The Federal Economic Development Agency for Southern Ontario (FedDev) announced earlier this week that The Accelerator Centre (AC) of Waterloo will receive nearly $1 million from the federal government in Canadian government funding to help the development of start-up technology firms. The Accelerator Centre is a world-renowned site for helping to cultivate technology entrepreneurship and is dedicated to accelerating the creation, growth and maturation of new, sustainable technology companies.
Funding Translates in $750K in Small Business Grants for Start-ups
The investment of $945,000 was announced by MP Peter Braid on behalf of Minister of State (FedDev Ontario), Gary Goodyear. FedDev Ontario claims that this investment will support the addition of up to 30 new start-ups and 70-90 new jobs. The Accelerator Centre will provide up to $750,000 to local tech start-ups in the form of seed money, while it is believed that up to $5 million in private investment support will likely to follow.
Small Business Grants and Loans Critical to Start-up Success
The centre’s CEO offered commented on the funding received by FedDev in a press release from the Accelerator Centre:
“For early-stage companies seeking to bring their technologies to market, access to funding and mentorship at this formative stage can be a significant hurdle,”
-Tim Ellis, CEO.
Connect with Government Small Business Grants and Small Business Loans Experts
Mentor Works Ltd. is active in the Kitchener-Waterloo Region, providing free Canadian government funding workshops and consultative services to growing young companies of all kinds. Follow us for the latest on the Top Small Business Grants & Loans for Software Development, The Top Funding Programs for Manufacturing, The Best Funding Programs for Aerospace and more by signing up for our Ontario business grants e-newsletter. Please also stay connected with us via LinkedIn and Twitter.