER : Second Interim Dividend of 2016
06:59pDJSelf-Driving Hype Doesn't Reflect Reality
06:58p MONETA PORCUPINE MINES : Announces Closing of $7.6 Million Bought Deal Private Placement
06:57p YAHOO : admits breach to data breach
Latest news
Advertisement
Hot News 
21.42%Twitter In Talks with Suitors, Including Salesforce, Google -CNBC's Faber
15.45%Endo International CEO steps down, Campanelli named successor
9.77%SANTANDER CONSUMER : USA to Restate Financial Reports
-5.17%FINISH LINE : Comparable Store Sales Rise
-3.52%AP MOELLER MAERSK A/S : A.P. Moeller-Maersk to Split Into Two Separate Divisions -- 4th Update
Most Read News
03:01a MICROSOFT : HostForLIFE.eu Launches Moodle 3.1.2 Hosting
09/24 FACEBOOK : apologises for shutting down Palestinian journalists' accounts
09/24 MACY : Washington state mall shooting suspect named as victim's mother speaks
09:15a LINKEDIN OFFICE BY PERKINS + WILL WINS INTERIOR DESIGN OF THE YEAR : Office
04:30a MANCHESTER UNITED : After dropping Rooney, United beats Leicester 4-1 in EPL
Most recommended articles
12:59pDJSelf-Driving Hype Doesn't Reflect Reality
12:03pDJAt Carnival, It's No Time to Jump Ship -- Ahead of the Tape
11:59aDJSAMSUNG ELECTRONICS : Complaints Arise Over Replacement Batteries for Samsung Galaxy Note 7 -- Update
11:24aDJAll the Texas Tea in China Is Less Than It Once Was -- Heard on the Street
05:38a TENCENT : to donate 2 percent of profit as Chinese online charity grows