November 13, 2014—Windsor, Ontario—Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
Early-stage companies with growth potential in the Windsor area will benefit from an investment of up to $225,000 in the Windsor Essex Capital Angel Network announced today by FedDev Ontario Minister Gary Goodyear and Member of Parliament for Essex Jeff Watson.
The Windsor Essex Capital Angel Network will use these funds to almost triple its existing membership base, which will provide companies with more access to investment funds and to quality mentoring support. The Network, which was established in 2013, anticipates that 10 companies will receive more than $2.5 million in investments over the next three years.
The Network will strengthen its operations by engaging in the necessary outreach and education activities to help early-stage businesses become successful in the investment process, as well as by providing angel members with the necessary tools to identify quality investment opportunities.
Angel investors play a significant role in mentoring and coaching during the early stages of business growth, which contributes to the successful commercialization of innovation.
FedDev Ontario's non-repayable contribution, through the Investing in Business Innovation initiative, is aimed at strengthening the innovation ecosystem in southern Ontario by supporting new entrepreneurs, early-stage businesses and angel investors.
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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