January 21, 2015 – Toronto, Ontario – Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
More entrepreneurs in southern Ontario will benefit from support through Ontario Centres of Excellence's (OCE) SmartStart Seed Fund (SmartStart), thanks to an investment of up to $9 million announced today by FedDev Ontario Minister Gary Goodyear.
SmartStart provides seed financing and funding for entrepreneurship skills training to help high-potential start-up companies grow their companies and make them investment and customer ready. The program was first piloted with FedDev Ontario funding in 2012 and renewed with Government of Ontario funding in April 2014. It currently offers entrepreneurs between 18 and 29 years of age up to $40,000 for technology or innovation-based companies located in Ontario to launch and grow their businesses. After April 1, 2015, southern Ontario entrepreneurs between 18 and 29 years of age may apply for up to $70,000, while those 30 and older can apply for up to $40,000.
OCE is leveraging partnerships with private-sector accelerators, Campus Linked Accelerators located in academic institutions across Ontario, Regional Innovation Centres (RICs), angel investor networks, venture capital firms, industry and sector organizations to deliver this program.
The Harper Government's contribution, through FedDev Ontario's Investing in Business Innovation initiative, aims to strengthen the innovation ecosystem in southern Ontario.
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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