VENTURE CAPITAL IN SOUTHERN ONTARIO

GOVERNMENT OF CANADA FUNDING VENTURE CAPITAL SERVICE

Niagara Falls, Ontario – November 2013

Providing government grants and government secured loans is only 1 of the many ways that the Government of Canada encourages and supports Canadian businesses.

One of the most important functions of the Government in business financing opportunities for small business is in encouraging venture capital investments in business start-ups.

To this effect the Canadian Government is renewing it’s commitment to venture capital and angel investor development through increased funding of The Niagara Angel Network. Thanks to this $100,000 investment, The Niagara Angel Network will be able to connect more angel investors with promising new start-up businesses across the Niagara region. The investment is being provided through FedDev Ontario’s Investing in Business Innovation (IBI) initiative.

The Niagara Angel Network is a not-for-profit angel network located in Niagara-on-the-Lake, and is part of the Ontario Network of Angel Organizations. This new investment permits the Angel Network to expand its base of active angel investors to respond to the funding needs of business start-ups.

In 2011, the Niagara Angel Network received $50,000 through the IBI initiative to expand its angel investor base through investment attraction activities. This financial support led to increased membership in the Network, and an increased availability of capital in the Niagara Region.

“This funding has helped our Angel investor group exceed $3 million worth of investments while leveraging an additional $10.8 million from other sources of funding,” according to Terry Mactaggart, Chairman for Niagara Angel Network. “With the Government of Canada’s support, the Niagara Angel Network is helping to build the next generation of companies in Niagara and beyond.”

FedDev Ontario supports the southern Ontario economy by creating opportunities for jobs and economic growth. The Investing in Business Innovation initiative is part of FedDev Ontario’s Southern Ontario Advantage initiatives. Over $420 million in funding has been committed to date. More than 240 projects have received funding under the Southern Ontario Advantage initiatives, resulting in partnerships with more than 5,000 organizations, and over $1.2 billion in additional leveraged investments from various sources.

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Government Grants/Loans in Northern Ontario

Government Loan for Software Development in Northern Ontario

Nipissing-Timiskaming Ontario, October 31st, 2013

FedNor, a department of the Canadian Government created to foster economic development in Northern Ontario , announced an upcoming funding investment to create jobs and support development and growth in the technology and innovation sectors of Northern Ontario.

A repayable FedNor contribution of $500,000 has been provided to Funding Matters Inc., in partnership with Canadore College. The intention of this government loan is to help the Northern Ontario company develop software for the charitable financing industry and related online and mobile areas.

The investment will be used to hire a local project team to further the development of the GIFTABULATOR app and other new software and tools. Funding Matters Inc. will have the support it requires to create 10 new technology-related jobs and expand its North Bay operations by opening a new research, development, and marketing office in the community.

“We are very excited to partner with FedNor and the Government of Canada to expand our North Bay operations and enhance our product offerings,” said William Petruck, President of Funding Matters Inc. “Today’s announcement will help us grow our business, create jobs, expand into new markets and continue to deliver innovative services to our clients.”

The funding has been provided through FedNor’s Northern Ontario Development Program, which is intended to support projects that strengthen community economic development, enhance business development and growth, and facilitate innovation throughout the region. FedNor is one of several government agencies responsible for funding business projects in Ontario,

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Government Grants/Government Loans for Biolyse Pharma

 

Government of Canada invests in Ontario Drug Company

St. Catharines, Ontario September 26, 2013

The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), alongside Rick Dykstra, Member of Parliament for St. Catharines, today announced a Government of Canada investment that will allow Biolyse Pharma to expand its facilities and product line of injectable chemotherapy drugs.

“Today, our Government’s commitment to investing in the development of a supportive environment for the region’s pharmaceutical manufacturing cluster is being showcased,” said MP Dykstra. “Getting our small- and medium-sized businesses the tools they need to stay productive and competitive is imperative.”

St. Catharines-based Biolyse Pharma produces generic chemotherapy and anti-cancer drugs for Canadian and international markets. Through FedDev Ontario’s Prosperity Initiative, Biolyse Pharma will receive an investment of up to $2.9 million to complete an expansion of its facilities and production capacity. This project is expected to create up to 59 new highly skilled full-time jobs, allowing the company to reach new markets and increase product diversification. “The significance of this repayable contribution is an encouragement to Biolyse to move forward with its development program, which will expand its line of vital medicines made by Canadians for Canadians,” said Claude Mercure, Owner of Biolyse Pharma.

TAGS: GOVERNMENT GRANTS, GOVERNMENT GRANTS FOR BUSINESS, ONTARIO GRANTS, ONTARIO LOANS, ONTARIO FUNDING, CANADIAN GOVERNMENT BUSINESS GRANTS, GOVERNMENT LOANS, GOVERNMENT, SECURED LOANS, GOVERNMENT FUNDING, BUSINESS NEWS, GOVERNMENT GRANTS CANADA, CANADIAN GOVERNMENT GRANTS