Startup Canada is pleased with the Government of Canada’s continued commitment to fostering entrepreneurial success, as demonstrated by the allocation of $40 million to the Canada Accelerator and Incubator Program (CAIP) in its Economic Action Plan 2014.
“Business accelerators and incubators play an important role in the development of innovative businesses by providing them with hands-on learning and one-on-one mentorship with experienced entrepreneurs.” said Victoria Lennox, CEO of Startup Canada. “We are pleased to see the recognition of this through the extension of the CAIP.”
The infrastructure and networks that enable this mentorship are being developed by organizations like Startup Canada. With the mission of strengthening Canada’s entrepreneurship ecosystem and culture, Startup Canada plays an important role in connecting entrepreneurs, accelerators, and incubators to each other and to other actors in the entrepreneurial ecosystem through its network of Startup Communities.
“The Government of Canada recognizes that to remain competitive in the global economy, entrepreneurial talent and investment in Canada must grow, and this can only happen if entrepreneurs have access to the tools they need to create jobs and grow their business,” said Startup Canada Chairman Adam Chowaniec.
The Government of Canada has demonstrated its commitment to entrepreneurship through monetary investments and policy developments that position Canada as a world-leader in startup development and growth. The Government of Canada has invested $400 million to improve access to venture capital financing and $60 million to increase the capacity for incubators and accelerators to connect with entrepreneurs and together build high-growth businesses.
It has invested in the Startup Visa Program, paid ongoing attention to the National Research Council’s Industrial Research Assistance Program and expanded its Build in Canada Innovation Program. These programs are fuelling a culture of entrepreneurship in Canada by positioning startups as competitors in local, national, and global markets.
Startup Canada, in connecting entrepreneurs to each other, mentors, venture capital, and support services through a national and international network of Startup Communities, is a leader and catalyst of the entrepreneurship movement in Canada and abroad. Startup Canada has a network of more than 60,000 supporters, has facilitated the mentorship of over 10,000 entrepreneurs and operates programming in 20 Startup Communities across Canada.
Startup Canada looks forward to collaborating with the Government of Canada to achieve their common goal – building a future for Canada in which entrepreneurial activities flourish.