OCE’s SmartStart Seed Fund has helped over 300 start ups and created and maintained over 2,600 jobs with $12 million in funding support since 2015
Toronto, Ontario - A brighter future for Canadian businesses, creators, entrepreneurs and innovators starts with access to the tools and resources needed to push ideas forward, create jobs and grow the Canadian economy.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, highlighted the success of Ontario Centres of Excellence’s (OCE) SmartStart Seed Fund (SmartStart), which provides capital for high-potential start-up companies as they move from product development to market entry, as well as skills training to help attract investors and commercial partners. The Government of Canada, through FedDev Ontario, has been proud to support this innovative program through $12 million in contributions since 2015—including $3 million in recent funding for the 2019 cohort.
Over the past four years, SmartStart has assisted over 300 start-up companies, attracted over $150 million in investments to advance the companies’ technologies, and created and maintained over 2,600 jobs. With the 2019 cohort, a minimum of 85 additional start ups will receive support, and another 400 jobs are expected to be created and maintained.
Earlier this week, OCE celebrated another successful year during its Discovery 2019 event in Toronto. In the SmartStart Entrepreneur Zone, over 80 SmartStart companies exhibited their work, including innovations in the areas of clean technology, health sciences and information and communications technology.
Through the Government’s Innovation and Skills Plan, we are creating a culture of entrepreneurship and innovation. This project is part of this plan to create good jobs and ensure Canadians have the skills they need to succeed in today’s competitive global environment.
Source : Government Of Canada