8 September 2006
St. John's, Newfoundland and Labrador
The St. John's Board of Trade, through a new subsidiary
called BOT Capital Project Inc., has created a province-
wide Angel Investment Network that will provide access to
capital for businesses at both start-up, and in interim
stages of growth.The investment network has received a contribution of
$210,925 from the Atlantic Canada Opportunities Agency
(ACOA). "ACOA is pleased to assist the St. John's Board of Trade in
its work to foster a positive and dynamic business climate
in Newfoundland and Labrador," said the Honourable Loyola
Hearn, Minister of Fisheries and Oceans and Regional
Minister for Newfoundland and Labrador, on behalf of the
Honourable Peter MacKay, Minister of Foreign Affairs and
Minister of ACOA. "This creative community partnership
nurtures the growth of an investment culture which is
essential to our long term prosperity." The initial investment is for a two year period and will
assist the Board of Trade to bring companies together with
potential investors in a professional and organized forum.
The project will also provide counselling, mentoring and
follow-up services for prospective investors and companies
requiring investment, and the establishment of an
investment forum/capital growth network."We have established BOT Capital Project Inc., a newly
incorporated, not-for-profit organization, which is a
subsidiary of the St. John's Board of Trade," said Board of
Trade President Ray Dillon. "The reasons for incorporation
of the new organization are twofold. First, it will ensure
a provincial scope for the project and facilitate the
project activity in meeting its measurables and benefits.
And secondly, it will allow investment and training
activity to take place at arms-length from the membership
and executive of the St. John's Board of Trade."Mr. Dillon said one significant benefit will be the
extension of capital investment training and investment
activity to other regions of Newfoundland and Labrador
outside the Avalon Region.BOT Capital Project Inc. will be overseen by a board of
directors which will have a minimum of four, and a maximum
of 10 members. Four of the board members will be
representatives of the St. John's Board of Trade, including
the board's general manager. Others will be selected from
the province's business community and business associations.ACOA funding for the BOT Capital Project Inc. is being
provided under the Agency's Business Development Program.
FOR BROADCAST USE:The St. John's Board of Trade, through a new subsidiary
called BOT Capital Project Inc., has created a province-
wide Angel Investment Network. The Network will provide
access to capital for businesses at both start-up and
interim stages of growth.The investment network has received a contribution of over
$210,000 from ACOA. The initial ACOA investment is for a
two year period. It will help the Board of Trade bring
companies together with potential investors in a
professional and organized way. The ACOA funding was
announced today by federal cabinet representative Loyola
Hearn and Board of Trade President Ray Dillon.
For more information, please contact:
Doug Burgess
Director, Public Affairs
Atlantic Canada Opportunities Agency
709-772-2935
Cathy Favre
Project Manager
BOT Capital Project Inc.
709-726-2961 ext. 103
Backgrounder
Angel Investment NetworkThe St. John's Board of Trade was incorporated in 1970 to
serve as the principle voice of business for St. John's and
area on matters of significant economic and business
interest. The Board of Trade is an organization that
represents businesses of all sizes and in all industry
sectors, working together under the common objective of
building a positive economic environment in which everyone
benefits. The Board is a not-for-profit, volunteer organization
governed by a volunteer Board of Directors, and is
nationally/internationally affiliated with the Chamber of
Commerce movement. Over time, the Board's mandate has
evolved to include initiatives designed to enhance
opportunities for members through the promotion of a
favourable business climate as well as engagement in
business development initiatives for the region. With the solid partnership between the St. John's Board of
Trade, through BOT Capital Project Inc., and the Atlantic
Canada Opportunities Agency (ACOA) this project will: -- develop a province-wide Angel Investment Network, to be
called Newfoundland and Labrador Angel Investment Network
(NLAN), bringing together Angel Investors within the
province to invest in and mentor local companies through
their key early stages of development;-- develop and deliver an investment readiness training
program for entrepreneurs and companies (in partnership
with local training and education providers);-- develop a counselling and mentoring program to support
companies in their growth;-- establish an annual investment capital forum; and -- help recruit Newfoundland and Labrador entrepreneurs and
companies progress through the phases of an Angel
Investment process including application, evaluation,
training, investment presentation, due diligence, and
mentoring to lead to investment success.
