MISSISSAUGA, ONTARIO--(Marketwired - Nov. 28, 2014) - Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
FedDev Ontario Minister of State Gary Goodyear, along with Mississauga-Brampton South MP Eve Adams, today announced up to $6.28 million that will help grow innovative businesses and generate job growth in the Toronto area.
FedDev Ontario is providing up to $6.28 million for nine companies to further develop and market a variety of products, from business software, to synthetic sapphire components for LED screens, to handheld infection detection, to underwater energy storage. These companies have attracted more than $18.7 million from venture capital and angel investors.
The Government of Canada's contribution is through the Investing in Business Innovation initiative, which is aimed at strengthening the innovation ecosystem in southern Ontario by supporting new entrepreneurs, early-stage businesses and angel investors.
Quick Facts
Quotes
"Our government is fostering economic growth in the Toronto area by investing in innovative Canadian businesses. Today is just one example of how we are helping companies bring together a range of services and resources, moving Canadian ideas and products to markets around the world, ultimately creating jobs, growth and economic prosperity."
- Gary Goodyear, Minister of State for FedDev Ontario
"The Greater Toronto area is recognized as a hotbed for innovation and I am proud our Government is providing the resources to help high-growth businesses to succeed and create jobs."
- Eve Adams, Member of Parliament for Mississauga-Brampton South
Related Products
Backgrounder: Investing in Business Innovation Initiative Recipients in the Toronto area
Speech: Investing in Business Innovation Initiative Funding Announcement for the Toronto area
Associated Links
Investing in Business Innovation initiative
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