Canadian Technology Accelerators are among the many tools available to help Canadian small and medium-sized enterprises expand and succeed in global markets
April 8, 2015 - Ottawa, Ontario - Foreign Affairs, Trade and Development Canada
The Honourable Ed Fast, Minister of International Trade, today congratulated Vancouver, British Columbia-based Ayogo Health, Inc. on its latest success: raising $2.5 million in venture capital to support its growth in the U.S. and international markets.
In 2013 and 2014, Ayogo Health participated in the Canadian Technology Accelerator (CTA) in Boston, Massachusetts, and the CTA in San Francisco—in addition to using the services provided by the Canadian Trade Commissioner Service across Canada, the United States and Europe.
Since 2009, more than 350 companies have participated in Canada’s CTA. The program provides innovative Canadian companies with access to unique resources, helping participants refine their business models, collect competitive intelligence, pursue key clients, access financing sources and engage strategic partners to help them grow internationally. In the past year, CTA program participants reported a combined total of more than $30 million in capital raised, increases in the number of strategic partners and increases in revenue. The CTA is part of Canada’s Global Markets Action Plan (GMAP), the government’s blueprint for creating jobs and economic growth through exports.
Under GMAP, Prime Minister Harper recently announced a total of $50 million over five years in direct financial assistance to Canadian small and medium-sized enterprises for market research and participation in trade missions. It is expected that this funding will help between 500 and 1,000 Canadian entrepreneurs per year reach their full export potential.
With GMAP, through economic diplomacy and under a whole-of-government approach to export, the Harper Government has revolutionized Canada’s trade-promotion efforts by ensuring Canadian businesses, especially small and medium-sized enterprises, receive the full range of support and services they need to find success in global markets.
Applications for CTA in fall 2015 are currently being accepted.
Max Moncaster
Press Secretary
Office of the Honourable Ed Fast
Minister of International Trade
343-203-7332
Media Relations Office
Foreign Affairs, Trade and Development Canada
343-203-7700
media@international.gc.ca
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