[1]Toronto – The $250 million dollar Ontario Emergent Technologies Fund is now officially open for business, ready to co-invest – along with qualified venture capital funds and other private investors – directly into companies in high-growth sectors that are aligned with Ontario’s Innovation Agenda [2]:
- Clean technology
- Life sciences and advanced health technology
- Digital media and information and communications technology.
The fund is designed to help innovative technology companies find the capital they need to grow in Ontario. It was announced by the province in March, 2009, in response to the current economic conditions and the reduction in investment capital available to emerging and high-growth companies.
Guidelines for investment are now available on the Ontario Capital Growth website [1].
“The Emerging Technologies Fund is one more step the Ontario government is taking to help ensure that innovative people and companies have access to the capital they need to continue growing their business and creating jobs in Ontario,” said Minister of Research and Innovation, John Milloy
QUICK FACTS
- Ontario’s Emerging Technologies Fund will address a lack of venture capital activity by co-investing with qualified investors directly into high-growth technology companies.
- Eligible companies must have a significant corporate footprint in Ontario.
- This initiative complements the $205-million (£112 million) Ontario Venture Capital Fund, a partnership between Ontario and leading corporate and institutional investors that is investing in venture capital and growth equity funds that support innovative, high-growth companies.