November 20, 2014 – Kitchener, Ontario – Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
Angel investors and businesses in southern Ontario will benefit from an investment of up to $3.35 million announced today by FedDev Ontario Minister of State Gary Goodyear on the occasion of the first-ever Global Business Angels Day.
Angel investors play a significant role in providing early-stage businesses with access to capital and coaching. This helps businesses to grow, create jobs and bring innovations to domestic and international markets.
Funding for the National Angel Capital Organization and the Network of Angel Organizations – Ontario will help to improve resources and share best practices for angel investing. In addition, funding for eight regional angel networks will help to improve services and tools for existing members and attract new ones. All of these activities will increase the pool of investment and mentoring support available for companies in southern Ontario.
Today's announcement builds on recent announcements of up to $1.725 million for four other angel networks in southern Ontario. This brings the total announced funding for angel associations and networks, through the second intake of FedDev Ontario's Investing in Business Innovation initiative, to up to $5.075 million.
Global Business Angels Day is part of Global Entrepreneurship Week, which is being recognized in 150 countries with roughly seven million people participating in events, activities and competitions that are building one global economic ecosystem.
Erica Furtado
Director of Communications
Office of the Honourable Gary Goodyear
613-943-7599
Media Relations
FedDev Ontario
416-954-6652
FedDevMedia@FedDevOntario.gc.ca
Toll Free: 1-866-593-5505
Website: www.FedDevOntario.gc.ca
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