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

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 CET

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
11:48aDJGold Trades Flat Amid Conflicting Pressures
11:48a $15.73 Billion Cancer Biomarkers Market by Profiling Technology, Biomolecules, Cancer Type, Application - Global Opportunity Analysis and Industry Forecast 2014-2022 - Research and Markets
11:47a DGAP-NEWS : TwintecBaumot Group: Kontec-Gruppe informiert über aktuellen Stand der Sanierungsverfahren
11:47a EU SUPPLY : Revenues, Costs To Be Ahead Of Market Expectations In 2017
11:47a RANDALL & QUILTER INVESTMENT HLDG : & Quilter Florida Subsidiary Signs Agreement With Cinium
11:46a DEVELOPMENT : Change of directors and change of composition of board committees
11:46a HENKEL : recognized in four external sustainability assessments
11:46a SUCCESS UNIVERSE : Profit Warning
11:46a W RESOURCES : Secures Half Of Funding For La Parrilla Plant Equipment
11:46a BB&T : reports record earnings for 2016; Quarterly earnings totaled $592 million, up 18% over 2015
Latest news
Advertisement
Hot News 
2.24%PEARSON : Drops as Future Darkens -- WSJ
8.42%N BROWN : Fashion brand N Brown's third quarter revenue rises, shares jump
9.82%HALFORDS : sticks to profit outlook after strong Christmas quarter
0.97%SAFRAN : Agrees to Buy Zodiac Aerospace
3.00%AHOLD DELHAIZE : Newly Merged Royal Ahold Delhaize Sales Helped by Netherlands
Most Read News
02:15a SAMSUNG ELECTRONICS : South Korea prosecutors undecided on further arrest warrant request for Samsung chief
01:50aDJSAFRAN : Agrees to Buy Zodiac Aerospace -- Update
01/18 CANADIAN PACIFIC RAILWAY : CEO Harrison to leave early
01/18 AMAZON COM : Netflix adds a third more subscribers than expected; shares jump 8 percent
02:22a Toshiba woes intensify on reports of $6 billion writedown, shares plummet
Most recommended articles
01/17DJS&P 500, Nasdaq Futures -- Technical Analysis
05:45aDJCIT : Steven Mnuchin, Donald Trump's Treasury Pick, to Address IndyMac Questions at Confirmation Hearing
05:45aDJSIEMENS : German Companies on a Tear in U.S.
05:43a Safran says Zodiac profitability is far from satisfactory
05:42a GRUPO AEROMEXICO DE CV : Aeromexico says Delta to complete acquisition of 49 percent stake in second quarter