Thursday, April 17th6.4°C
21417
20654

Ontario, Ottawa put in $50 million each for Venture Catalyst Fund for start-ups

WATERLOO, Ont. - Ontario is the first province to team up with the federal government on a program to create a new venture capital fund to attract investments.

Premier Kathleen Wynne visited a high-tech company in Waterloo to announce the two levels of government would each contribute up to $50 million to the Northleaf Venture Catalyst Fund.

Wynne says it will build on the success of the Ontario Venture Capital Fund, which has attracted $872 million in private investment and helped create or retain 1,500 jobs since it was launched in 2008.

She says the whole point of the catalyst fund is to leverage private capital, and notes about $217 million has been committed already.

Wynne says the two governments are "stepping up to the plate" to give entrepreneurs and startups the boost they need to reach their full potential.

She calls venture funds "a great tool" to help companies access the capital they need to grow, create new jobs and expand into global markets.

The Canadian Press


Read more Business News

20970


Recent Trending




Today's Market
S&P TSX14446.52+142.60
S&P CDNX997.975.87
DJIA16424.85162.29
Nasdaq4086.225+52.064
S&P 5001862.31+19.33
CDN Dollar0.9090+0.0013
Gold1298.40-4.70
Oil103.78+0.02
Lumber326.50-2.30
Natural Gas4.552+0.022

 
Okanagan Companies
Pacific Safety0.105-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.22-0.05
Cantex0.045-0.005
Anavex Life Sciences0.375-0.005
Metalex Ventures0.0750.00
Russel Metals30.55+0.28
Copper Mountain Mining2.42+0.10
Colorado Resources0.2650.00
ReliaBrand Inc0.12-0.01
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.23-0.02

 
19691


20304

FEATURED Property
145594811339 Lodge Road
4 bedrooms 2 baths
$349,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Valuation fears grip markets

The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...


Quick and nimble

Photo: ContributedFor many businesses this has been a tremendously difficult time since the 2008 crisis. Business fell off. Sales techniques that always worked, well… stopped working. Customers...


Keeping a clear focus on the future

Many times when we are gripped by fear it can be one of two mental challenges that we can learn to overcome. Photo: ContributedThe Fear is completely imaginary. In this situation there may be no fact...

_



21604

21604


Member of BC Press Council


21202